$1,463,000
$1,550,000
5.6%For more information regarding the value of a property, please contact us for a free consultation.
66,250 SqFt
SOLD DATE : 07/15/2021
Key Details
Sold Price $1,463,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 66,250 sqft
Price per Sqft $22
MLS Listing ID 66021006188
Sold Date 07/15/21
Originating Board Greater Kalamazoo Association of REALTORS®
Year Built 1969
Annual Tax Amount $18,904
Lot Size 5.350 Acres
Acres 5.35
Lot Dimensions Irregular
Property Description
RARE MULTI-TENANTED INDUSTRIAL INVESTMENT PROPERTY: 66,250 SF industrial building on 5.35-acre parcel in the Coldwater South Industrial Park. Currently 92% occupied with flexible leases, an in-place NOI of $137,500 and cap rate of 8.9%, this multi-tenanted facility offers a variety of opportunities, including as owner-occupied, with short-term leases that allow flexibility and immediate income. Property offers heating and A/C throughout the original 41,250 SF facility with 16' clear ceiling height and 20-24' ceiling height in the 25,000 SF 2005 addition. All with heavy power. Several interior and exterior overhead doors/truck wells located throughout, ample on-site parking with multiple ingress/egress options. Many long-term tenants include DWV Mechanical, C&M Manufacturing,Biz Aid, Infinisource, Sterling Technologies and Groholski Manufacturing Solutions.; Power/Phase: 3; Power/Voltage: 1200-2000 A/480 V
Location
State MI
County Branch
Area Coldwater
Zoning Commercial,Office,Residential
Direction Located 2.5 miles SW of I-69 in the Coldwater South Industrial Park.
Interior
Heating Forced Air
Heat Source Natural Gas
Exterior
Pool No
Utilities Available Fire Sprinkler
Roof Type Metal,Other
Road Frontage Paved
Building
Sewer Public Sewer (Sewer-Sanitary), Sewer at Street
Water 3rd Party Unknown, Public (Municipal), Water at Street
Structure Type Block/Concrete/Masonry,Brick,Metal Siding,Steel,Stone
Schools
School District Coldwater
Others
Tax ID 30400000057700
Acceptable Financing Cash
Rebuilt Year 1995
Listing Terms Cash
Financing Cash
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