16860 M-32 East

Industrial for Sale
Catylist Listing ID: 30181274
Property Subtypes: Flex Space, Free-Standing, Mixed Use
Building Size (RSF): 9,500 SF
Gross Land Area: 10 Acres
Sale Price: $425,000
Unit Price: $44.74 PSF
Ceiling: 12 ft.
Docks/Doors: 2 Doors
Office SF: 2,000 SF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/16/2017

Overview / Comments

East of Atlanta MI. Leased to State of Michigan to 2019 with additional 5 year options to 2029. Lease is currently $50,000 per year. Leased since 1999. Tenant pays utilities & snow, landlord pays Taxes, building insurance & lawn care.
Office has kitchen, 8 offices, 2 restrooms, reception area, conference room & meeting room. Shop and garage have storage rooms in addition to large open area. Floor plan on file.
SUBJECT TO TENANTS RIGHTS
2017 Property Taxes: $3,100

Additional Details

Nearest MSA: Alpena
County: Montmorency
Tax ID/APN: 022010000070
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1992
Construction/Siding: Aluminum Siding, Steel Frame
Parking Type: Surface
Overhead Cranes: Undisclosed
Volts: 220
Heat Type: Electricity, Natural Gas
Heat Source: Central, Radiant
Air Conditioning: Package Unit
Water Service: Well
Sewer Type: Septic

Demographic Statistics

Proximity: 5 miles
Total Population: 1,898
Median Age: 48.87
Households: 813
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