1349 Grand Oaks Dr Howell, MI 48843-8579

Property Details for 1349 Grand Oaks Dr

Lot size

1.53 lot acres

Property size

13,644 SF

Zone code

IND

Property type

Industrial properties

APN

11-08-101-008

APU

1108101008

Description

This fee-simple industrial warehouse, totaling 14,314 square feet, presents a compelling investment opportunity. Located at 1349 Grand Oaks Dr, Howell, MI 48843, on a 1.52-acre lot, the property boasts a 100% occupancy rate under a Net Lease with Bottcher America, a globally recognized leader in printing materials. The current lease, commencing August 1, 2022, and expiring October 31, 2029, has a remaining term of approximately 4.9 years, featuring 3% annual rental escalations. The building, constructed in 1997 and renovated in 2022, includes two loading docks and a 14-foot ceiling height. The property's asking price is $1,936,832, representing a price per square foot of $135.31 and a 7.25% cap rate with a NOI of $140,420. The lease is corporately guaranteed and includes two and three-year renewal options. Zoned IND, this strategically located facility benefits from proximity to I-96, with over 54,000 vehicles daily, and is within easy reach of Ann Arbor, Lansing, and Detroit. The tenant has invested nearly $200,000 in building improvements. This property is ideal for investors seeking a stable, long-term net lease investment with significant upside potential. The property's location is surrounded by major national retailers, including Walmart, Home Depot, Meijer, Lowe's, and Harbor Freight.

Location Insight

City

Howell

County

Livingston

State

Michigan

Longitude

-83.8844

Latitude

42.5816

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments