Investment offering represents a building secured by a brand new 15 year NNN lease from Kindel Furniture Co and the Taylor Company; two highly respected Grand Rapids based companies with a long history of manufacturing in Grand Rapids, MI. The companies produce high end specialty furniture and niche wood carved prodcuts for worldwide distribution from this facility. The sale represents a 9% cap based on in-place income and a value of $50,000/acre for the currently vacant 7.5 acres. The existing building offers 90,438 SF of main level manufacturing and office space and 7,000 sf of additional mezzanine space, totaling 97,438 SF ($26.10/SF). The parcel is comprised of 14.5 acres with street access to Eastern Avenue, 40th Avenue, and Linden Street located directly East of Roger B Chaffee.
INDIV ELECTRIC METER: Yes. INDIV GAS METER: Yes. - Tenancy: Single Tenant
|25 Mb/s: Comcast|
|1.5 Mb/s: AT&T Michigan|
|6 Mb/s: MegaPath Corporation|
Median rate is a number derived from the median rate of listings posted on 42floors and reports from thought leaders in the area.