135 Zavada DrCrystal Falls, MI 49920

Property Details for 135 Zavada Dr

Lot size

0.72 AC

Property size (Sq ft)

5,500 SF

Property type

Warehouses

APN

052-030-003-00

APU

5203000300

Description

This 5,000-square-foot flex space industrial property in Crystal Falls, Michigan, is offered for sale at $300,000. The property, built in 1995, sits on approximately one-third of an acre, offering potential for expansion. Currently leased under a triple-net (NN) lease to a single tenant in the flooring business, the lease extends until November 30, 2027, with a tenant renewal option. The annual rent is $30,000, with the tenant responsible for all utilities and contributing $1,000 annually towards real estate taxes. The landlord handles snow plowing. The property boasts a 12-foot ceiling height and three dock-high doors. The current net operating income (NOI) is approximately $24,000, resulting in an 8% capitalization rate. This stabilized investment property is classified as Class B and presents an excellent opportunity, particularly for a 1031 exchange. The property has received a favorable appraisal. The address is 135 Zavada Dr, Crystal Falls, MI 49920.

• Alternative Use

  Use

  Valuation

  Residential

  $1,136,706

  Hospitality

  $1,041,217

  Educational

  $866,280

  Medical

  $896,073

  Retail

  $1,347,547

Location Insight

City

Crystal Falls

County

Iron

State

Michigan

Latitude

46.0986

Longitude

-88.3526

Property Tax & Assessments

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