$1,463,000
$1,550,000
5.6%For more information regarding the value of a property, please contact us for a free consultation.
5.35 Acres Lot
SOLD DATE : 07/15/2021
Key Details
Sold Price $1,463,000
Property Type Commercial
Sub Type Industrial
Listing Status Sold
Purchase Type For Sale
Municipality Coldwater City
MLS Listing ID 21006188
Sold Date 07/15/21
Originating Board Michigan Regional Information Center (MichRIC)
Year Built 1969
Annual Tax Amount $18,904
Tax Year 2020
Lot Size 5.350 Acres
Acres 5.35
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.
Location
State MI
County Branch
Area Branch County - R
Direction Located 2.5 miles SW of I-69 in the Coldwater South Industrial Park.
Rooms
Basement None
Interior
Cooling Central Air
Fireplaces Number 1
Exterior
Parking Features Paved
Utilities Available Telephone, Cable Connected, Public Water, Public Sewer, Natural Gas Connected, Electricity Available, Natural Gas Available
View Y/N No
Roof Type Stone, Metal
Street Surface Paved
Building
Building Description Stone, Brick, Metal Siding, Clearspan, Fire Sprinkler, Multi User Facility
Sewer Public Sewer
Water Public
Structure Type Stone, Brick, Metal Siding
New Construction No
Schools
School District Coldwater
Others
Tax ID 304-000-000-577-00
Ownership LLC
Acceptable Financing Cash
Listing Terms Cash
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