Listed by Friedman Real Estate
$5,125,000
Forrest Storage of Hastings, Michigan (Grand Rapids area)
Details
APN 08-13-009-012-10
Property Type Industrial, Mixed Use
Sub Type Warehouse
Square Footage 83,880
Net Rentable (SqFt) 83,880
Units 248
Cap Rate 7.40%
NOI $327,273
Occupancy 100%
Pro-Forma Cap Rate 8.00%
Pro-Forma NOI $404,991
Year Built 1980
Year Renovated 2023
Buildings 9
Stories 1
Acreage 7.120
Ground Lease No
Loading Docks 15
Industrial | 8.0% CAP | 83,880 SqFt
Marketing description
On behalf of the Seller, Friedman is proud to bring this seven-acre mixed-use (Self-Storage/Flex/Contractor Bay) facility to market in Hastings, MI (Grand Rapids area).
Investment highlights
- Fully-occupied
- Newly constructed self-storage buildings
- Upside in rent
- Upside in tenant insurance
- Upside in parking revenue
- Paved with a gate and keypad
- Affluent, growing market
- 5,400 NRSF expansion underway
Listing Contacts
Listed by Friedman Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$327,273.00
$27,272.75/mo
Valuation Metrics
0
DSCR
6.39%
Cap Rate
6.39%
ROI
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