52366 M-51, Dowagiac, MI 49047 (MLS# 24058947)
52366 M-51, Dowagiac, MI 49047
$1,888,000
Property Type:
Commercial Sale
Square Footage:
63,148
Lot Size (sq. ft.):
317,988
Status:
Active
Current Price:
$1,888,000
List Date:
11/12/2024
Last Modified:
3/18/2025
Description
Investment Opportunity with Triple Net Industrial Lease! Gross Potential rent of over 175K with annual 2 % increases. Cap rate over 8%. Owner will cooperate with tax deferred exchanges! 6 years left on current lease with options for 10 more years. 63,000 s.f .total with a total of 7.1 acres
More Information MLS# 24058947
Location Property Info
County: Van Buren
Street #: 52366
Street Name: M-51
State: MI
Zip Code: 49047
Area: Greater Kalamazoo - K
OfficeContract Info
Status: Active
Current Price: $1,888,000
List Price: $1,888,000
Listing Date: 2024-11-12
General Property Info
New Construction: No
Lot Measurement: Acres
Lot Acres: 7.3
Lot Square Footage: 317988
Lot Dimensions: Irregular
Year Built: 1955
Road Frontage: 542
Mineral Rights: Unknown
Year Remodeled: 2008
Total # Units: 2
# Fin Bldg Lvls: 1
Total # Bldgs: 3
Total SqFt: 63148
Property Use Type: Investment
Full Baths: 3
Waterfront: No
School District: Decatur
Tax Info
Tax ID #: 80-10-032-004-01
Taxable Value: 630600
SEV: 630600
For Tax Year: 2023
Annual Property Tax: 26804
Tax Year: 2023
Spec Assessment & Type: None known
Zoning: industrial
Remarks Misc
Directions: M-51 Highway to 92nd st. property is at 56th St & 92nd St
Additional Details
# Loading Docks/Well: 4
Ceiling Height: 18
Property Features
Property Use: Business; Investment; Net Leased (nnn)
Uses: Distribution; Manufacturing
Business Includes: Real Estate
Construction Type: Frame/Wood
Exterior Material: Metal Siding
Roofing: Metal
Additional Features: Multi User Facility
Tenant Pays All: Electric; Gas; Trash
Sewer: Septic Tank
Water: Well
Utilities Attached: Electricity Connected; Natural Gas Connected; Phone Connected
Util Avail at St: Phone Available
Heat Source: Propane
Heat Type: Forced Air
Driveway: Paved
Street Type: Paved; Public
Purchase Terms Avail: Cash; Conventional
Sale Conditions: None
Send to Econ Dev Org: MEDC; SWMI First, Region 5
Listing Office: O'Brien Real Estate
Listing Agent: Pat O'Brien
Last Updated: March - 18 - 2025
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