Sale/Leaseback Opportunity - 6259 Norton Center Dr

Industrial for Sale
Catylist Listing ID: 30594020
Property Subtypes: Free-Standing, Industrial-Business Park, Manufacturing, Light Industrial, Warehouse/Distribution
Building Size (RSF): 24,036 SF
Gross Land Area: 1.79 Acres
Sale Price: $925,000
Unit Price: $38.48 PSF
Ceiling: 16 ft.
Docks/Doors: 1 Dock, 3 Doors
Office SF: 3,000 SF
Property Use Type: Investment
Sale Terms: Sale/Leaseback
Cap Rate: 9.0%
Average Occupancy Rate: 100
Last Updated: 7/10/2020

Overview / Comments

SALE / LEASEBACK OPPORTUNITY

The property located at 6259 Norton Center Dr is presently being occupied by CSE. CSE has occupied the building since they acquired the building in 2015.

The property is in good condition and contains a nice compliment of office space and warehouse / manufacturing space. The building features heavy power. This facility serves as the CSE corporate headquarters and contains all of its engineering and design staff as well as its tool making capabilities.

At close the Seller will sign a 5 year triple net lease at $3.50 psf back to the Buyer.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $11,493 (Annual)
Assessed Value - Total($) $218,100 (Annual)

Additional Details

Nearest MSA: Muskegon-Norton Shores
County: Muskegon
Submarket/Township: Other area
Taxing Authority: City of Norton Shores
Tax ID/APN: 61-27-675-000-0014-00
Zoning: GI - GENERAL INDUSTRIAL
Property Located Between: Grand Haven Rd and US-31 and Pontaluna Rd and E Mount Garfield Rd
Highway Access: 1.05 Miles to US-31 and 3.25 Miles to I-96
Airports: Muskegon County Airport and Gerald R Ford International Airport
Site Description: City of Norton Shores Norton Industrial Center No 1 Lots 14 and 15
Area Description: DIRECTIONS: US-31 to Pontaluna exit, west to Grand Haven Rd., North to Norton Center Industrial Park.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 1978
Year Renovated: 1990
Construction/Siding: Steel Frame
Parking Type: Surface
Parking Description: On Site
Overhead Cranes: Undisclosed
Volts: 440
X-Phase: 3 Phase
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Lighting: Fluorescent
Lot Frontage: 250.02
Lot Depth: 312.00
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,918 24,574 73,320
Median Age: 35.05 42.13 40.38
Households: 1,236 9,745 28,282
The information presented herein is provided as is, without warranty of any kind. Neither Commercial Alliance of REALTORS West Michigan nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.