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5505 52nd Street SE 5505 52nd St SE 70,000 SF 100% Leased Industrial Building Grand Rapids, MI 49512 $9,168,155 CAD ($130.97 CAD/SF) 7% Cap Rate
Investment Highlights
- 65% Pro Rata is Absolute Net Lease
- Mark to Market Opportunity
- Partial Sale Leaseback
Executive Summary
Advantage Commercial Real Estate is pleased to present a two-tenant, 70,000 SF industrial property, with a partial sale-leaseback opportunity located at 5505 52nd St, Grand Rapids, MI 49512. McCarthy Group occupies 24,500 SF, 35% of the property, and upon close, will sign a lease at $8.91/SF net lease. The remaining 65% is occupied by Pioneer Molded Products on a short-term, absolute net, lease at a severely under market lease rate.
Property Facts
| Price | $9,168,155 CAD | Lot Size | 12.39 AC |
| Price Per SF | $130.97 CAD | Rentable Building Area | 70,000 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 7% | Year Built | 2006 |
| Property Type | Industrial | Parking Ratio | 1.01/1,000 SF |
| Property Subtype | Manufacturing | No. Dock-High Doors/Loading | 8 |
| Building Class | C | No. Drive In / Grade-Level Doors | 2 |
| Zoning | I | ||
| Price | $9,168,155 CAD |
| Price Per SF | $130.97 CAD |
| Sale Type | Investment |
| Cap Rate | 7% |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Lot Size | 12.39 AC |
| Rentable Building Area | 70,000 SF |
| No. Stories | 1 |
| Year Built | 2006 |
| Parking Ratio | 1.01/1,000 SF |
| No. Dock-High Doors/Loading | 8 |
| No. Drive In / Grade-Level Doors | 2 |
| Zoning | I |
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 41-19-30-400-019 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $3,170,827 CAD |
Property Taxes
Parcel Number
41-19-30-400-019
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$3,170,827 CAD
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5505 52nd Street SE | 5505 52nd St SE
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