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977 N Van Dyke Rd - Thumb Storage & Business Suites 24,400 SF Specialty Building Offered at $1,200,000 at a 8.21% Cap Rate in Bad Axe, MI 48413
INVESTMENT HIGHLIGHTS
- It sits in between a Meijer and a Walmart on a very busy intersection.
EXECUTIVE SUMMARY
John 14:6 - Jesus said unto him "I am the way, the truth, and the life. No one comes to the Father except through Me".
Calvary Realty is pleased to present Thumb Storage & Business Suites, a prime storage investment located at 977 N Van Dyke
Rd in Bad Axe, Michigan. This facility sits on 4.14 acres in Huron County, with a population of 30,927. The property features a
total of 64,789 rentable square feet, with 34,289 square feet of enclosed space and 30,500 square feet of unenclosed storage.
Converted in 2019, the facility consists of 231 units and offers a strong opportunity for occupancy growth, with the current
physical occupancy at 40% (60% Including Owner Occupied Space).
Thumb Storage is equipped with modern amenities, including ESS management software for seamless operations, electronic
entrance gates, and security cameras. The facility has undergone recent capital improvements, ensuring its readiness for future
tenants. Positioned at a signalized intersection with a traffic count of 5,770 vehicles per day, the property benefits from good
visibility and accessibility. The fenced and lit premises further enhance security, making it an attractive option for both renters
and investors.
With a low price per square foot of $35 and an 8.21% actual cap rate, this property presents substantial upside potential for
expansion and increased occupancy. Investors will appreciate the growth opportunities offered by the underutilized enclosed
square footage and the potential for further development. Thumb Storage & Business Suites stands as a solid investment with
long-term potential in a growing market.
Calvary Realty is pleased to present Thumb Storage & Business Suites, a prime storage investment located at 977 N Van Dyke
Rd in Bad Axe, Michigan. This facility sits on 4.14 acres in Huron County, with a population of 30,927. The property features a
total of 64,789 rentable square feet, with 34,289 square feet of enclosed space and 30,500 square feet of unenclosed storage.
Converted in 2019, the facility consists of 231 units and offers a strong opportunity for occupancy growth, with the current
physical occupancy at 40% (60% Including Owner Occupied Space).
Thumb Storage is equipped with modern amenities, including ESS management software for seamless operations, electronic
entrance gates, and security cameras. The facility has undergone recent capital improvements, ensuring its readiness for future
tenants. Positioned at a signalized intersection with a traffic count of 5,770 vehicles per day, the property benefits from good
visibility and accessibility. The fenced and lit premises further enhance security, making it an attractive option for both renters
and investors.
With a low price per square foot of $35 and an 8.21% actual cap rate, this property presents substantial upside potential for
expansion and increased occupancy. Investors will appreciate the growth opportunities offered by the underutilized enclosed
square footage and the potential for further development. Thumb Storage & Business Suites stands as a solid investment with
long-term potential in a growing market.
PROPERTY FACTS
| Price | $1,200,000 | Building Class | B |
| Price Per SF | $49.18 | Lot Size | 4.14 AC |
| Sale Type | Investment or Owner User | Building Size | 24,400 SF |
| Cap Rate | 8.21% | No. Stories | 1 |
| Sale Condition | Building in Shell Condition | Year Built/Renovated | 1984/2019 |
| Property Type | Specialty | Parking Ratio | 6.15/1,000 SF |
| Property Subtype | Self-Storage | Opportunity Zone |
Yes
|
| Zoning | industrial - Commercial C-2 Storage facility | ||
| Price | $1,200,000 |
| Price Per SF | $49.18 |
| Sale Type | Investment or Owner User |
| Cap Rate | 8.21% |
| Sale Condition | Building in Shell Condition |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | B |
| Lot Size | 4.14 AC |
| Building Size | 24,400 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1984/2019 |
| Parking Ratio | 6.15/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | industrial - Commercial C-2 Storage facility |
AMENITIES
- Air Conditioning
- Fiber Optic Internet
1 1
PROPERTY TAXES
| Parcel Number | 06-013-001-00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $353,600 |
PROPERTY TAXES
Parcel Number
06-013-001-00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$353,600
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Thumb Storage and Suite Solutions
977 N Van Dyke Rd - Thumb Storage & Business Suites
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