Building Details

Year Built 1964

Building Size 87,340 SF

Tenancy Single

Listing Agency: Colliers - Grand Rapids

Listed By: Matt Abraham · License #6502396785 Show Phone

Source: Carwm.resimplifi

Added: Oct 6 Changed: Oct 13 Last Checked: Oct 13 at 2:26AM

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Investment Insights

Based on property information with market context.

The 87,340-square-foot industrial property combines manufacturing and warehouse areas with dock and grade-level loading. Built in 1964, the facility sits on 4.34 acres and is zoned I-2. The property is fully leased to one tenant through a 10-year lease, with annual rent increases and a 6.33% cap rate. It is offered as a sale-leaseback investment.

In Grandville’s industrial corridor, the site has access to Division Avenue, I-196, US-131, and M-6. The property’s location and loading configuration are supported by a mix of manufacturing and warehouse space.

Key Highlights

• 87,340‑square‑foot industrial facility on 4.34 acres
• Manufacturing and warehouse areas with dock and grade‑level loading
• Fully leased to a single tenant under a 10‑year lease

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$408,431

Cap Rate

9.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$8,168,620 $8.2M

Cap Rate 7%

$5,834,729 $5.8M

Cap Rate 9%

$4,538,122 $4.5M

Market Conditions

NOI Build-Up for 87,340 SF

Gross rent

$600.9K $6.88/SF

− Vacancy

−$17.4K −$0.20/SF

EGI

$583.5K $6.68/SF

− OpEx

−$175.0K −$2.00/SF

NOI

$408.4K $4.68/SF

Area

Kent County, MI

Vacancy

2.90%

Lease Rate

$6.88 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$8,168,620

Cap Rate 7%

$5,834,729

Cap Rate 9%

$4,538,122

Alternative Uses

Best Use

Warehouse

$7.09M

$6.20M – $8.27M (±1% cap)

NOI $495,952 @ 7.0% cap · market cap 11.02%

Second Best

Industrial

$5.83M

$5.11M – $6.81M (±1% cap)

NOI $408,431 @ 7.0% cap · market cap 9.08%

Theoretical Best

Office A

$15.62M

$13.67M – $18.22M (±1% cap)

NOI $1,093,491 @ 7.0% cap · market cap 24.30%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Manufacturing properties

Suggested Use

Top Pick Dental Office Restaurant Pharmacy Gym & Fitness Center Spa & Massage Center Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Single-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

675

Businesses Nearby

Explore this area Business Placement

Demographics for 49418, MI

30,520

Population

12,801

Households

2.4

Avg Household Size

38

Median Age

40%

College-Educated

96%

High-School Grad

19.0 sq mi

ZIP Area

1,606

Density / Sq Mi

$83,485

Median Household Income

$48,260

Median Earnings

$1,218

Median Rent

$296,300

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this manufacturing properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Manufacturing property - A single tenant occupies the entire facility under a 10-year lease.

Where is this manufacturing property located?

The property is located at 4210 Ferry St SW Grandville, MI.

What is the asking price?

The asking price for this property is $4,500,000.

What are key features of this property?

This property features: 87,340‑square‑foot industrial facility on 4.34 acres; Manufacturing and warehouse areas with dock and grade‑level loading; Fully leased to a single tenant under a 10‑year lease