55905 92Nd Ave Dowagiac, MI 49047
- Manufacturing properties
- 58,248 SF
- 6.30 lot acres
Current Use by Public Records
- Securit Metal Products / Manufacturer / Professional Services
Property Details for 55905 92Nd Ave
- Lot size
- 6.30 lot acres
- Property size
- 58,248 SF
- Zone code
- I-1
- Property type
- Manufacturing properties
- APN
- 80-10-032-004-01
- APU
- 801003200401
Description
This exceptional investment opportunity presents a 63,148-square-foot industrial property located at 55905 92nd Ave, Dowagiac, MI 49047. The property consists of two, single-story buildings on a 7.3-acre lot, built in 1955 and zoned for industrial use. Currently operating under a triple-net (NNN) lease with a single tenant, the lease has a remaining term of 7.1 years, expiring January 1, 2032, with options for an additional 10 years. The property boasts a strong 8.00% cap rate and a gross potential rent exceeding $175,000 annually, with built-in 2% annual rent increases. The sale includes parcels 80-10-032-004-00, 80-10-032-004-60, 80-10-032-004-92, and 80-10-032-004-95, acquired on December 17, 2007, and also includes 52366 M-51 N. The property is comprised of three units and features a total net rentable area of 63,148 square feet. The seller will cooperate with 1031 tax-deferred exchanges. This is a rare opportunity to acquire a well-located, income-producing industrial asset with significant long-term potential in Van Buren County, Michigan. The occupancy date for the current lease is January 10, 2024.
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
- Dowagiac
- County
- Van Buren
- State
- Michigan
- Longitude
- -86.0881
- Latitude
- 42.0844
- CBSA code
- 28020
- CBSA name
- KALAMAZOO-PORTAGE, MI METROPOLITAN STATISTICAL AREA
