12299 Woodbine Street

Industrial for Sale
Catylist Listing ID: 30573396
Property Subtypes: Warehouse/Distribution
Building Size (RSF): 21,847 SF
Gross Land Area: 0.58 Acres
Sale Price: $570,000
Unit Price: $26.09 PSF
Ceiling: 11 ft. / 18 ft. Clear
Docks/Doors: 1 Dock, 5 Doors
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Other
Cap Rate: 8.39%
Last Updated: 9/17/2020

Overview / Comments

The subject investment opportunity contains three (3) buildings on one site in Redford Charter Township, MI. Two (2) of the buildings on the site are self-storage. The subject opportunity offers rent upside as in-place rents are notably discounted to the market. The subject property is currently 96.34% occupied with four (4) tenants in the warehouse space, twelve (12) tenants in the storage
space, and one (1) tenant utilizing outside storage. In the past year, ownership replaced the roof and painted the exterior of the building. Located in High-Occupancy Industrial Market with 6% Vacancy – The Redford industrial market is home to nearly 6 million square feet of industrial space. The industrial storage asset is notably less than a mile from the crux of Telegraph Road and I-96. Under Contract.

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Wayne
Submarket/Township: Dearborn
Tax ID/APN: 79-036-01-0027-300
Property Located Between: Woodbine & Capitol
Total Number of Buildings: 3
Year Built: 1948
Construction/Siding: Other
Parking Type: Surface
Total Parking Spaces: 23
Sprinklers: None
X-Phase: 3
Heat Type: Natural Gas

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,031 149,584 452,731
Median Age: 37.09 36.53 37.08
Households: 5,053 57,402 173,667
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