14170 172Nd AveGrand Haven, MI 49417

For Sale
$3,435,462

59,559 SF NNN Lease, 6.5% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
96
This exceptional investment opportunity presents a single-tenant, absolute NNN leased industrial manufacturing facility located at 14170 172nd Ave, Grand Haven, MI 49417. The property boasts a substantial 59,559 square feet of space, situated on a 14.47-acre lot. Built in 1975, this well-maintained building features high-bay concrete and steel construction, ideal for manufacturing operations. The property includes 5 loading docks and 6 dock-high doors, facilitating efficient material handling. The ceiling height is 16 feet, providing ample vertical space. The current lease, with a remaining term of 21.6 years (expiring July 7, 2046), offers significant long-term stability. The lease incorporates a 3.5% annual rent bump, ensuring consistent income growth. With a Net Operating Income (NOI) of $223,305 and an asking price of $3,435,462, this property offers a compelling 6.50% capitalization rate. This is a rare opportunity to acquire a well-located, high-quality industrial asset with a strong tenant and substantial remaining lease term in the thriving Grand Haven market. The property's robust construction, ample space, and strategic location make it an attractive investment for discerning buyers seeking long-term, passive income generation. The building is well-suited for its current manufacturing occupant and offers potential for future expansion.

Highlights

  • Single-tenant, absolute NNN leased industrial manufacturing facility.
  • 59,559 SF building on a 14.47-acre lot in Grand Haven, MI.
  • High-bay concrete & steel construction with 5 loading docks & 6 dock-high doors; 16' ceiling height.
  • 21.6 years remaining on lease (expiring July 7, 2046) with a 3.5% annual rent increase.
  • $3,435,462 asking price; $223,305 NOI; 6.50% cap rate.

Property Details for 14170 172Nd Ave

Property type
Other industrial properties, Manufacturing properties
Square Feet
59,559 SF
Year Built
1975
Buildings
1
Lot Size (sq. ft)
630,313 SF

Location Insight

City
Grand Haven
County
Ottawa
State
Michigan
Latitude
43.0260799
Longitude
-86.2141027
14170 172Nd Ave, Grand Haven, Michigan

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
14170 172Nd Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message