24650 Sherwood AveCenter Line, MI 48015

For Sale
$1,950,000

14,776 SF Flex/Warehouse, 7% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a 14,776-square-foot flex/warehouse property located at 24650 Sherwood Ave, Center Line, MI 48015. The property, built in 1998, sits on a 1.6-acre lot and boasts a 100% occupancy rate with a diverse tenant mix. The building features two dock-high doors, a 16-foot ceiling height, and ample parking for 100 vehicles. Zoned M-1 Heavy Industrial, this single-story structure offers significant potential for continued growth and strong cash flow. The asking price is $1,950,000, representing a compelling 7.00% capitalization rate. The property is classified as Class C, with a modified lease type and multi-tenancy. Conveniently located just south of 10 Mile Road on Sherwood Avenue in Macomb County, this well-maintained building presents a rare opportunity for investors seeking a stabilized industrial asset with excellent potential. The property's net rentable square footage is 14,776 square feet, with a price per square foot of $155.66. The parcel ID is 01-13-28-202-006. This is a turnkey investment ready for immediate income generation.

Highlights

  • Exceptional investment opportunity in Center Line, MI.
  • 14,776 SF flex/warehouse with 100% occupancy.
  • Well-maintained building with a diverse tenant mix.
  • Ample parking for 100 vehicles.
  • 1.6-acre lot, M-1 zoning.
  • $1,950,000 asking price, 7.00% cap rate.

Property Details for 24650 Sherwood Ave

Property type
Other warehouses, Other industrial properties
Square Feet
14,776 SF
Class
C
Year Built
1998
Buildings
1
Stories
1
Lot Size (sq. ft)
69,696 SF

Location Insight

City
Center Line
County
Macomb
State
Michigan
Latitude
42.474301646893
Longitude
-83.03639619601
24650 Sherwood Ave, Center Line, Michigan

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24650 Sherwood Ave
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