45 Franklin St SW - Warehouse FOR SALE


Grand Rapids, MI 49507- Madison Area
$3,288,343 USD
248-351-2005
45 Franklin St SW, Grand Rapids, MI for Sale
$3,288,343 USD
Warehouse - FOR SALE
1/4
null | 7% Cap Rate

45 Franklin St SW
Grand Rapids, MI 49507
Madison Area


HIGHLIGHTS

  • Mission-Critical Facilities: this site serves as the tortilla manufacturing facility for Garden Fresh Gourmet
  • Long-Term Historical Occupancy: Garden Fresh Gourmet has been operating out of this site for over two decades

OVERVIEW

Positioned in the heart of Grand Rapids, Garden Fresh signed a new 5-year lease in 2021, with just under two years remaining now. Garden Fresh has five 5-year options, the first with a 10% rental increase, the remaining four with market rent escalators. The lease is on a NNN basis. Garden Fresh Gourmet started in Ferndale (Detroit), MI nearly 20 years ago. Today, Garden Fresh Gourmet is a multi-national brand, and America’s #1 refrigerated salsa brand. They also offer a variety of additional products, including tortilla chips, hummus, dips, and salads

FOR SALE DETAILS

PRICE

$3,288,343 USD

PRICE/SF

$66 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Garden Fresh

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1989

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

3

DRIVE INS

1

PARKING SPACES

40

LAND DETAILS

LAND ACRES

3.8

LAND SF

165,528

ZONING

SD-IT

APN/PARCEL ID

41-13-36-282-038

ASK ABOUT THIS PROPERTY

248-351-2005

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248-351-2005

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