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353 E First St 12,300 SF Specialty Building Offered at $1,250,000 at a 6.20% Cap Rate in Fennville, MI 49408
Investment Highlights
- 138 Units | 12,780 Net Rentable SF 76% Occupancy
- Proven Operating History with in-place cash flow
- Recently Built Construction – Modern design and layout
Executive Summary
Please Contact Danielle Moore at 586.354.4433 with all inquiries!
Status: Professionally managed, recently built, well-maintained
Occupancy: ~76% and still leasing up
Financial Performance:
2024 Gross Revenue: $126,343
2025 Revenue: $134,314.54
Expenses: $56,832.12
NOI: $77,482.42
Upside Potential:
Continued lease-up driving revenue growth
Strong local fundamentals and demand drivers
Area revitalization underway, including a grant-funded historic hotel renovation and multiple community development projects supporting long-term value appreciation
Low-maintenance, updated facility with proven operational history
Status: Professionally managed, recently built, well-maintained
Occupancy: ~76% and still leasing up
Financial Performance:
2024 Gross Revenue: $126,343
2025 Revenue: $134,314.54
Expenses: $56,832.12
NOI: $77,482.42
Upside Potential:
Continued lease-up driving revenue growth
Strong local fundamentals and demand drivers
Area revitalization underway, including a grant-funded historic hotel renovation and multiple community development projects supporting long-term value appreciation
Low-maintenance, updated facility with proven operational history
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$134,314
|
$10.92
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$134,314
|
$10.92
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$56,832
|
$4.62
|
| Net Operating Income |
$77,482
|
$6.30
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $134,314 |
| Annual Per SF | $10.92 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $134,314 |
| Annual Per SF | $10.92 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $56,832 |
| Annual Per SF | $4.62 |
| Net Operating Income | |
|---|---|
| Annual | $77,482 |
| Annual Per SF | $6.30 |
Property Facts
| Price | $1,250,000 | Building Class | B |
| Price Per SF | $101.63 | Lot Size | 1.02 AC |
| Sale Type | Investment | Building Size | 12,300 SF |
| Cap Rate | 6.20% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2020 |
| Property Subtype | Self-Storage | Parking Ratio | 0.41/1,000 SF |
| Zoning | Special | ||
| Price | $1,250,000 |
| Price Per SF | $101.63 |
| Sale Type | Investment |
| Cap Rate | 6.20% |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | B |
| Lot Size | 1.02 AC |
| Building Size | 12,300 SF |
| No. Stories | 1 |
| Year Built | 2020 |
| Parking Ratio | 0.41/1,000 SF |
| Zoning | Special |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 52-700-009-00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $221,500 |
Property Taxes
Parcel Number
52-700-009-00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$221,500
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353 E First St
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