Industrial
Industrial
for Sale
| Catylist Listing ID: |
30539970 |
| Property Subtypes: |
Flex Space
|
| Building Size (RSF): |
35,067 SF
|
| Gross Land Area: |
2.83 Acres
|
| Sale Price: |
$3,300,000 |
| Unit Price: |
$94.11 PSF |
| Ceiling: |
18 ft. |
| Docks/Doors: |
1 Dock, 3 Doors |
| Property Use Type: |
Net Leased Investment (NNN), Investment |
| Sale Terms: |
Undisclosed, Other |
| Cap Rate: |
8.18% |
| Average Occupancy Rate: |
100 |
| Last Updated: |
1/18/2021 |
Overview / Comments
|
Multi-tenant, flex/industrial building located in Troy. The four-tenant building is 100% occupied and was built in 1986 situated in Troy - one of the most prestigious cities in Oakland County, the wealthiest county in the State of Michigan. The market rates and occupancy levels in Troy are reflective of the desirability of the location. The market-wide average vacancy in Troy for industrial/flex buildings is about 3.82%, making it very difficult to find quality space in the area. As a result of high demand, and consequently low supply of industrial/flex space, rates have continued to increase. The property is located just 1.5 miles southwest of the I-75 freeway, allowing ease of access to Ann Arbor, Detroit, Canada, other main distribution hubs. To our knowledge, the property has been diligently maintained by current owner mitigating the cost of future major capital improvements for roof, outer wall, and parking lot.
|
Additional Details
| Nearest MSA: |
Detroit-Warren-Dearborn |
| County: |
Oakland |
| Submarket/Township: |
Troy South |
| Tax ID/APN: |
2032226013 |
| Zoning: |
LIGHT INDUSTRIAL |
| Property Located Between: |
W. Maple Road |
| Tenancy: |
Multiple Tenants |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Typical SF / Floor: |
35,067 SF |
| Year Built: |
1986 |
| Year Renovated: |
2013 |
| Parking Type: |
Surface |
| Total Parking Spaces: |
135 |
| Overhead Cranes: |
Undisclosed |
| Sprinklers: |
Other |
| Heat Type: |
Other |
| Heat Source: |
Other |
| Air Conditioning: |
Other |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
17,782 |
128,153 |
334,149 |
| Median Age: |
37.95 |
40.12 |
41.11 |
| Households: |
8,834 |
56,473 |
139,686 |
|
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