135 Zavada Dr Crystal Falls, MI 49920-1079
- Warehouses
- 5,500 SF
- 0.72 lot acres
Current Use by Public Records
- Warehouses
Property Details for 135 Zavada Dr
- Lot size
- 0.72 lot acres
- Property size
- 5,500 SF
- Property type
- Warehouses
- APN
- 052-030-003-00
- APU
- 5203000300
Description
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.
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
- Crystal Falls
- County
- Iron
- State
- Michigan
- Longitude
- -88.3526
- Latitude
- 46.0986
