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1961 Base Ave 111,447 SF Industrial Building Springfield, MI 49037 $5,750,000 ($51.59/SF) 6.83% Cap Rate
Investment Highlights
- Fully occupied building with little room for paying clients files. Tenant has renewed every five years for the past 30 years.
Executive Summary
Property Facts
| Price | $5,750,000 | Lot Size | 5.94 AC |
| Price Per SF | $51.59 | Rentable Building Area | 111,447 SF |
| Sale Type | Investment NNN | No. Stories | 4 |
| Cap Rate | 6.83% | Year Built | 1954 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Warehouse | No. Dock-High Doors/Loading | 3 |
| Building Class | B | No. Drive In / Grade-Level Doors | 1 |
| Zoning | I-1 - Light Industrial | ||
| Price | $5,750,000 |
| Price Per SF | $51.59 |
| Sale Type | Investment NNN |
| Cap Rate | 6.83% |
| 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
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Information
- 113,373 SF
- $4.01
- Modified Gross
- Jan 2029
Iron Mountain (NYSE: IRM) is a global information management services company founded in 1951 and headquartered in Portsmouth, New Hampshire. The company operates as a real estate investment trust, converting to REIT status effective January 1, 2014. Iron Mountain provides records management, information destruction, data backup and recovery, data center infrastructure, IT asset lifecycle management, and secure storage services to more than 220,000 customers across 58 countries in North America, Europe, Latin America, Africa, Asia, and Oceania. Iron Mountain operates three main business segments: Global Records and Information Management Business, Global Data Center Business, and Corporate and Other Business. The records management operations span 1,350 locations globally, including underground and above-ground secure storage facilities. The data center portfolio consists of 30+ facilities across North America, Europe, and Asia-Pacific totaling more than 5 million gross square feet. The company's IT Asset Lifecycle Management division, expanded through acquisitions of ITRenew for $925 million in 2021, Regency Technologies for $200 million in 2024, and Wisetek in September 2024, provides IT asset disposition and data sanitization services. The customer base includes 95% of the Fortune 1000 companies, government agencies at federal and local levels, healthcare organizations, financial institutions, and enterprises across multiple industries requiring secure information management and digital infrastructure solutions.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Information | 113,373 SF | $4.01 | Modified Gross | Jan 2029 |
Property Taxes
| Parcel Number | 54-001-200-00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $34,558 |
Property Taxes
Presented by
1961 Base Ave
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