379 Lk Michigan NW Dr, Grand Rapids, MI 49534
- Flex space
- 22,292 SF
- 1.65 lot acres
Current Use by Public Records
- Aetna Engineering / Production Facility / Building Supply
- Fireboy-Xintex Inc / Production Facility / Building Supply
Property Details for 379 Lk Michigan NW Dr
- Lot size
- 1.65 lot acres
- Property type
- Flex space
- APN
- 70-10-24-400-072
- APU
- 701024400072
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Nov 8, 2022 | $2,300,000 | Grand Rapids Lake Michigan Gp LLC | Ussc Acquisition Corp | Deed | — |
| Oct 4, 2021 | — | Ussa Acquistion Corp | O 379 Lake Michigan Drive LLC | Deed | — |
| Mar 1, 2018 | — | 0379 Lake Michgan Drive Llkc | Fireboy Real Estate LLC | Warranty Deed | — |
| Jun 21, 2005 | $22,500 | Fireboy Real Estate LLC | Duimstra Corp | Warranty Deed | — |
Description
This exceptional investment opportunity presents a fee-simple ownership of a 22,292 square foot industrial building situated on a 1.65-acre lot in Grand Rapids, Michigan. The property, built in 2015, is currently 100% occupied under a 12-year absolute triple-net (NNN) lease with United Safety & Survivability Corp, a corporate guarantor, commencing November 7, 2022, and expiring November 6, 2034. The lease includes two five-year renewal options, providing long-term stability and predictable income. The tenant, a leader in specialized fire safety solutions, enjoys a strong operating history. The property boasts a 6.63% cap rate based on a net operating income (NOI) of $211,140 and an asking price of $3,184,615, translating to a price per square foot of $142.86. Annual rent increases of 2% are built into the lease, offering inflation protection. The property is a single-story building with zero landlord responsibilities, making it an attractive, low-maintenance investment. The address is 379 Lake Michigan Dr NW, Grand Rapids, MI 49534, located in Ottawa County. This is a rare opportunity to acquire a high-quality, net-leased industrial property with a strong tenant and significant upside potential.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,425,000
-
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $3,300,000
- OFFICE BUILDING
- $3,045,000
- AUTO REPAIR, GARAGE
- $2,465,000
- WAREHOUSE, STORAGE
- $2,390,000
- COMMERCIAL (GENERAL)
- $1,955,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Grand Rapids
- County
- Ottawa
- State
- Michigan
- Longitude
- -85.7942
- Latitude
- 42.9741
- CBSA code
- 24340
- CBSA name
- GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA
