Log In/Sign Up
Your email has been sent.
3060 Madison Ave SE 15,304 SF 44% Leased Industrial Building Grand Rapids, MI 49548 $1,400,000 ($91.48/SF) 9.82% Cap Rate
INVESTMENT HIGHLIGHTS
- Easy to lease
- Close to expressway
- High Traffic Industrial area
- Seller Financing
EXECUTIVE SUMMARY
Over the past two years, I have improved the rents and replaced several Tenants. This project is now stabilized and will be easy to manage. I offer my continued assistance for the future.
The largest space in the building has a month-to-month tenant that has been in place for a decade or so. The business is for sale, and as of right now, they don't want to commit to a long-term lease. I have a lot of interest in the space, but I want to allow an owner-occupant to buy the building.
I have that space listed for $9/SF on a NNN lease, and have calculated the income from that space at $7.50/SF, as that price is fairly easy to achieve.
The owner would be willing to Seller-Finance with a strong buyer and adequate terms.
Approximate Terms:
Purchase Price: $1,400,000
Down Payment: $280,000 (20%)
Seller Financing: Balance of $1,120,000 carried by Seller
Interest Rate: 6.00% (amortized over 300 months)
Balloon Payment: 5 years (60 months)
Payment: $7,216.18
Cash Flow after debit service: $43,570
The largest space in the building has a month-to-month tenant that has been in place for a decade or so. The business is for sale, and as of right now, they don't want to commit to a long-term lease. I have a lot of interest in the space, but I want to allow an owner-occupant to buy the building.
I have that space listed for $9/SF on a NNN lease, and have calculated the income from that space at $7.50/SF, as that price is fairly easy to achieve.
The owner would be willing to Seller-Finance with a strong buyer and adequate terms.
Approximate Terms:
Purchase Price: $1,400,000
Down Payment: $280,000 (20%)
Seller Financing: Balance of $1,120,000 carried by Seller
Interest Rate: 6.00% (amortized over 300 months)
Balloon Payment: 5 years (60 months)
Payment: $7,216.18
Cash Flow after debit service: $43,570
PROPERTY FACTS
AMENITIES
- 24 Hour Access
- Signage
- Air Conditioning
UTILITIES
- Lighting
- Gas
- Water
- Sewer
- Heating
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
Nice industrial space located in Wyoming, MI Heavy power, air conditioned 1 loading dock and 1 drive-in door Warehouse space available is: 6,760 SQ feet Office space is: 1,850 SQ feet Dock Door Access with an Overhead Door Ample parking 5+ offices Conference Room High ceilings Conveniently located right off US-131 and 28th Street
| Space | Size | Space Use | Condition | Available |
| 1st Fl - 100 | 3,600-8,610 SF | Industrial | Full Build-Out | Now |
1st Fl - 100
| Size |
| 3,600-8,610 SF |
| Space Use |
| Industrial |
| Condition |
| Full Build-Out |
| Available |
| Now |
1 of 24
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1st Fl - 100
| Size | 3,600-8,610 SF |
| Space Use | Industrial |
| Condition | Full Build-Out |
| Available | Now |
Nice industrial space located in Wyoming, MI Heavy power, air conditioned 1 loading dock and 1 drive-in door Warehouse space available is: 6,760 SQ feet Office space is: 1,850 SQ feet Dock Door Access with an Overhead Door Ample parking 5+ offices Conference Room High ceilings Conveniently located right off US-131 and 28th Street
1 1
PROPERTY TAXES
| Parcel Number | 41-18-18-251-001 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $370,800 |
PROPERTY TAXES
Parcel Number
41-18-18-251-001
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$370,800
1 of 22
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
3060 Madison Ave SE
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.