$250,000
$250,000
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3617 GEMBRIT Circle Kalamazoo, MI 49001
6,840 SqFt
Key Details
Sold Price $250,000
Property Type Commercial
Sub Type Real Estate Only
Listing Status Sold
Purchase Type For Sale
Square Footage 6,840 sqft
Price per Sqft $36
MLS Listing ID 20240009184
Year Built 1980
Annual Tax Amount $9,825
Lot Size 1.410 Acres
Property Description
ONLINE AUCTION - March 13 to 15th - NO RESERVE, starting bid only $250k
This building is in an excellent location, right off the expressway, near the airport, in a fully occupied industrial park. Located on 1.4 acres with large fenced parking lot.
The lot is currently leased to the neighbor at $2000 / month, with the tenant responsible for lot maintenance and fence.
The building is two levels at about 6,840 sq ft total, and is currently vacant. It does need some work but could easily be leased for $2000-$3000 / month, bring the CAP rate on this property to 14%+, while diversifying risk with two tenants.
The property is also 'green zoned' for cannabis cultivation and processing. It is a great opportunity for somebody who would like to collect the rental income while getting their business going.
Register to bid at opencre.io - The starting bid is $250,000 with no reserve
Location
State MI
County Kalamazoo
Area Kalamazoo
Zoning Heavy Industrial
Interior
Heating Forced Air
Exterior
Exterior Feature Fenced
Utilities Available Circuit Breakers
Roof Type Asphalt
Building
Foundation Slab
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Structure Type Brick
Schools
School District Comstock
Others
Acceptable Financing Cash, Auction
Listing Terms Cash, Auction
Special Listing Condition Entry Only (MLS Entry Only)
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Bought with Bricks + Mortar Group