620 Ellis Road, Norton Shores, MI 49441
Sale Leaseback opportunity in Norton Shores, MI
Asking Price $4,615,000
Property Description
This sale leaseback opportunity provides an investor with the ability to purchase a well maintained 43,600 SF industrial building fully occupied by AeroVision International under a 10 year lease. AeroVision and their team of industry veterans have a successful track record within the aerospace industry supplying engine components and aircraft components generating annual sales in excess of $30 Million. At close, the Seller will sign a brand new ten (10) year net lease at an initial rental rate $6.19 per square foot which represents annual rent of $270,000.00. The lease includes generous 3% annual rent increases providing strong inflation protection to an investor with an overall blended cap rate of 6.71% during the initial 10 year term. This truly is a rare opportunity to purchase a gorgeous industrial building with a strong Tenant under a net lease at only $105.85 per square foot.
Property Highlights
- 4 Loading docks
- 4 Overhead doors
- 36,509 SF Warehouse
- Pylon Signage