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242 Kent St 1,440 SF 100% Leased Office Building Portland, MI 48875 $149,900 ($104.10/SF) 9.30% Cap Rate
Investment Highlights
- Waterfront Property on Grand River
- New roof in 2021
- 1000 SF of walkout space
Executive Summary
Rare opportunity to find a recently renovated office building with space to grow and frontage on the Grand River
Fully leased
1,440 SF between 2 suites
1,000 SF of walkout space around backside of building
C-1 (Neighborhood Commercial) zoning
Fully leased
1,440 SF between 2 suites
1,000 SF of walkout space around backside of building
C-1 (Neighborhood Commercial) zoning
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
1,440 SF
Building Class
C
Year Built
1959
Price
$149,900
Price Per SF
$104.10
Cap Rate
9.30%
NOI
$13,941
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
1,440 SF
Building FAR
0.22
Lot Size
0.15 AC
Zoning
C1 - Neighborhood Commercial
Parking
3 Spaces (2.08 Spaces per 1,000 SF Leased)
Amenities
- Waterfront
- Air Conditioning
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Fairly walkable
40/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 300-050-000-935-01 | Improvements Assessment | $62,800 |
| Land Assessment | $5,900 | Total Assessment | $68,700 |
Property Taxes
Parcel Number
300-050-000-935-01
Land Assessment
$5,900
Improvements Assessment
$62,800
Total Assessment
$68,700
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Contact the Sale Advisor
242 Kent St