Investment Opportunity 15994SL

Industrial for Sale
Catylist Listing ID: 30316174
Property Subtypes: Mixed Use, Light Industrial, Office Showroom
Building Size (RSF): 12,120 SF
Gross Building Area: See Agent
Gross Land Area: 0.53 Acres
Sale Price: $295,000
Unit Price: $24.34 PSF
Ceiling: 10 ft. Clear
Docks/Doors: 1 Door
Office SF: 1,400 SF
Drive In Bays: 1 Bay
Property Use Type: Net Leased Investment (NNN)
Building Name: Construction Fasteners
Sale Terms: Cash to Seller
Cap Rate: 20.0%
Average Occupancy Rate: 100
Last Updated: 9/17/2018

Overview / Comments

12,120 SF warehouse with office and showroom.

2018 Taxable Value $103,723
2017 Winter / 2018 Summer Property Taxes $7,271.20

Quick payback $60,000/year income until August 2022

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $7,271 (Annual)

Current Tenants

Tenant Business Name Colony Hardware Corp.
Industry Type Retail Trade
Is Renting? Yes
SF of Space Occupied 12,120 SF
Current Rent $8 PSF (Annual)
Lease Expiration 8/0021
Options (1) 5 year option

Additional Details

Nearest MSA: Flint
County: Genesee
Taxing Authority: City of Flint
Tax ID/APN: 41-08-257-016 & 41-08-257-017
Zoning: GN-1 GREEN NEIGHBORHOOD
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Roof Type: Flat
Construction/Siding: Block, Brick
Exterior Description: Block/Brick/Steel
Parking Type: Surface
Parking Description: Asphalt
Total Parking Spaces: 18
Overhead Cranes: Undisclosed
Sprinklers: None
Amps: 200
X-Phase: Single
Heat Type: Natural Gas
Heat Source: Central, Ceiling Units
Lighting: Fluorescent
Lot Frontage: 140
Lot Depth: 163
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,239 91,180 181,205
Median Age: 37.4 35.22 35.8
Households: 6,201 36,245 71,272
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