Established Industrial Investment Opportunity

Industrial for Sale
Catylist Listing ID: 30441719
Property Subtypes: Industrial-Business Park, Warehouse/Distribution
Building Size (RSF): 108,875 SF
Gross Building Area: See Agent
Gross Land Area: 6.27 Acres
Sale Price: $6,820,000
Unit Price: $62.64 PSF
Ceiling: 23 ft. / 21 ft. Clear
Docks/Doors: 7 Docks, 7 Doors
Drive In Bays: 4 Bays
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 8.5%
Average Occupancy Rate: 100
Last Updated: 6/24/2019

Overview / Comments

*A full Offering Memorandum is available upon execution of a Confidentiality Agreement.

Additional Details

Nearest MSA: Lansing-East Lansing
County: Ingham
Taxing Authority: City of Lansing
Tax ID/APN: 33-01-05-03-426-003
Highway Access: Easy access to I-96 and US-127
Area Description: 5511-5513 Enterprise Drive is located within the Midway Industrial Park, developed to deliver the best locations and accessibility for industrial operations in Lansing's South Submarket. This wellestablished center encompasses approximately 170 acres and is home to Pratt & Whitney (manufacturer and service of aircraft engines and auxiliary power units) with multiple buildings in the park. Two Men and a Truck, Home Acres Building Supply and Grainger Industrial Supply are also located in Midway Industrial Park. Lansing is home to two GM assembly plants and has announced this year a $36 million additional investment in the Delta Township plant. Michigan historically dominated by the automobile industry, but has within the last 10 years diversified into several subsectors including, metals, machinery, food & beverage, plastics, rubber, bioscience, furniture, chemical products, computer and electronics and defense.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 1971
Year Renovated: 2007
Roof Type: Flat
Construction/Siding: Concrete, Steel Frame
Parking Type: Surface
Column Spacing: 40' x 37'
Overhead Cranes: Undisclosed
Sprinklers: Wet
Amps: 1,600
Volts: 240
Zoning Description: Industrial
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,084 76,305 186,931
Median Age: 30.39 34.6 32.91
Households: 3,570 32,267 73,034

Contact

Photograph of Listing Agent

Van W. Martin

Martin Commercial Properties
CPIX Member
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