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$698,000
Est. payment /mo
5.64 Acres Lot
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Key Details
Property Type Vacant Land
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 58050054268
Lot Size 5.640 Acres
Acres 5.64
Property Description
Sometimes the right opportunity just presents itself at exactly the right time. Discover this fantastic proposed Self Storage development in the bayside city of New Baltimore. Located on 5.65 acres, the property site plan has already been approved by city council (ready to build) and includes 4 climate controlled storage buildings with non-CC drive-ups around outside perimeters, totaling 50,120 net rentable square feet in addition to a rental office. A feasibility study, recently completed by Bob Copper of Self Storage 101, is available upon request. This is the last available industrial space in this growing community. Add it to your portfolio today. $615,473 GPI (Not Including Truck Rental, Retail Sales and other revenue services), $184,643 Expenses (30%), $430,831 NOI. Optional: Seller willing to reinvest after close of sale with partnership agreement.
Location
State MI
County Macomb
Area Area03201Newbaltimore
Interior
Fireplace No
Exterior
Utilities Available NaturalGasAvailable
View Y/N No
Building
Lot Description CityLot
Sewer Public Sewer, Sewer At Street
Water WateratStreet
New Construction No
Schools
School District Anchor Bay
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard
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Listed by Daniel Lovell of Ironstone Realty
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