3060 Madison Ave SE - Service FOR SALE


Grand Rapids, MI 49548- Outer Kentwood/Wyoming
$1,400,000 USD
616-699-5088
3060 Madison Ave SE, Grand Rapids, MI for Sale
$1,400,000 USD
Service - FOR SALE
1/21
null | 9.82% Cap Rate

3060 Madison Ave SE
Grand Rapids, MI 49548
Outer Kentwood/Wyoming


HIGHLIGHTS

  • Easy to lease
  • High Traffic Industrial area
  • Close to expressway
  • Seller Financing

OVERVIEW

Over the past two years, I have improved the rents and replaced several Tenants. This project is now stabilized and will be easy to manage. I offer my continued assistance for the future. The largest space in the building has a month-to-month tenant that has been in place for a decade or so.  The business is for sale, and as of right now, they don't want to commit to a long-term lease.  I have a lot of interest in the space, but I want to allow an owner-occupant to buy the building. I have that space listed for $9/SF on a NNN lease, and have calculated the income from that space at $7.50/SF, as that price is fairly easy to achieve. The owner would be willing to Seller-Finance with a strong buyer and adequate terms. Approximate Terms: Purchase Price: $1,400,000 Down Payment: $280,000 (20%) Seller Financing: Balance of $1,120,000 carried by Seller Interest Rate: 6.00% (amortized over 300 months) Balloon Payment: 5 years (60 months) Payment: $7,216.18 Cash Flow after debit service: $43,570

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$91 USD /SF

CAP RATE

9.82%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Service

ADD'L SUBTYPES

undefined, Showroom, Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1964

UTILITIES

Lighting, Gas, Water, Sewer, Heating

CLEAR CEILING HT

14 Ft

DOCKS

1

DRIVE INS

1

PARKING SPACES

40

LAND DETAILS

LAND ACRES

0.93

LAND SF

40,511

ZONING

B-2

APN/PARCEL ID

41-18-18-251-001

ASK ABOUT THIS PROPERTY

Patrick MohneyBlue Rock Commercial Real EstateMore Info
616-699-5088

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Patrick MohneyBlue Rock Commercial Real EstateMore Info
616-699-5088

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.