445 E. Van Riper Road

Industrial for Sale
Catylist Listing ID: 30520198
Property Subtypes: Free-Standing
Building Size (RSF): 138,514 SF
Gross Land Area: 16.52 Acres
Sale Price: $8,435,909 - 8,435,908
Unit Price: $60.90 PSF
Ceiling: 28 ft.
Docks/Doors: 7 Docks, 2 Doors
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Other
Cap Rate: 8.0%
Last Updated: 9/17/2020

Overview / Comments

The subject opportunity encompasses two buildings occupied by J. America located at 445 Van Riper Road, Fowlerville and 1200 Mason Court, Webberville. The two properties have varying lease expirations with weighted average lease term of about 9.48 years. J. America currently has two separate NNN lease agreements - Fowlerville & Webberville - with rental increases based on the
Consumer Price Index (CPI). The subject opportunity is priced at a 8.00% cap rate, equating to $60.90 per square foot. The leases also include annual escalations, creating yearly yield enhancement. Both assets are located off of the highly trafficked I-96 freeway which allows ease of access to several Midwest markets including Detroit, Ann Arbor, Toledo, Cleveland, Chicago, Windsor, and Toronto.

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Livingston
Submarket/Township: Howell/Brighton Area
Tax ID/APN: cpixtax
Property Located Between: Grand River Avenue
Highway Access: I-96
Year Built: 2000
Construction/Siding: Other
Total Parking Spaces: 284
Sprinklers: None
Amps: 5,800
Volts: 480
Heat Type: Other
Heat Source: Other
Air Conditioning: Other

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,149 8,006 12,556
Median Age: 35.47 35.12 37.1
Households: 1,630 2,991 4,705
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