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23900 Outer Dr - Enterprise Park Storage 23,344 SF Specialty Building Offered at $2,990,000 at a 8.21% Cap Rate in Melvindale, MI 48122
Investment Highlights
- Seller Financing Available: Provides potential buyers with increased acquisition flexibility and below market interest rates.
- Operational Upside: Current “mom and pop” ownership operates without management software nor advertising, presenting a clear opportunity to implement
- Established Occupancy: The property has demonstrated historically strong occupancy levels, reflecting consistent tenant demand and operational stabili
- High Day-1 Yield: The property offers a very strong in-place return with an 8.2% going-in cap rate, providing investors with immediate cash flow on da
- Extremely Dense Surrounding Demographics: Over 100,000 residents within a 3-mile radius. Over 300,000 residents in a 5-mile radius.
- Minimal Competition: No direct competitors within a 7-mile radius, offering a unique advantage in the local market.
Executive Summary
Broker of Record
Matt Fitzgerald
License # 6505432273 (MI)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Matt Fitzgerald
License # 6505432273 (MI)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
| Price | $2,990,000 | Building Class | C |
| Price Per SF | $128.08 | Lot Size | 7.01 AC |
| Sale Type | Investment | Building Size | 23,344 SF |
| Cap Rate | 8.21% | No. Stories | 1 |
| Property Type | Specialty | Year Built/Renovated | 1948/1965 |
| Property Subtype | Parking Lot | Parking Ratio | 10.07/1,000 SF |
| Zoning | R1 1 FA - Industrial Zoned District | ||
| Price | $2,990,000 |
| Price Per SF | $128.08 |
| Sale Type | Investment |
| Cap Rate | 8.21% |
| Property Type | Specialty |
| Property Subtype | Parking Lot |
| Building Class | C |
| Lot Size | 7.01 AC |
| Building Size | 23,344 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1948/1965 |
| Parking Ratio | 10.07/1,000 SF |
| Zoning | R1 1 FA - Industrial Zoned District |
Amenities
- Air Conditioning
1 1
Property Taxes
| Parcel Number | 47-011-06-0041-003 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $187,500 |
Property Taxes
Parcel Number
47-011-06-0041-003
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$187,500
Contacts
-
Campbell Watkins -
Hunter Reynolds -
Austin McLeod -
Matthews Real Estate Investment Services
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