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18216 Sq Ft. Commercial Building - Leased
Location: United States -> Michigan -> Lake City
Industry: Real Estate > Commercial and Residential Real Estate Brokers

Business Summary

SOLID long term investment. If you are looking for a commercial building to invest in that has an A+ renter .....this is it. The current lease is with the State of Michigan and has been in place since 1992. Built in 1997 this 18,216 sq. ft. beautiful building is very well maintained is on a great location off M-55 between Cadillac and Lake City, Michigan. The lot size is 385' X 505' (4 Acres) and there is 385' of highway frontage. Has approx. 80 parking spaces to ensure plenty of parking spots for employees and customers.

The current lease expires on March 31, 2017 and there are two five new renewal options that run through March 31, 2027. The current lease amount is $15,926.53 triple net per month and in the renewal periods the lease will be $13,346.25 per month triple net. Through the two year extesnion period there are approx. 202 months remaining. With the tenant excerising their option of extensions the gross lease should represent approx. $2,907,525.00 dollars. With the asking price of property being only $1,800,000.00 the return on investment is excellent

Asking price is $1,800,000 and may be negotiable.

Annual cash flow and financial statements available upon signing a confidentiality agreement and proof of available funds or financing .

Contact us at 231-839-6500

View this listing Number 20902945


Asking Price Range:  $1.0M - $2.5M
Gross Revenues:   $1,911,184
Cash Flow:   Seller Will Provide
Cash Flow Type:  Sellers Discretionary Cash
Seller Financing:  Not Disclosed

About The Business

Year Established:  1992
Number of Employees:  1 - 3
Relocatable:  No
Franchise:  No
Current Real Estate:  Owned
Property:  Property For Sale

About The Sale

Reason For Selling:  An estate.


View Larger Photo(s) Of Business
18216 Sq Ft. Commercial Building - Leased Photo 1 18216 Sq Ft. Commercial Building - Leased Photo 2 18216 Sq Ft. Commercial Building - Leased Photo 3

Print Listing Id: 700124448
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Also See: Franchise Opportunities > Franchise Resales > Michigan Businesses For Sale > Michigan Franchises For Sale > Michigan Business Brokers

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