Sale/Leaseback located in a Qualified Opportunity Zone

Industrial for Sale
Catylist Listing ID: 30380321
Property Subtypes: Manufacturing, Light Industrial
Building Size (RSF): 54,500 SF
Gross Building Area: See Agent
Gross Land Area: 3.19 Acres
Sale Price: $2,110,000
Unit Price: $38.72 PSF
Ceiling: 1224 ft. / 24 ft. Clear
Docks/Doors: 2 Docks, 2 Doors
Property Use Type: Investment
Sale Terms: Cash to Seller, Sale/Leaseback
Cap Rate: 8.38%
Last Updated: 3/21/2019

Overview / Comments

NorthStar Commercial is pleased to present a Grand Rapids-based Sale-leaseback Industrial Investment opportunity offered at an 8.38% Cap Rate.

THIS PROPERTY IS LOCATED IN A QUALIFIED OPPORTUNITY ZONE

Well established privately held local contract manufacturer specializing in finishing, fabrication, assembly of furniture, military, electronics, and the gaming industry is willing to sign an absolute net lease with renewal options making this a simple investment with minimal landlord responsibilities.

A recent Alta Survey and Environmental reports have been completed on both properties making this a simple transaction for a 1031 exchange.

NOTE: Clear ceiling height ranges from 12 feet to 24 feet.

Additional Details

Nearest MSA: Grand Rapids-Wyoming
County: Kent
Submarket/Township: S 131 Corridor
Taxing Authority: City of Grand Rapids
Tax ID/APN: 41-18-05-156-006, 41-18-06281025
Zoning: INDUSTRIAL
Tenancy: Single Tenant
Total Number of Buildings: 2
Number of Stories: 1
Parking Type: Surface
Overhead Cranes: Undisclosed

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 20,510 153,532 306,969
Median Age: 29.63 31.56 33.33
Households: 6,988 56,412 118,025

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