Industrial

Industrial for Sale
Catylist Listing ID: 30539970
Property Subtypes: Flex Space
Building Size (RSF): 35,067 SF
Gross Land Area: 2.83 Acres
Sale Price: $3,300,000
Unit Price: $94.11 PSF
Ceiling: 18 ft.
Docks/Doors: 1 Dock, 3 Doors
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Undisclosed, Other
Cap Rate: 8.18%
Average Occupancy Rate: 100
Last Updated: 1/24/2020

Overview / Comments

Multi-tenant, flex/industrial building located in Troy. The four-tenant building is 100% occupied and was built in 1986 situated in Troy - one of the most prestigious cities in Oakland County, the wealthiest county in the State of Michigan. The market rates and occupancy levels in Troy are reflective of the desirability of the location. The market-wide average vacancy in Troy for industrial/flex buildings is about 3.82%, making it very difficult to find quality space in the area. As a result of high demand, and consequently low supply of industrial/flex space, rates have continued to increase. The property is located just 1.5 miles southwest of the I-75 freeway, allowing ease of access to Ann Arbor, Detroit, Canada, other main distribution hubs. To our knowledge, the property has been diligently maintained by current owner mitigating the cost of future major capital improvements for roof, outer wall, and parking lot.

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Oakland
Submarket/Township: Troy South
Tax ID/APN: 2032226013
Zoning: LIGHT INDUSTRIAL
Property Located Between: W. Maple Road
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 35,067 SF
Year Built: 1986
Year Renovated: 2013
Parking Type: Surface
Total Parking Spaces: 135
Overhead Cranes: Undisclosed
Sprinklers: Other
Heat Type: Other
Heat Source: Other
Air Conditioning: Other

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,782 128,153 334,149
Median Age: 37.95 40.12 41.11
Households: 8,834 56,473 139,686
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