850 Pannell Street NW

Industrial for Sale
Catylist Listing ID: 30382766
Property Subtypes: Manufacturing, Light Industrial, Warehouse/Distribution
Building Size (RSF): 96,266 SF
Gross Land Area: 9.37 Acres
Sale Price: $1,350,000
Unit Price: $14.02 PSF
Ceiling: 16 ft.
Docks/Doors: 7 Docks, 7 Doors
Office SF: 3,800 SF
Property Use Type: Vacant/Owner-User
Usable Size (USF): 96,266 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/6/2019

Overview / Comments

The property located 850 Pannell St NW is unique in the fact that it is heavy industrial land which is a rare find in today’s real estate market. The building has been stripped of most components, however, it is ready to be renovated for a Buyer’s use. Multiple uses are possible given the fact that there is significant opportunity here for outdoor storage .
The property features multiple ceiling heights and loading docks, however, it will be suitable for a wide variety of uses given its heavy industrial zone and outdoor storage capacity.

NOTE: This property will be deed restricted in a form yet to be confirmed, however, it will be designed to restrict all recycling operations that would be competitive with the Seller’s primary business.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $34,589 (Annual)
Assessed Value - Total($) $686,400 (Annual)

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: Northwest Business District
Taxing Authority: City of Grand Rapids
Tax ID/APN: 41-13-14-226-005
Zoning: SD-IT - MCN
Property Located Between: 3 Mile and Richmond St NW and Alpine Ave NW and Bristol Ave NW
Highway Access: 1.13 Miles to US-131 and 1.52 Miles to I-96
Airports: Gerald R. Ford International Airport
Site Description: LL IN LO
Area Description: DIRECTIONS: ANN TO ALPINE S TO PANNELL W TO PROPERTY
Tenancy: Single Tenant
Number of Stories: 1
Property Condition: Fair
Year Built: 1950
Year Renovated: 1988
Construction/Siding: Metal Siding, Steel Frame
Parking Type: Surface
Parking Description: On Site
Overhead Cranes: Undisclosed
Heat Type: Natural Gas
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,812 105,806 223,034
Median Age: 32.13 33.54 33.7
Households: 3,237 43,735 86,201
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.