$1,463,000
Coldwater, MI 49036
MLS# 21006188
Status: Sold
66250 sqft
1 / 4
Property Description
RARE MULTI-TENANTED INDUSTRIAL INVESTMENT PROPERTY: 66,250 SF industrial building on 5.35-acre parcel in the Coldwater South Industrial Park. Currently 92% occupied with flexible leases, an in-place NOI of $137,500 and cap rate of 8.9%, this multi-tenanted facility offers a variety of opportunities, including as owner-occupied, with short-term leases that allow flexibility and immediate income. Property offers heating and A/C throughout the original 41,250 SF facility with 16' clear ceiling height and 20-24' ceiling height in the 25,000 SF 2005 addition. All with heavy power. Several interior and exterior overhead doors/truck wells located throughout, ample on-site parking with multiple ingress/egress options. Many long-term tenants include DWV Mechanical, C&M Manufacturing,
Details
Location & Property Info
Cross Streets: Jay St. & S. Clay St.
Property Sub-Type: Industrial
Area: Branch County - R
Municipality: Coldwater City
Office/Contract Info
Auction or For Sale: For Sale
List Price/SqFt: 23.4
Prop Avail for Lease?: No
Current Bldg Use: Multi-Tenanted Industrial Building
General Property Info
New Construction: No
Lot Dimensions: Irregular
Road Frontage: 1
Waterfront: No
Year Remodeled: 1995
Total # Units: 1
Total # Bldgs: 1
# Fin Bldg Lvls: 1
Total SqFt: 66250
Total Net SqFt: 66250
Property Use Type: Investment
School District: Coldwater
Lot Measurement: Acres
Lot Acres: 5.35
Lot Square Footage: 233046
Year Built: 1969
Tax Info
Taxable Value: 306901
SEV: 330100
For Tax Year: 2020
Seller's Annual Property Tax: 18904
Tax Year: 2020
Homestead %: 0
Spec Assessment & Type: None known
Non-Conforming Use: No
Zoning: D2 Heavy Ind
Tax ID #: 304-000-000-577-00
Remarks & Misc
Public Remarks: RARE MULTI-TENANTED INDUSTRIAL INVESTMENT PROPERTY: 66,250 SF industrial building on 5.35-acre parcel in the Coldwater South Industrial Park. Currently 92% occupied with flexible leases, an in-place NOI of $137,500 and cap rate of 8.9%, this multi-tenanted facility offers a variety of opportunities, including as owner-occupied, with short-term leases that allow flexibility and immediate income. Property offers heating and A/C throughout the original 41,250 SF facility with 16' clear ceiling height and 20-24' ceiling height in the 25,000 SF 2005 addition. All with heavy power. Several interior and exterior overhead doors/truck wells located throughout, ample on-site parking with multiple ingress/egress options. Many long-term tenants include DWV Mechanical, C&M Manufacturing,
Legal: Attached
Status Change Info
Sold Price/SqFt: 22.08
Under Contract Date: 2021-03-19
Sold Date: 2021-07-15
Sold Price: $1,463,000
Additional Details
# Loading Docks/Well: 5
Grd Lvl OH Doors: 10
Ceiling Height: 24
Power/Phase: 3
Power/Voltage: 1200-2000 A/480 V
Street Type
Paved: 1
Public: 1
Utilities Attached
Cable Connected: 1
Electricity Connected: 1
Natural Gas Connected: 1
Phone Connected: 1
Sewer
Public Sewer: 1
Water
Public Water: 1
Uses
Distribution: 1
Manufacturing: 1
Professional Service: 1
Professional/Office: 1
Storage: 1
Construction Type
Block: 1
Steel: 1
Exterior Material
Brick: 1
Metal Siding: 1
Stone: 1
Roofing
Metal: 1
Stone: 1
Heat Source
Natural Gas: 1
Sale Conditions
None: 1
Ownership
LLC: 1
Below Grade
None: 1
Heat Type
Forced Air: 1
Air Conditioning
Central Air: 1
Business Includes
Non-Applicable: 1
Additional Features
Clearspan: 1
Fire Sprinkler: 1
Multi User Facility: 1
Util Avail at St
Cable Available: 1
Electricity Available: 1
Natural Gas Available: 1
Phone Available: 1
Driveway
Paved: 1
Docs Req Conf Agrmnt
Financials: 1
Send to Econ Dev Org
MEDC: 1
SWMI First, Region 5: 1
Purchase Terms Avail
Cash: 1
Possession
Close Of Escrow: 1
Location Property Info
County: Branch
Street #: 127-129
Street Name: Industrial
Suffix: Avenue
State: MI
Zip Code: 49036
Zip (4): 2178
OfficeContract Info
Status: Sold
Current Price: $1,463,000
List Price: $1,550,000
Listing Date: 2021-03-01
Remarks Misc
Directions: Located 2.5 miles SW of I-69 in the Coldwater South Industrial Park.
Property Features
Uses: Distribution; Manufacturing; Professional Service; Professional/Office; Storage
Ownership: LLC
Business Includes: Non-Applicable
Construction Type: Block; Steel
Exterior Material: Brick; Metal Siding; Stone
Roofing: Metal; Stone
Below Grade: None
Additional Features: Clearspan; Fire Sprinkler; Multi User Facility
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected
Util Avail at St: Cable Available; Electricity Available; Natural Gas Available; Phone Available
Heat Source: Natural Gas
Heat Type: Forced Air
Air Conditioning: Central Air
Driveway: Paved
Street Type: Paved; Public
Purchase Terms Avail: Cash
Docs Req Conf Agrmnt: Financials
Sale Conditions: None
Send to Econ Dev Org: MEDC; SWMI First, Region 5
Possession: Close Of Escrow
Supplements
Biz Aid, Infinisource, Sterling Technologies and Groholski Manufacturing Solutions.
Listing Office: NAI Wisinski of West Michigan
Listing Agent: Jodi K Milks
Last Updated: January - 07 - 2023
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