1805 James P Cole BlvdFlint, MI 48503

For Sale
$1,295,000

High-Cap Rate NNN Lease, 19,800 SF

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a 19,800-square-foot industrial property located at 1805 James P Cole Blvd, Flint, MI 48503. The property, built in 1975 and extensively renovated in 2023, boasts a single tenant under a NNN lease with a credit-rated tenant. The lease commenced July 1, 2024, and has a remaining term of 4.1 years, expiring December 31, 2028. The asking price is $1,295,000, representing a compelling cap rate of 8.49% with a current NOI of $110,000. The property features two loading docks with two dock-high doors, an 18-foot ceiling height, and ample parking for 20 vehicles. Situated on a 0.75-acre lot in a heavy industrial zone, this building benefits from recent upgrades including a new roof, LED lighting, and fresh paint, both interior and exterior. Its strategic location within a larger industrial park, adjacent to the Lear plant and the Flint Buick City redevelopment project (over 300 acres of new industrial development), offers significant growth potential. The below-market rent and the property's designation as an Opportunity Zone further enhance its investment appeal. This is a single-story building with a net rentable area of 19,800 square feet, priced at $65.40 per square foot. Three rent bumps are included in the lease agreement.

Highlights

  • 8.5% cap rate, single-tenant NNN industrial property with rental upside.
  • 2023 renovation including new roof, LED lighting, dock improvements, and interior/exterior paint.
  • Located in a larger industrial park adjacent to Lear Corporation and the Flint Buick City redevelopment (300+ acres).
  • Below-market rent with 4.5 years remaining on the lease.
  • Qualified Opportunity Zone property.

Property Details for 1805 James P Cole Blvd

Property type
Other warehouses, Other industrial properties
Square Feet
19,800 SF
Year Built/Renovated
1975/2023
Buildings
1
Stories
1
Lot Size (sq. ft)
32,670 SF
Units
1

Location Insight

City
Flint
County
Genesee
State
Michigan
Latitude
43.0330554
Longitude
-83.6848236
1805 James P Cole Blvd, Flint, Michigan

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1805 James P Cole Blvd
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