3520 Rennie School Rd
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3520 Rennie School Rd
12,000 SF 100% Leased Industrial Building Traverse City, MI 49685 £1,058,953 (£88/SF) 7.90% Net Initial Yield
Investment Highlights
- 300' of frontage on Rennie School Road
- Good signage and parking opportunities.
Executive Summary
Fully leased Investment property with 7.9% cap rate based on projected income. 3 industrial buildings with 300' of frontage on Rennie School Road. 1.7 acre parcel with outdoor storage, good signage and good parking. Building A is 5,520 SF with 7-8 offices, shop space with loft storage, and 3 overhead doors (two at grade level and one with a truck loading dock). Building B is 3,280 SF warehouse with a paint booth. Building C is 3,200 SF insulated warehouse, divided into two sections with 3 overhead doors. All spaces are leased with terms ranging from 1-4 years.
Property Facts
| Price | £1,058,953 | Lot Size | 1.73 AC |
| Price Per SF | £88 | Rentable Building Area | 12,000 SF |
| Sale Type | Investment | Number of Floors | 1 |
| Net Initial Yield | 7.90% | Year Built | 1995 |
| Property Type | Industrial | No. Dock-High Doors/Loading | 1 |
| Property Subtype | Warehouse | Level Access Doors | 5 |
| Building Class | C |
| Price | £1,058,953 |
| Price Per SF | £88 |
| Sale Type | Investment |
| Net Initial Yield | 7.90% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 1.73 AC |
| Rentable Building Area | 12,000 SF |
| Number of Floors | 1 |
| Year Built | 1995 |
| No. Dock-High Doors/Loading | 1 |
| Level Access Doors | 5 |
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PROPERTY TAXES
| Parcel Number | 05-033-007-40 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £255,953 |
PROPERTY TAXES
Parcel Number
05-033-007-40
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£255,953
zoning
| Zoning Code | CM (Commercial/Manufacturing District) |
| CM (Commercial/Manufacturing District) |
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Daniel Stiebel -
Coldwell Banker Schmidt Realtors
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3520 Rennie School Rd
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