24601 Capital BlvdClinton Township, MI 48036

Property Details for 24601 Capital Blvd

Year built

1995

Lot size

3.84 AC

Property size (Sq ft)

80,160 SF

Zone code

I-1

Property type

Industrial properties

Property subtype

Flex space

APN

16-11-01-276-018

APU

161101276018

Description

This fee-simple industrial property in Clinton Township, Michigan, offers a compelling investment opportunity. The 80,160-square-foot building, constructed in 1995 and 2003, sits on a 3.836-acre lot and is zoned I-1 Light Industrial. Currently 100% occupied by Plast-O-Foam, a Tier I automotive supplier, under a Net Lease (NNN) agreement, the property boasts a strong 12.6-year remaining lease term with two five-year options. The lease includes annual 2% rent bumps, ensuring consistent income growth. The building features two stories, eight loading docks, four dock-high doors, and a 30-foot ceiling height. Plast-O-Foam, a long-term tenant since 2003, operates this location as its corporate headquarters, highlighting the property's mission-critical nature. The property enjoys a highly desirable location just off I-94, benefiting from significant daily traffic volume exceeding 78,000 vehicles. The current Net Operating Income (NOI) stands at $509,583, representing an attractive below-market rent. This passive investment opportunity presents minimal landlord responsibilities, making it an ideal addition to any portfolio. The property's strong tenant, long-term lease, and strategic location combine to create a secure and profitable investment. The property's APN is 16-11-01-276-018.

• Alternative Use

  Use

  Valuation

  Residential

  $19,083,154

  Hospitality

  $17,480,066

  Educational

  $14,543,210

  Medical

  $15,043,373

  Retail

  $22,622,770

Location Insight

City

Clinton Township

County

Macomb

State

Michigan

Latitude

42.6234

Longitude

-82.8587

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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