1643 Imlay City Rd - Manufacturing FOR SALE


Lapeer, MI 48446
$895,000 USD
248-343-2215
1643 Imlay City Rd, Lapeer, MI for Sale
$895,000 USD
Manufacturing - FOR SALE
1/3
null | 8.94% Cap Rate

1643 Imlay City Rd
Lapeer, MI 48446


HIGHLIGHTS

  • New roof in 2016
  • Fully leased. Existing tenant has been there for 25 years.
  • Existing land allowing for expansion or additional buildings up to 80,000 +/- SQ FT

OVERVIEW

The building is 9,600 Square Feet on 4.63 acres zoned M-1 which leaves land that can be used for expansion of the existing building or build more buildings up to a maximum of 80,000 +/- Square Feet. The land can be split into 2 separate parcels. The existing building was built in 1996 at 7,200 SF and a 2,400 S.F. addition was added in 2014 for the current total of 9,600 S.F. The building has a water well and septic system. Imlay City Road is a major East West Road and the property is located just East of the Lapeer City limits. It had a new roof constructed in 2016. It has a natural gas heating system. I have a survey of the property. The real estate taxes in 2023 were $10,661.330 and the building insurance was $2,200.00 both paid by the landlord. Rent is currently $90,000 per year increasing to $95,000 per year in 3 years. The current tenant has occupied the building for 25 years and signed a new 5 year lease with increases in year 4. The tenant is a subsidiary of a major corporation which has 12 other locations in Michigan

FOR SALE DETAILS

PRICE

$895,000 USD

PRICE/SF

$93 USD /SF

CAP RATE

8.94%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Manufacturing

ADD'L SUBTYPES

undefined, Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1996

UTILITIES

Lighting - Fluorescent, Gas - Natural, Water - Well, Sewer - City

CLEAR CEILING HT

12 Ft

DOCKS

-

DRIVE INS

2

PARKING SPACES

20

LAND DETAILS

LAND ACRES

4.62

LAND SF

201,247

ZONING

C-1

APN/PARCEL ID

012-003-033-00

ASK ABOUT THIS PROPERTY

Carl CyrowskiCyrowski Real Estate, LLCMore Info
248-343-2215

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Carl CyrowskiCyrowski Real Estate, LLCMore Info
248-343-2215

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.