Gerber Collision & Glass | 3614 Corunna Rd
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Gerber Collision & Glass 3614 Corunna Rd
20,399 SF Retail Building Flint, MI 48532 £543,020 (£27/SF) 19.02% Net Initial Yield
Investment Highlights
- 19.02% Cap Rate | $132,000 NOI
- New Roof in 2020 | Transferable Warranty
- High Yield Investment for Landlord or Future Automotive Owner/User
- Exterior Fencing Around Parking Area | Newly Renovated Office Space
Executive Summary
Legacy Commercial Group is pleased to exclusively offer the high yield investment sale of Gerber Collision and Glass in Flint, MI. The tenant has recently executed a new NN+ lease extension including 3% annual increase for each (1) year option. Minimal Landlord responsibilities include roof, structure and parking lot. Major capital expenditures completed since 2020 include a brand new roof replacement, exterior fence, and remodeled offices. Contact Legacy Commercial Group for further details.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
£103,283
|
£4.69
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | £103,283 |
| Annual Per SF | £4.69 |
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
20,399 SF
Building Class
C
Year Built/Renovated
1965/2020
Price
£543,020
Price Per SF
£27
Net Initial Yield
19.02%
NOI
£103,283
Tenancy
Single
Number of Floors
1
Loading Docks
1 Exterior
Building FAR
0.41
Lot Size
1.13 AC
Zoning
CC
Parking
33 Spaces (1.62 Spaces per 1,000 SF Leased)
Frontage
444 ft on Corunna Rd
Walk Score ®
Very Walkable (78)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 40-15-490-014 | Improvements Assessment | £0 (2024) |
| Land Assessment | £0 (2024) | Total Assessment | £248,506 (2024) |
PROPERTY TAXES
Parcel Number
40-15-490-014
Land Assessment
£0 (2024)
Improvements Assessment
£0 (2024)
Total Assessment
£248,506 (2024)
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Gerber Collision & Glass | 3614 Corunna Rd
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