5730 Eagle SE Dr Grand Rapids, MI 49512-2057

Property Details for 5730 Eagle SE Dr

Year built

1984

Lot size

3.79 lot acres

Property size

23,500 SF

Zone code

I

Property type

Commercial real estate

APN

41-19-17-365-003

APU

411917365003

Description

This exceptional investment opportunity presents a 23,500-square-foot industrial building situated on a 3.78-acre lot in Grand Rapids, Michigan's desirable Airport Area submarket. The property, built in 1984 and renovated in 1991, boasts a single-story design with a 22-foot ceiling height. It features one drive-in door and two dock doors, along with approximately 11,500 square feet of office space. The building is currently 100% occupied under a net lease (NN+) agreement with a credit-rated tenant, General Dynamics (NYSE: GD), extending through January 2030 (5.5 years remaining). The property offers a compelling 7.17% cap rate and a net operating income (NOI) of $164,888, with an asking price of $2,300,000 ($97.87 per square foot). Conveniently located less than one mile from the I-96/36th Street highway interchange, this location provides easy access to the entire West Michigan area. The property includes a new exterior parking lot and possesses significant expansion potential, allowing for an additional 40,000 square feet. The property is zoned for traditional industrial use and has a Kent County APN of 411917365003. LED lighting is installed throughout. This is a rare opportunity to acquire a high-quality, net-leased industrial property with a strong tenant and significant upside potential.

Location Insight

City

Grand Rapids

County

Kent

State

Michigan

Longitude

-85.5243

Latitude

42.9009

CBSA code

24340

CBSA name

GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments