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Warehouse

Neptune Drive Industrial - 9.20% Year 1 Cash on Cash Return | SCP Distributors Anchored

8213-8233 Neptune Dr, Kalamazoo, MI 49009

Listing Price: $3,628,000

Cap Rate
7.67%
Gross SF
53,631
Price/Gross SF
$67.65
Lot Size
5.50 acres
Year Built
2003
Rentable SF
53,631

Investment Overview

--Industrial Property in Excellent Condition-- --New AC Units Installed --Newly Replaced Furnace for 40% of Space --Located Just Off of Highway 131 – A 10 Minute Drive to Downtown Kalamazoo --Large Lot of Over 5 Acres --Strong Tenants-- --Polymershapes is the premier distributor of plastic sheet, rod, tube, film, and associated products, with over 70 years of industry-leading heritage --Matrix Basement Systems is ranked as the #1 basement finishing company in America --VanDam & Krusinga has been serving west Michigan since 1962 for all restoration and reconstruction needs --Pride of Ownership Property in Kalamazoo, MI-- --Dense Infill Area (±265,000 Residents in Kalamazoo County) With Strong Average Household Income of $82,613 Within 5 Miles --Located Less Then 10 Minutes to Downtown Kalamazoo MI Via Highway 131 -Several new and upcoming developments in Kalamazoo include the new Home2Suites by Hilton, Arcadia Flats Student Housing (341 Beds), Charles & Lynn Zhang Portage Community Senior Center, Hilton Garden Inn, Kalamazoo County Justice Facility, historic Gibson Hotel by Hard Rock Hotels, Advia Credit Union headquarters, Bronson Outpatient Surgery Center, Revel Creek Assisted Living, Redwood Texas Township 157-Unit Apartments, 400 Rose 136-Unit Apartments, The Creamery 48-Unit Apartments and many more. -Kalamazoo is home to major players in the pharmaceutical and medical science industries. The Stryker Corporation, headquartered in Kalamazoo, is an industry leader in the field of medical technologies, with 40,000 employees and an annual revenue of $15 billion. -The economy benefits from a diverse range of industries such as breweries, distilleries, and manufacturing. The Kalamazoo/ Portage market boasts major employers including Pfizer, Bronson and Borgess Medical Group, Dana Corporation, State Farm and PNC Bank. Kalamazoo is a brewery powerhouse and has also built a reputation as a major player in the American craft beer movement. Kalamazoo is also known for its importance in the world of music, home to the Gibson Guitar Corporation.

Investment Highlights

  • SCP Distributors – a Subsidiary of PoolCorp (NYSE : POOL) is a Well-Established Industrial Tenant with Locations Both Nationally and Internationally
  • Offered at a 7.67% Cap | Low Price Per SF of Just $67.65 (Well Below Replacement Value)
  • Favorable Cash on Cash Return of 9.20% in Year One (35% Down) | Total Return of 13.17% in Year One - Please See Financial Analysis Page for More Information

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Warehouse

Neptune Drive Industrial - 9.20% Year 1 Cash on Cash Return | SCP Distributors Anchored

Listing Price: $3,628,000

Cap Rate
7.67%
Gross SF
53,631
Price/Gross SF
$67.65
Lot Size
5.50 acres
Year Built
2003
Rentable SF
53,631

Investment Highlights

  • SCP Distributors – a Subsidiary of PoolCorp (NYSE : POOL) is a Well-Established Industrial Tenant with Locations Both Nationally and Internationally
  • Offered at a 7.67% Cap | Low Price Per SF of Just $67.65 (Well Below Replacement Value)
  • Favorable Cash on Cash Return of 9.20% in Year One (35% Down) | Total Return of 13.17% in Year One - Please See Financial Analysis Page for More Information

Investment Overview

--Industrial Property in Excellent Condition-- --New AC Units Installed --Newly Replaced Furnace for 40% of Space --Located Just Off of Highway 131 – A 10 Minute Drive to Downtown Kalamazoo --Large Lot of Over 5 Acres --Strong Tenants-- --Polymershapes is the premier distributor of plastic sheet, rod, tube, film, and associated products, with over 70 years of industry-leading heritage --Matrix Basement Systems is ranked as the #1 basement finishing company in America --VanDam & Krusinga has been serving west Michigan since 1962 for all restoration and reconstruction needs --Pride of Ownership Property in Kalamazoo, MI-- --Dense Infill Area (±265,000 Residents in Kalamazoo County) With Strong Average Household Income of $82,613 Within 5 Miles --Located Less Then 10 Minutes to Downtown Kalamazoo MI Via Highway 131 -Several new and upcoming developments in Kalamazoo include the new Home2Suites by Hilton, Arcadia Flats Student Housing (341 Beds), Charles & Lynn Zhang Portage Community Senior Center, Hilton Garden Inn, Kalamazoo County Justice Facility, historic Gibson Hotel by Hard Rock Hotels, Advia Credit Union headquarters, Bronson Outpatient Surgery Center, Revel Creek Assisted Living, Redwood Texas Township 157-Unit Apartments, 400 Rose 136-Unit Apartments, The Creamery 48-Unit Apartments and many more. -Kalamazoo is home to major players in the pharmaceutical and medical science industries. The Stryker Corporation, headquartered in Kalamazoo, is an industry leader in the field of medical technologies, with 40,000 employees and an annual revenue of $15 billion. -The economy benefits from a diverse range of industries such as breweries, distilleries, and manufacturing. The Kalamazoo/ Portage market boasts major employers including Pfizer, Bronson and Borgess Medical Group, Dana Corporation, State Farm and PNC Bank. Kalamazoo is a brewery powerhouse and has also built a reputation as a major player in the American craft beer movement. Kalamazoo is also known for its importance in the world of music, home to the Gibson Guitar Corporation.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

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