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Property profile & analytics

379 Lk Michigan NW Dr Grand Rapids, MI 49534

  • Flex space
  • 22,292 SF
  • 1.65 lot acres
OFF-MARKET
Last Sale
Nov 08, 2022
$2,300,000
Value Estimations
$1,415,000
Show details
Cap Rate Potential
Location Intelligence
Property ID
US43-2648991
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

Current Use by Public Records

  • Aetna Engineering / Fire Protection Equipment Supplier / Engineer
  • Fireboy-Xintex Inc / Fire Protection Equipment Supplier

Property Details for 379 Lk Michigan NW Dr

Lot size
1.65 lot acres
Property size
22,292 SF
Property type
Flex space
APN
70-10-24-400-072
APU
701024400072

Description

This exceptional investment opportunity presents a fee-simple ownership of a 22,292 square foot industrial building situated on a 1.65-acre lot in Grand Rapids, Michigan. The property, built in 2015, is currently 100% occupied under a 12-year absolute triple-net (NNN) lease with United Safety & Survivability Corp, a corporate guarantor, commencing November 7, 2022, and expiring November 6, 2034. The lease includes two five-year renewal options, providing long-term stability and predictable income. The tenant, a leader in specialized fire safety solutions, enjoys a strong operating history. The property boasts a 6.63% cap rate based on a net operating income (NOI) of $211,140 and an asking price of $3,184,615, translating to a price per square foot of $142.86. Annual rent increases of 2% are built into the lease, offering inflation protection. The property is a single-story building with zero landlord responsibilities, making it an attractive, low-maintenance investment. The address is 379 Lake Michigan Dr NW, Grand Rapids, MI 49534, located in Ottawa County. This is a rare opportunity to acquire a high-quality, net-leased industrial property with a strong tenant and significant upside potential.


Value Estimations

based on Realmo’s proprietary methodology
  • AI approach

    Method
    Estimation
    Statistic approach
    $1,425,000
  • Comparable approach

    Method
    Estimation
    Statistic Estimate
    $1,181,000
    Market price range: $506k - $1.37M
    AI Estimate
    $1,181,000
    Market price range: $506k - $1.37M

Get a detailed, property-specific valuation — fast and free


Location Insight

  • Map
  • Local Demand
City
Grand Rapids
County
Ottawa
State
Michigan
Longitude
-85.7942
Latitude
42.9741
CBSA code
24340
CBSA name
GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$21,822
$0.00
$0.00
$625,800
-
$0.00
$0.00
$1,251,600
More about this property
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