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922 N M-37 Hwy 67,630 SF Specialty Building Offered at $5,700,000 at a 8.47% Cap Rate in Hastings, MI 49058
INVESTMENT HIGHLIGHTS
- Newly constructed self-storage buildings
- Upside in tenant insurance
- Paved with a gate and keypad
- Upside in rent
- Upside in parking revenue
- Affluent, growing market
EXECUTIVE SUMMARY
On behalf of the Seller, Friedman is proud to bring this seven-acre mixed-use (Self-Storage/Flex/Contractor Bay) facility to market in Hastings, MI (Grand Rapids area).
The Seller was recently granted the right to expand the facility and will sell the existing property for $5.25MM provided the buyer is willing to pay $450k for 16,000 incremental feet of Self-Storage in permitted, shovel-ready condition.
The Seller was recently granted the right to expand the facility and will sell the existing property for $5.25MM provided the buyer is willing to pay $450k for 16,000 incremental feet of Self-Storage in permitted, shovel-ready condition.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $5,700,000 | Building Class | C |
| Price Per SF | $84.28 | Lot Size | 7.11 AC |
| Sale Type | Investment | Building Size | 67,630 SF |
| Cap Rate | 8.47% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2023 |
| Property Subtype | Self-Storage | ||
| Zoning | LI - Warehouse, Light Industrial | ||
| Price | $5,700,000 |
| Price Per SF | $84.28 |
| Sale Type | Investment |
| Cap Rate | 8.47% |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | C |
| Lot Size | 7.11 AC |
| Building Size | 67,630 SF |
| No. Stories | 1 |
| Year Built | 2023 |
| Zoning | LI - Warehouse, Light Industrial |
AMENITIES
- Signage
1 1
PROPERTY TAXES
| Parcel Number | 08-13-009-012-10 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $741,900 |
PROPERTY TAXES
Parcel Number
08-13-009-012-10
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$741,900
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922 N M-37 Hwy
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