55905 92Nd AveDowagiac, MI 49047
- Manufacturing properties
- 58,248 SF
Property Details for 55905 92Nd Ave
- Lot size
- 6.30 AC
- Property size (Sq ft)
- 58,248 SF
- Zone code
- I-1
- Property type
- Manufacturing properties
- APN
- 80-10-032-004-01
- APU
- 801003200401
Description
This exceptional investment opportunity presents a 63,148-square-foot industrial property located at 55905 92nd Ave, Dowagiac, MI 49047. The property consists of two, single-story buildings on a 7.3-acre lot, built in 1955 and zoned for industrial use. Currently operating under a triple-net (NNN) lease with a single tenant, the lease has a remaining term of 7.1 years, expiring January 1, 2032, with options for an additional 10 years. The property boasts a strong 8.00% cap rate and a gross potential rent exceeding $175,000 annually, with built-in 2% annual rent increases. The sale includes parcels 80-10-032-004-00, 80-10-032-004-60, 80-10-032-004-92, and 80-10-032-004-95, acquired on December 17, 2007, and also includes 52366 M-51 N. The property is comprised of three units and features a total net rentable area of 63,148 square feet. The seller will cooperate with 1031 tax-deferred exchanges. This is a rare opportunity to acquire a well-located, income-producing industrial asset with significant long-term potential in Van Buren County, Michigan. The occupancy date for the current lease is January 10, 2024.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
Alternative Use
- Use
- Valuation
- Residential
- $8,557,044
- Hospitality
- $7,838,206
- Educational
- $6,521,296
- Medical
- $6,745,572
- Retail
- $10,144,237
Location Insight
- City
- Dowagiac
- County
- Van Buren
- State
- Michigan
- Latitude
- 42.0844
- Longitude
- -86.0881
- CBSA code
- 28020
- CBSA name
- KALAMAZOO-PORTAGE, MI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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