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
Industrial

Acres

Zoned: Commercial

County: Muskegon

Parcel ID # / APN 27-648-000-0008-00

Listed By:

Jon Geenen

jon@darcommercial.com

(616) 520-5467

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