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13501 AUBURN ST, DETROIT, MI 48223

AA
MI 6502342204
ReMax Leading Edge (office)
Listed by ReMax Leading Edge (office)
$650,000
43 days on market
Updated 43 days ago

13501 AUBURN Street, Detroit, Michigan 48223

Details
APN 22092713.003L
Property Type Industrial
Square Footage 8,576
Net Rentable (SqFt) 100
Units 1
Cap Rate 9.74%
NOI $63,285
Occupancy 100%
Tenancy Single
Lease Term 4.7
Lease Expiration 07/31/2027
Remaining Term 1.1
Price per SqFt $76
Year Built 1964
Year Renovated 2018
Buildings 2
Stories 1
Lot Size (SqFt) 19,080
Zoning Industrial M3
Investment Type Institutional
Lease Commencement 12/01/2022
Ground Lease No
Ceiling Height 15
Dock High Doors 2

About This Property

Marketing description

Prime industrial opportunity located on a well-positioned industrial corridor in Detroit. This property features three buildings totaling over 10,000 square feet of flexible space, ideal for a variety of industrial or specialized uses. Equipped with 400-amp, 3-phase electrical service, the main building offers multiple bathrooms and floor drains, ready for customization to suit your operational needs. The property is well-suited for MMFLA cultivation and/or processing licenses, presenting a strong opportunity in a growing sector. The sale includes the adjacent property at 13503 Auburn, adding further value and functionality. Currently tenant-occupied, the property generates $5,600 per month on a NNN lease, providing immediate income for investors. The lease expires in July 2027. The landlord is responsible only for taxes on 13503 Auburn, while the tenant covers taxes for 13501 Auburn, enhancing the investment appeal. Ideal for both owner-users and investors seeking a versatile, income-producing industrial asset.

Investment highlights

Prime industrial opportunity located on a well-positioned industrial corridor in Detroit. This property features three buildings totaling over 10,000 square feet of flexible space, ideal for a variety of industrial or specialized uses. Equipped with 400-amp, 3-phase electrical service, the main building offers multiple bathrooms and floor drains, ready for customization to suit your operational needs. The property is well-suited for MMFLA cultivation and/or processing licenses, presenting a strong opportunity in a growing sector. The sale includes the adjacent property at 13503 Auburn, adding further value and functionality. Currently tenant-occupied, the property generates $5,600 per month on a NNN lease, providing immediate income for investors. The lease expires in July 2027. The landlord is responsible only for taxes on 13503 Auburn, while the tenant covers taxes for 13501 Auburn, enhancing the investment appeal. Ideal for both owner-users and investors seeking a versatile, income-producing industrial asset.

Listing Contacts

AA
MI 6502342204
ReMax Leading Edge (office)
Listed by ReMax Leading Edge (office)

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$63,285.00
$5,273.75/mo

Valuation Metrics

0
DSCR
9.74%
Cap Rate
9.74%
ROI

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