524 Imaly City Rd
Industrial
for Sale
| Catylist Listing ID: |
30851978 |
| Property Subtypes: |
Flex Space, Light Industrial, Other
|
| Building Size (RSF): |
9,207 SF
|
| Gross Land Area: |
23,087 SF
|
| Sale Price: |
$980,000 |
| Unit Price: |
$106.44 PSF |
| Ceiling: |
8 ft. |
| Docks/Doors: |
3 Doors |
| Office SF: |
2,000 SF |
| Drive In Bays: |
3 Bays |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Investment |
| Usable Size (USF): |
9,207 SF |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Average Occupancy Rate: |
95 |
| Last Updated: |
9/13/2023 |
Overview / Comments
Great building for an Owner/User. This Commercial property is currently housing tenants of type retail, restaurant and auto shop. Auto Shop Owner is offering a buy with lease back opportunity. Location offers excellant visibility with neighboring businesses Dollar General, Tractor Supply and McDonald's to name a few.
Traffic count of 20,000+ daily.
|
Current Tenants
| Tenant Business Name |
The Burger Barn of Lapeer |
| Industry Type |
Accommodation and Food Services |
| Is Renting? |
Yes |
| Current Rent |
$15,600 PSF (Annual) |
| Tenant Notes |
Step Lease in place - 5 year term |
| Tenant Business Name |
Felton's Body Shop |
| Is Renting? |
Yes |
| Annual Revenue |
$42,000 (Annual) |
| Tenant Notes |
Currently Owner User |
| Tenant Business Name |
Russell's Barber Shop |
| Is Renting? |
Yes |
| Current Rent |
$6,000 PSF (Annual) |
| Tenant Notes |
Monthly rent $500 |
| Tenant Business Name |
NuStar Insurance |
| Is Renting? |
Yes |
| Current Rent |
$12,000 PSF (Annual) |
| Tenant Notes |
Month to Month $1000 per month |
Additional Details
| Nearest MSA: |
Detroit-Warren-Dearborn |
| County: |
Lapeer |
| Taxing Authority: |
Lapeer City |
| Tax ID/APN: |
L213650104000 |
| Zoning: |
COMMERCIAL |
| Property Located Between: |
S. Saginaw St. and Morris Rd |
| Highway Access: |
I-69 East & West
M24 North & South |
| Site Description: |
Great location with easement access shared with Dollar General
W Genesee turns into Imlay City Rd just east of the City of Lapeer
20,000 + traffic count
Well maintained building with full occupancy |
| Area Description: |
City of Lapeer is growing beyond it's Rural description as a main City Hub between Port Huron and Flint.
The development of Retail has been strong for several years and the City has expanded to the M24 & Baldwin Rd center.
Businesses are growing as the Planners have provided a Live Work community for Industrial workers to grow their businesses just outside of town in the Demille Industrial area.
A combination of rural farming, Industrial manufacturing and stron retail provide the community with many opportunities! |
| Tenancy: |
Multiple Tenants |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Typical SF / Floor: |
2,000 SF |
| Property Condition: |
Good |
| Year Built: |
1947 |
| Year Renovated: |
2021 |
| Roof Type: |
Gable |
| Construction/Siding: |
Block |
| Exterior Description: |
Block exterior with grade level doors are at the south of the building where the Auto Shop is. Towards the front half of the building you'll find wood siding covering the block for the Office and Restaurant areas. |
| Parking Ratio: |
10 (per 1000 SF) |
| Parking Type: |
Surface |
| Parking Description: |
Dedicated parking alongside the building, with shared parking available with General Dollar. |
| Total Parking Spaces: |
10 |
| Eave Height: |
10 |
| Overhead Cranes: |
Undisclosed |
| Sprinklers: |
None |
| Amps: |
220 |
| X-Phase: |
3 |
| Heat Type: |
Natural Gas |
| Heat Source: |
Central, Ceiling Units |
| Air Conditioning: |
Engineered System |
| Lighting: |
Fluorescent |
| Internet Access: |
Cable, Satellite, Fiber Optic |
| Interior Description: |
Restaurant - well maintained with ample seating - long term client
Barber Shop - well maintained with personal service - long term client
Insurance - nice offices for professional service provider - long term client
Auto Shop - Owner User - very clean office and shop area! |
| Zoning Description: |
Commercial |
| Lot Frontage: |
101 |
| Lot Depth: |
309 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Easements: |
Other |
| Easements Description: |
Shared Easement with neighboring General Dollar |
| Land Ownership: |
Privately Owned |
| Legal Description: |
CITY OF LAPER ROOD'S PAVED-WAY (L=1 P=76 SEC 4, T7N-R10E) E 97 FT OF LOT 1, DESC COM ELY ALG N LOT LN 68.55 FT FRM NW LOT COR, TH ELY ALG N LOT LN 96.45 FT; TH SLY ALG E LOT LN 239.24 FT TO SE LOT COR; TH WLY ALG S LOT LN 96.75 FT; TH N0*03'49'E 251.81 FT TO POB 44-12-560-001-50 |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
4,295 |
18,355 |
25,355 |
| Median Age: |
35.36 |
39.47 |
41.02 |
| Households: |
1,770 |
7,003 |
9,612 |
|
© Copyright 2001-2023 Moody's. All Rights Reserved.
The information presented herein is provided as is, without warranty of any kind.
Neither Commercial Property Information Exchange (CPIX) nor
Moody's assume any liability for errors or omissions.
|
