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The Grand Rapids Press 3100-3102 Walker Ridge Dr NW 236,000 SF 100% Leased Flex Building Grand Rapids, MI 49544 $11,200,000 ($47.46/SF) 6.75% Cap Rate
Executive Summary
The Press Building, located at 3100 Walker Ridge in Walker MI, is 179,506 total SF and sits on 10.8 acres. The Current Tenant will sign a new 3-year NNN lease at close for 100% of the property. The starting rental rate will be well below market, with no options. The lease will provide a new Landlord with take back provisions, creating an opportunity to backfill and replace at substantially higher rents.
The Press Building offers a unique mix of warehouse, flex and office space and all 179k SF is heated and cooled. The “mix” of space, together with its over engineered structure will provide opportunities for leasing to specialty uses paying higher rents.
The Press Building offers a unique mix of warehouse, flex and office space and all 179k SF is heated and cooled. The “mix” of space, together with its over engineered structure will provide opportunities for leasing to specialty uses paying higher rents.
Property Facts
| Price | $11,200,000 | Rentable Building Area | 236,000 SF |
| Price Per SF | $47.46 | No. Stories | 4 |
| Sale Type | Investment NNN | Year Built | 2002 |
| Cap Rate | 6.75% | Parking Ratio | 1.12/1,000 SF |
| Property Type | Flex | Clear Ceiling Height | 30’ |
| Property Subtype | Light Manufacturing | No. Dock-High Doors/Loading | 33 |
| Building Class | B | No. Drive In / Grade-Level Doors | 5 |
| Lot Size | 21.14 AC | Cross Streets | North Ridge |
| Zoning | C - Commercial Industrial | ||
| Price | $11,200,000 |
| Price Per SF | $47.46 |
| Sale Type | Investment NNN |
| Cap Rate | 6.75% |
| Property Type | Flex |
| Property Subtype | Light Manufacturing |
| Building Class | B |
| Lot Size | 21.14 AC |
| Rentable Building Area | 236,000 SF |
| No. Stories | 4 |
| Year Built | 2002 |
| Parking Ratio | 1.12/1,000 SF |
| Clear Ceiling Height | 30’ |
| No. Dock-High Doors/Loading | 33 |
| No. Drive In / Grade-Level Doors | 5 |
| Cross Streets | North Ridge |
| Zoning | C - Commercial Industrial |
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
9'-32' Clear Height
Warehouse and Flex space. 9'-32' Clear Heights
Flex, High bay, and Office space. 16'-60' Clear Heights
| Space | Size | Space Use | Build-Out | Available |
| 1st Fl - B | 9,120-81,170 SF | Industrial | - | 30 Days |
| 1st Fl - C | 9,216-53,968 SF | Industrial | - | 30 Days |
| 2nd Fl - D | 3,100-28,870 SF | Industrial | - | 30 Days |
1st Fl - B
| Size |
| 9,120-81,170 SF |
| Space Use |
| Industrial |
| Build-Out |
| - |
| Available |
| 30 Days |
1st Fl - C
| Size |
| 9,216-53,968 SF |
| Space Use |
| Industrial |
| Build-Out |
| - |
| Available |
| 30 Days |
2nd Fl - D
| Size |
| 3,100-28,870 SF |
| Space Use |
| Industrial |
| Build-Out |
| - |
| Available |
| 30 Days |
1st Fl - B
| Size | 9,120-81,170 SF |
| Space Use | Industrial |
| Build-Out | - |
| Available | 30 Days |
9'-32' Clear Height
1st Fl - C
| Size | 9,216-53,968 SF |
| Space Use | Industrial |
| Build-Out | - |
| Available | 30 Days |
Warehouse and Flex space. 9'-32' Clear Heights
2nd Fl - D
| Size | 3,100-28,870 SF |
| Space Use | Industrial |
| Build-Out | - |
| Available | 30 Days |
Flex, High bay, and Office space. 16'-60' Clear Heights
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Somewhat walkable
20/100
Exceptionally drivable
100/100
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The Grand Rapids Press | 3100-3102 Walker Ridge Dr NW
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