164 Indusco Court

Industrial for Sale
Catylist Listing ID: 30724663
Building Size (RSF): 135,217 SF
Gross Building Area: See Agent
Gross Land Area: 8.49 Acres
Sale Price: $14,505,588
Unit Price: $107.28 PSF
Ceiling: 23 ft.
Docks/Doors: 3 Doors
Property Use Type: Investment
Sale Terms: Other
Cap Rate: Undisclosed
Last Updated: 7/29/2021

Overview / Comments

Multi-tenant industrial opportunity with diversified tenant mix. Property is 91% occupied by six (6) tenants in varying industries. Significant portion of rent roll is triple-net leases, providing a risk-averse opportunity with minimal management responsibility. Located in Oakland County, Metro Detroit’s strongest industrial market. Immediate access to the I-75 freeway, ease of access to all of
Metro-Detroit. Oakland County has emerged as a top industrial submarket in the U.S. with a vacancy rate of 2.7% and the city of Troy is a major contributor, representing 27 msf of quality industrial space. New leases to be executed upon close, ensuring long-term cash flow. Property is anchored by Pantero (66,417sf) and Citypace (24,000sf), with both executing 10-year leases upon sale. The current weighted average lease term is 8.26 years, with sole vacancy stemming from the 2nd floor office suite. Recently improved facility with significant
capital improvements completed. Property has been exceptionally maintained including new parking lot added in 2018, and both 1st & 3rd floor office renovations.

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $103,055 (Annual)

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Oakland
Submarket/Township: Troy South
Tax ID/APN: 20-36-476-056
Zoning: I-1
Property Located Between: 14 Mile Rd.
Year Built: 1968
Year Renovated: 2018
Exterior Description: Masonry
Overhead Cranes: Undisclosed
Air Conditioning: Other

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,999 130,244 363,292
Median Age: 40.92 39.73 40.26
Households: 5,678 52,555 150,681
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