1809 James P Cole Blvd Flint, MI 48503-1738

Property Details for 1809 James P Cole Blvd

Lot size

1.79 lot acres

Property size

14,072 SF

Property type

Industrial properties

APN

41-06-452-020

APU

4106452020

Description

This exceptional 17,004-square-foot industrial property in Flint, Michigan, presents a compelling investment opportunity. Located at 1809 James P Cole Blvd, this single-story, Class B building boasts a flexible layout suitable for manufacturing, research & development, or flex space uses. Built in 1995 and renovated in 2013, the property features three units, each with 25 parking spaces, currently operating at 40% occupancy. The asking price is $849,000, representing a price per square foot of $49.93 and a current cap rate of 4.12%. However, a pro-forma analysis projects a significantly higher cap rate of 14.02% upon full occupancy, indicating substantial upside potential. The current net operating income (NOI) is $34,978, with a pro-forma NOI of $119,028. Tenancy is multi-tenant with three corporate tenants, one of which is a long-term, strong credit franchisee, secured by a corporate guarantee. The property is zoned for heavy industrial use and offers rent bump potential. This prime location along the river offers scenic views and significant potential for expansion or redevelopment as a lab, R&D facility, or small warehouse. The property's history as a former Dupont Corporation headquarters speaks to its high-quality construction and desirable features. This is an ideal opportunity for an owner-occupant needing approximately 7,000 to 10,000 square feet, or an investor seeking a high-return property with significant upside.