Multi-tenant Industrial Building for Sale

Industrial for Sale
Catylist Listing ID: 30647524
Property Subtypes: Flex Space, Food Processing, Free-Standing, Industrial-Business Park, Manufacturing, Light Industrial, Net Leased, Office Showroom, Warehouse/Distribution, Other
Building Size (RSF): 23,200 SF
Gross Building Area: See Agent
Gross Land Area: 1.69 Acres
Sale Price: $1,650,000
Unit Price: $71.12 PSF
Ceiling: 22 ft. / 18 ft. Clear
Docks/Doors: 5 Docks, 4 Doors
Office SF: 2,916 SF
Property Use Type: Net Leased Investment (NNN), Investment
Usable Size (USF): 23,200 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 7.1%
Average Occupancy Rate: 100
Last Updated: 9/23/2020

Overview / Comments

Unique investment/owner-user opportunity at 4317 Airwest Drive SE in Kentwood. This 23,200 SF multi-tenant building could be demised into four separate suites ranging in size from 3,760 SF - 10,000 SF. Each suite is equipped with a dock door and/or grade level door, restrooms, floor drains, and a suitable amount of office space. Come Q1 of 2021, up to 19,200 SF of contiguous space could be available for occupancy. The building had a brand new roof put on in 2020.

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: Airport District
Taxing Authority: City of Kentwood
Tax ID/APN: 41-18-23-453-003
Zoning: I1
Highway Access: I-96, US-131 & M-6
Airports: Gerald R. Ford International Airport
Tenancy: Multiple Tenants
Number of Stories: 1
Property Condition: Excellent
Year Built: 1975
Year Renovated: 2020
Construction/Siding: Steel Frame
Parking Type: Surface
Overhead Cranes: Undisclosed
Sprinklers: None
Volts: 480
X-Phase: 3
Heat Type: Natural Gas
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,443 54,544 190,002
Median Age: 34.28 37.34 35.13
Households: 1,386 22,895 71,354


Photograph of Listing Agent

Trent Wieringa, SIOR

Colliers International
CARWM Member
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