56495 Grand River AveNew Hudson, MI 48165
- Manufacturing properties
- 20,086 SF
Property Details for 56495 Grand River Ave
- Year built
- 1948
- Lot size
- 3.21 AC
- Property size (Sq ft)
- 20,086 SF
- Zone code
- II
- Property type
- Manufacturing properties
- APN
- K -21-03-352-004
- APU
- K2103352004
Description
This exceptional 19,800-square-foot flex space industrial property in New Hudson, Michigan, presents a compelling investment opportunity. Located at 56495 Grand River Ave, Lyon Charter Township, Oakland County, MI 48165, this single-story, Class C building boasts a 16-foot ceiling height and ample parking (10 spaces per 1,000 sq ft). Built in 1948 and renovated in 1992, the property sits on a substantial 139,828-square-foot lot zoned for Edge District use, reflecting the area's dynamic redevelopment. The property currently generates a pro-forma NOI of $206,000. A significant portion (9,360 sq ft) is leased to a well-established distillery under a negotiable 10-year NNN lease. An additional 6,480 square feet is occupied by a pool company. Approximately 3,960 square feet remains available, with the owner willing to provide a one-year placeholder lease to assist a buyer in securing a long-term tenant. The property's versatile layout includes two fully equipped commercial kitchens, a spacious office area, and a large warehouse with convenient drive-in bays. New Hudson's robust growth, with over 600 new homes and 1,000 new jobs annually, makes this a prime investment in a thriving Southeast Michigan market. The asking price is $2,350,000.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
Alternative Use
- Use
- Valuation
- Residential
- $3,935,738
- Hospitality
- $3,605,115
- Educational
- $2,999,414
- Medical
- $3,102,568
- Retail
- $4,665,754
Location Insight
- City
- New Hudson
- County
- Oakland
- State
- Michigan
- Latitude
- 42.5093
- Longitude
- -83.6112
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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