33380-33386 Groesbeck Hwy Fraser, MI 48026
- Warehouses
- 14,035 SF
- 1.51 lot acres
Current Use by Public Records
- Warehouses
Property Details for 33380-33386 Groesbeck Hwy
- Year built
- 1960
- Lot size
- 1.51 lot acres
- Property size
- 14,035 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents a 14,035-square-foot multi-tenant industrial building located at 33380-33386 Groesbeck Hwy, Fraser, MI 48026. The property, built in 1960 and renovated in 1995, boasts a desirable 2.85% cap rate and a strong net operating income (NOI) of $36,993. The building comprises four separately metered units (7,200 SF, 1,160 SF, 2,436 SF, and 2,944 SF), offering flexibility and diverse income streams. Ceiling heights range from 14 to 18 feet, accommodating various industrial needs. The property features four overhead doors (one 10' x 12', three 12' x 14'), ample parking (20 spaces), and sits on a 1.51-acre lot. The largest unit includes 1,160 square feet of office space, while the remaining units offer approximately 15% office space. Currently, three month-to-month tenants occupy the building, presenting potential for increased rental income. The property is zoned for light industrial use and offers a compelling return on investment. This well-maintained building provides a solid foundation for a diverse range of industrial businesses. The asking price is $1,300,000, translating to $92.63 per square foot.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fraser
- County
- Macomb
- State
- Michigan
- Longitude
- -82.9315
- Latitude
- 42.5427
