549 Seminole RdNorton Shores, MI 49444

For Sale
$128,500

Executive Office, High NOI, Great Location

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional 1,084 square foot executive office condo, situated within the prestigious Seminole Woods Office Park at 549 Seminole Rd. Suite 103, Norton Shores, MI 49444, presents a compelling investment opportunity. Boasting a strong 7.57% cap rate and a Net Operating Income (NOI) of $9,724, this Class B property offers significant return potential. The building, constructed in 2005 and renovated in 2018, is part of a two-building complex on a 3-acre lot, providing ample parking (130 spaces). Currently 100% occupied by a solid tenant under a modified lease with a remaining term of three years (expiring December 31, 2026), this property benefits from annual rent bumps. The lease commenced September 28, 2023, and features a 3-year term. The property is zoned PUD and offers an open and airy layout. The convenient location provides easy access to Seaway Dr. in a high-traffic area. The tenant contributes $2284 annually towards common area maintenance (CAM). The asking price is $128,500. This is a turnkey investment opportunity with a strong tenant and excellent location. The total square footage of the entire park is 10,430 square feet.

Highlights

  • 1,084 SF executive office condo in prestigious Seminole Woods Office Park, Norton Shores, MI.
  • Recently remodeled Class B property with a 7.57% cap rate and $9,724 NOI.
  • 100% occupied with a 3-year lease (expiring 12/31/2026) featuring annual rent increases; lease commenced 9/28/2023.

Property Details for 549 Seminole Rd

Property type
Other office properties, Office properties
Square Feet
10,430 SF
Class
B
Year Built/Renovated
2005/2018
Buildings
2
Stories
1
Lot Size (sq. ft)
130,680 SF

Location Insight

City
Norton Shores
County
Muskegon
State
Michigan
Latitude
43.1861692
Longitude
-86.2576606
549 Seminole Rd, Norton Shores, Michigan

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549 Seminole Rd
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