Net Leased Industrial
For Sale
Contact for pricing
1961 Base Ave, Springfield, MI 49037
Five-year net lease industrial warehouse investment opportunity.
Property Size112,500 SF
Price / SF$51.11
Days on Market1040
Property Features for 1961 Base Ave
General Information
Standard status
Active
Size
112,500 SF
Property subtype
Industrial
Zoning
Industrial
Occupancy
100%
Lease Type
NNN
Investment Type
Institutional
Net Operating Income
$393,000
Building Details
Stories
4
Tenancy
Single
Listing Agency:
Transwestern Detroit
Listed By:
Charles Howard · License #MI 6506044836
(248) 440-1447
Source:
Crexi
Added: Nov 1, 2023
Changed: Aug 8
Last Checked: Sep 3 at 8:48AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Transwestern Detroit
Investment Insights
Based on property information with market context.
This industrial warehouse investment opportunity features a five-year net lease. The property is occupied by Iron Mountain Incorporated (NYSE: IRM), a global leader in storage and information management services. Iron Mountain has been a strategic partner for over 70 years, caring for information and assets and is trusted by more than 225,000 organizations around the world, including 95% of the Fortune 1000. The facility is located in Springfield Twp., (Battle Creek), MI in Calhoun Counter of Southwest Lower Michigan. Situated off of I-94 and near I-69, the site is positioned to receive client storage from Detroit, Lansing, Grand Rapids, Kalamazoo, and Battle Creek. Iron Mountain has occupied the premises for 20 years and recently signed its fifth, five-year lease extension. Iron Mountain purchased another document storage company who occupied the building since 1989. The property features a five-year net lease with three percent annual rent increases and six, 5-year options at market rates. Occupancy is estimated at 90%. The building, dating back to the Cold War era, provides a secure storage space. The functional building includes ceiling heights of 13’-20’ and four massive 1600-amp 600-volt circuit breakers. The property size is 112500 square feet.
Key Highlights
- Five (5) year net lease with Iron Mountain Incorporated (NYSE: IRM).
- Tenant is a global leader in storage and information management services, trusted by 95% of the Fortune 1000.
- Perfectly situated off of I‑94 and near I‑69 to receive client storage from multiple major cities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49037, MI
21,427
Population
9,971
Households
2.1
Avg Household Size
37
Median Age
12%
College-Educated
88%
High-School Grad
19.3 sq mi
ZIP Area
1,110
Density / Sq Mi
$42,598
Median Household Income
$32,024
Median Earnings
$843
Median Rent
$90,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- Iron Mountain — 1961 Base Ave, Springfield, MI 49037
- West Dickman Road Self Storage — 3950 W Dickman Rd, Springfield, MI 49037
Frequently Asked Questions
What type of property is this?
Warehouse - Five-year net lease industrial warehouse investment opportunity.
Where is this warehouse located?
The property is located at 1961 Base Ave Springfield, MI.
What is the asking price?
The asking price for this property is $5,750,000.
What are key features of this property?
This property features: Five (5) year net lease with Iron Mountain Incorporated (NYSE: IRM).; Tenant is a global leader in storage and information management services, trusted by 95% of the Fortune 1000.; Perfectly situated off of I‑94 and near I‑69 to receive client storage from multiple major cities.
