135 Zavada Dr, Crystal Falls, MI 49920-1079

This 5,000-square-foot flex space industrial property in Crystal Falls, Michigan, is offered for sale at $300,000. The property, built in 1995, sits on approximately one-third of an acre, offering potential for expansion. Currently leased under a triple-net (NN) lease to a single tenant in the flooring business, the lease extends until November 30, 2027, with a tenant renewal option. The annual rent is $30,000, with the tenant responsible for all utilities and contributing $1,000 annually towards real estate taxes. The landlord handles snow plowing. The property boasts a 12-foot ceiling height and three dock-high doors. The current net operating income (NOI) is approximately $24,000, resulting in an 8% capitalization rate. This stabilized investment property is classified as Class B and presents an excellent opportunity, particularly for a 1031 exchange. The property has received a favorable appraisal. The address is 135 Zavada Dr, Crystal Falls, MI 49920.