$1,890,000
Dowagiac, MI 49047
MLS# 23144901
63148 sqft
1 / 9
Property Description
Investment Opportunity with Triple Net Industrial Lease! Gross Potential rent of over 175K with annual 2 % increases. Cap rate over 8%. Owner will cooperate with tax deferred exchanges! 8 years left on current lease with options for 10 more years. 63,000 s.f .total with a total of 7.1 acres.
Details
Maps
Location & Property Info
County: Van Buren
Street #: 55905
Street Name: 92nd
Suffix: Avenue
State: MI
Zip Code: 49047
Cross Streets: 92nd & 56th St.
Property Sub-Type: Industrial
Area: Greater Kalamazoo - K
Municipality: Hamilton Twp
Office/Contract Info
Status: Active
Current Price: $1,890,000
List Price: $1,890,000
Auction or For Sale: For Sale
List Price/SqFt: 29.93
Prop Avail for Lease?: No
Sub Agency Type: %
Buyer Agency: 1
Buyer Agency Type: %
Trans Coord Type: %
Listing Date: 2023-12-14
General Property Info
New Construction: No
Lot Measurement: Acres
Lot Acres: 7.3
Lot Square Footage: 317988
Lot Dimensions: Irregular
Year Built: 1955
Road Frontage: 542
Year Remodeled: 2008
Total # Units: 2
# Fin Bldg Lvls: 1
Total # Bldgs: 3
Total SqFt: 63148
Property Use Type: Investment
Full Baths: 3
Waterfront: No
School District: Decatur
Tax Info
Tax ID #: 801003200401
Taxable Value: 630600
SEV: 630600
For Tax Year: 2023
Annual Property Tax: 24652.2
Tax Year: 2022
Spec Assessment & Type: None known
Zoning: industrial
Remarks & Misc
Legal: see attached document
Directions: M-51 Highway to 92nd st. property is at 56th St & 92nd St
Additional Details
# Loading Docks/Well: 4
Ceiling Height: 18
SqFt Information
Total Bldg Office Sq: 3332
Total Bldg SqFt (Gro: 63000
Total Bldg Warehse S: 59816
Property Features
Property Use: Business; Investment; Net Leased (nnn)
Uses: Distribution; Manufacturing
Business Includes: Real Estate
Construction Type: Frame/Wood
Exterior Material: Metal Siding
Roofing: Metal
Additional Features: Multi User Facility
Tenant Pays All: Electric; Gas; Trash
Sewer: Septic System
Water: Well
Utilities Attached: Electric; Natural Gas; Telephone
Util Avail at St: Telephone
Heat Source: Propane
Heat Type: Forced Air
Driveway: Paved
Street Type: Paved; Public
Purchase Terms Avail: Cash; Conventional
Sale Conditions: None
Send to Econ Dev Org: MEDC; SWMI First, Region 5
Listing Office: O'Brien Real Estate
Listing Agent: Pat O'Brien
Last Updated: March - 04 - 2024
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