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US LBM - Northern Building Supply 1480 SW Bayshore Dr 45,000 SF Industrial Building Suttons Bay, MI 49682 $1,742,000 ($38.71/SF) 7.75% Cap Rate
Investment Highlights
- The lease is guaranteed by US LBM Holdings, LLC, one of the largest privately held building materials distributors in the United States
- The ±45,000 SF facility sits on ±4.90 acres with only 21.08% site coverage, allowing for ample outdoor storage, circulation
- Located in Suttons Bay just outside Traverse City, the property benefits from strong regional demographics, affluent surrounding communities
- US LBM recently renewed the lease through August 2031, leaving approximately 5.3 years remaining on the base term
- The offering provides investors with a 7.75% cap rate backed by a national corporate tenant in a sector
Executive Summary
Broker of Record
Matt Fitzgerald
License # 6502432668, 6505432273 (MI)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Matt Fitzgerald
License # 6502432668, 6505432273 (MI)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
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Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 011-033-029-60 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,137,200 |
Property Taxes
Parcel Number
011-033-029-60
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,137,200
Contacts
-
Louis Murray -
Brett Davis -
Alexander Harrold -
Matthews Real Estate Investment Services
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