Investment property

Special Purpose for Sale
Catylist Listing ID: 30655979
Property Subtypes: Saw Mill/Lumberyard
Building Size (RSF): 31,376 SF
Gross Building Area: 38,100 SF
Gross Land Area: 2.36 Acres
Sale Price: $725,000
Ceiling: 12 ft.
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 7.1%
Last Updated: 10/16/2021

Overview / Comments

Investment property. Lumber warehouse and showroomm on 2.36 acres.Located in the heart of Sparta. Single tenant, NNN lease. 6 separate Buildings. Shows a good return.

Financials

Finance Data Year 2020
Assessed Value - Total($) $354,300 (Annual)
Potential Rental Income $51,966 (Annual)
Net Operating Income $51,966 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Taxing Authority: Sparta
Tax ID/APN: 41-05-23-153-017
Zoning: COMMERCIAL
Property Located Between: M-37 and US 131
Property Visibility: Excellent
Largest Nearby Street: 350 S. State
Feet of Frontage: 187
Highway Access: S. State to M-37
Airports: Sparta
Site Description: Downtown Sparta, great exposure. Property well kept and shows well.
Area Description: Mixed Comercial
Total Number of Buildings: 6
Number of Stories: 1
Property Condition: Good
Year Built: 1940
Roof Type: Gambrel
Construction/Siding: Brick/Aluminum Siding
Exterior Description: warehouse and showroom
Parking Type: Surface
Sprinklers: None
Heat Type: Natural Gas, Suspended Radiant Heaters
Heat Source: Central, Ceiling Units
Interior Description: showroom
Zoning Description: Commercial
Lot Frontage: 187
Water Service: Municipal
Sewer Type: Municipal
Easements Description: Of record
Legal Description: LL in LO/AO

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,128 9,110 20,327
Median Age: 34.59 35.72 37.72
Households: 1,235 3,424 7,363

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