Properties for sale in Michigan

127-129 Industrial Avenue, Coldwater, MI 49036

$1,463,000

Property Type: Commercial Sale Square Footage: 66,250 Lot Size (sq. ft.): 233,046 Status: Sold

Current Price: $1,463,000 List Date: 3/02/2021 Last Modified: 1/07/2023

Overview

Description

RARE MULTI-TENANTED INDUSTRIAL INVESTMENT PROPERTY: 66,250 SF industrial building on 5.35-acre parcel in the Coldwater South Industrial Park. Currently 92% occupied with flexible leases, an in-place NOI of $137,500 and cap rate of 8.9%, this multi-tenanted facility offers a variety of opportunities, including as owner-occupied, with short-term leases that allow flexibility and immediate income. Property offers heating and A/C throughout the original 41,250 SF facility with 16' clear ceiling height and 20-24' ceiling height in the 25,000 SF 2005 addition. All with heavy power. Several interior and exterior overhead doors/truck wells located throughout, ample on-site parking with multiple ingress/egress options. Many long-term tenants include DWV Mechanical, C&M Manufacturing,

Supplements: Biz Aid, Infinisource, Sterling Technologies and Groholski Manufacturing Solutions.

Listing Details MLS# 21006188

Location Property Info

County: Branch
Street #: 127-129
Street Name: Industrial
Suffix: Avenue
State: MI
Zip Code: 49036
Zip (4): 2178

General Property Info

New Construction: No
Lot Measurement: Acres
Lot Acres: 5.35
Lot Square Footage: 233046
Lot Dimensions: Irregular
Year Built: 1969
Road Frontage: Yes
Year Remodeled: 1995
Total # Units: Yes
# Fin Bldg Lvls: Yes
Total # Bldgs: Yes
Total SqFt: 66250
Total Net SqFt: 66250
Property Use Type: Investment
Waterfront: No
School District: Coldwater

Tax Info

Tax ID #: 304-000-000-577-00
Taxable Value: 306901
SEV: 330100
For Tax Year: 2020
Seller's Annual Property Tax: 18904
Tax Year: 2020
Spec Assessment & Type: None known
Non-Conforming Use: No
Zoning: D2 Heavy Ind

Remarks Misc

Directions: Located 2.5 miles SW of I-69 in the Coldwater South Industrial Park.

Status Change Info

Under Contract Date: 2021-03-19
Sold Date: 2021-07-15
Sold Price/SqFt: 22.08

More Information

Additional Details

# Loading Docks/Well: 5
Grd Lvl OH Doors: 10
Ceiling Height: 24
Power/Phase: 3
Power/Voltage: 1200-2000 A/480 V

Property Features

Uses: Distribution; Manufacturing; Professional Service; Professional/Office; Storage Ownership: LLC Business Includes: Non-Applicable Construction Type: Block; Steel Exterior Material: Brick; Metal Siding; Stone Roofing: Metal; Stone Below Grade: None Additional Features: Clearspan; Fire Sprinkler; Multi User Facility Sewer: Public Sewer Water: Public Water Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected Util Avail at St: Cable Available; Electricity Available; Natural Gas Available; Phone Available Heat Source: Natural Gas Heat Type: Forced Air Air Conditioning: Central Air Driveway: Paved Street Type: Paved; Public Purchase Terms Avail: Cash Docs Req Conf Agrmnt: Financials Sale Conditions: None Send to Econ Dev Org: MEDC; SWMI First, Region 5 Possession: Close Of Escrow

Listing Office: NAI Wisinski of West Michigan

Listing Agent: Jodi K Milks

Last Updated: January - 07 - 2023

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