Catylist ID: #30340055
557 Lincoln Rd
Industrial for Sale
|Catylist Listing ID:||30340055|
|Property Subtypes:||Cold Storage, Flex Space, Industrial-Business Park, Manufacturing, Light Industrial, Net Leased, Research & Development, Truck Terminal, Warehouse/Distribution, Other|
|Building Size (RSF):||40,929 SF|
|Gross Building Area:||See Agent|
|Gross Land Area:||8.62 Acres|
|Unit Price:||$18.81 PSF|
|Ceiling:||17 ft. / 15 ft. Clear|
|Docks/Doors:||10 Docks, 2 Doors|
|Office SF:||2,393 SF|
|Drive In Bays:||3 Bays|
|Property Use Type:||Net Leased Investment (NNN), Investment, Vacant/Owner-User|
|Sale Terms:||Cash to Seller, Purchase Money Mortgage|
Overview / Comments
This 5-building site on 8.62 acres offers a unique investment and/or user opportunity in the heart of Otsego. The property is fully leased, and all tenants are on month-to-month leases allowing a wide range of use flexibility. Many of the tenants have expressed interest in signing long term leases. Each building is separately metered.
Building #1 is a 2,393 SF office building generating approximately $2,000/month gross income. The building has a new roof.
Building #2 is an 11,036 SF dock-high refrigerated building with 12' clear height, 4 docks and an approximately 1,000 SF freezer room. The roof is approximately 15 years old. The building has two tenants generating $1,300/month gross rental income.
Building #3 is an 8,520 SF manufacturing building with 10' clear heights throughout, 3-Phase / 480-Volt / 400 amps of power, 2 drive-in-doors and 1 dock door. Approximately half of the building has a new roof. The building is leased to the same tenant as Building #5; together these buildings generate $3,040/month in gross rental income.
Building #4 is an 8,820 SF service building with 3 drive-in bays, 15'6" clear heights. The roof is approximately 15 years old. The building is leased to two tenants and generates approximately $2,300/month in gross rental income.
Building #5 is 10,160 SF and is leased to the same tenant as Building #3. The building has 13'4" clear heights, 1 dock and 2 drive-in-doors. The landlord is in the process of replacing this roof.
|Finance Data Year||2017|
|Assessed Value - Total($)||$321,100 (Annual)|
|Potential Rental Income||$107,200 (Annual)|
|Actual or Proforma Year||Proforma|
|Taxing Authority:||Otsego Township|
|Property Located Between:||Jefferson Rd and 106th Ave|
|Total Number of Buildings:||5|
|Number of Stories:||1|
|Construction/Siding:||Block, Metal Siding|
|Parking Description:||Ample surface parking available on site.|
|Heat Type:||Natural Gas|
|Heat Source:||Ceiling Units|
|Zoning Description:||Commercial and Industrial|
|Proximity:||1 mile||3 miles||5 miles|
Tim Van NoordColliers International CARWM Member
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