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1961 Base Ave
Springfield, MI 49037
Industrial Property For Sale
Investment Highlights
- The building is fully occupied by Iron Mountain (IRM). The tenant has renewed its lease every five years for the past 20-30 years
Executive Summary
Credit tenant has occupied the building for 20 years and recently signed an extension. The building is 95% to capacity and it's their largest storage facility in the state. Tenant has CBRE managing the building; the landlord maintains the roof, elevator, and parking lot repairs.
Property Facts
| Sale Type | Investment NNN | Rentable Building Area | 111,447 SF |
| Cap Rate | 7.49% | No. Stories | 4 |
| Property Type | Industrial | Year Built | 1954 |
| Property Subtype | Warehouse | Tenancy | Single |
| Building Class | B | No. Dock-High Doors/Loading | 3 |
| Lot Size | 5.94 AC | No. Drive In / Grade-Level Doors | 1 |
| Zoning | I-1 - Light Industrial | ||
| Sale Type | Investment NNN |
| Cap Rate | 7.49% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 5.94 AC |
| Rentable Building Area | 111,447 SF |
| No. Stories | 4 |
| Year Built | 1954 |
| Tenancy | Single |
| No. Dock-High Doors/Loading | 3 |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | I-1 - Light Industrial |
Utilities
- Lighting
- Gas
- Water
- Sewer
Property Taxes
| Parcel Number | 54-001-200-00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $34,558 |
Property Taxes
Parcel Number
54-001-200-00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$34,558
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