3100-3102 Walker Ridge Dr NW - Light Manufacturing FOR SALE


Grand Rapids, MI 49544- North Grand Rapids
$11,200,000 USD
616-264-3335
3100-3102 Walker Ridge Dr NW, Grand Rapids, MI for Sale
$11,200,000 USD
Light Manufacturing - FOR SALE
1/8
null | 6.75% Cap Rate

3100-3102 Walker Ridge Dr NW
Grand Rapids, MI 49544
North Grand Rapids


OVERVIEW

The Press Building, located at 3100 Walker Ridge in Walker MI, is 179,506 total SF and sits on 10.8 acres. The Current Tenant will sign a new 3-year NNN lease at close for 100% of the property. The starting rental rate will be well below market, with no options. The lease will provide a new Landlord with take back provisions, creating an opportunity to backfill and replace at substantially higher rents. The Press Building offers a unique mix of warehouse, flex and office space and all 179k SF is heated and cooled. The “mix” of space, together with its over engineered structure will provide opportunities for leasing to specialty uses paying higher rents.

FOR SALE DETAILS

PRICE

$11,200,000 USD

PRICE/SF

$47 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Grand Rapids Press

PROPERTY TYPE

Flex

PROPERTY SUBTYPE

Light Manufacturing

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2002

UTILITIES

-

CLEAR CEILING HT

30 Ft

DOCKS

33

DRIVE INS

5

PARKING SPACES

265

LAND DETAILS

LAND ACRES

21.14

LAND SF

920,858

ZONING

C

APN/PARCEL ID

41-13-04-302-010

ASK ABOUT THIS PROPERTY

616-264-3335

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616-264-3335

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