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49260 Van Dyke Ave
4,452 SF Vacant Industrial Building Shelby Township, MI 48317 $1,400,000 ($314/SF)
Investment Highlights
- One-of-a-kind opportunity to acquire Metropolitan Equipment, a well-known premier truck and construction equipment rental service.
- In business since 1970, this offering has the longest-standing Penske truck rental facility, an on-site oil pit, and a rare propane filling station.
- 4,400-SF building comprising a retail showroom, storefront, warehouse, indoor and outdoor storage areas, and an adjacent single-family house.
- Located off Van Dyke Avenue, where many world-leading automotive and manufacturing corporations like General Motors, Ford, and Chrysler are housed.
Executive Summary
This is a confidential sale. Do not contact anyone besides the contact on file.
An agreement has been made for a sale of ALL of the equipment, trailers, and and assets. The Land, 4,452 Sq Foot Building, and the adjacent House both On Van Dyke are now for sale without the equipment. The Company OWNED Propane Tank, Propane Filling Station, as long as the OLDEST Penske Truck Rental Agency In the United States (Gross $250K In Truck Rentals), both will stay with the building.
The real estate consists of a total of 1.12 acres and a half block of frontage on one of the busiest parts of Van Dyke Avenue in Macomb County, with an average annual daily traffic (AADT) of 14,689 cars per day. The building is broken down into a front retail section of 1,700 square feet, a repair section of 2,700 square feet, and a mezzanine/storage area of 1,000 square feet.
Many upgrades have been made to the property: the front office section had all windows and doors replaced, a new stone and brick front façade was completed in 2018, a new metal roof covers the entire section, and a vaulted side entrance was done in the same year. The retail section has air conditioning, and a new furnace was installed in 2018. The building has front and side glass entrance doors for easy customer flow.
The repair section of the building has a total of three total bays: two high-door bays and one low-door bay. The ceilings in the high bay door areas are 19 feet tall, with powered garage door openers. Both bays have hydraulic automotive lifts, and one has a 23-foot-long oil pit for working on commercial trucks that are too heavy to lift. The lighting mixes LED fixtures, metal halide, and eight skylights. The building has 3-phase power and overhead radiant heat powered by natural gas. The small bay has a non-powered roll-up door and a mezzanine overhead, allowing storage of an additional 1,000 square feet.
Unlike many businesses that rent their propane tank and filling station, 49260 Van Dyke Avenue has a 2,000-gallon tank and two-section filling station outright that allows some of the cheapest and most profitable propane sales in the area. Most companies rent their set up, being forced only to buy their gas to resell from the company that provides their equipment. Since this site has everything outright, the new owner can shop for bulk delivery, allowing the new owner to save close to 50% of what bulk propane delivery would be if the equipment was rented.
Another impressive fact is that this site is the oldest Penske truck rental satellite facility still in business in the United States. Three other companies started before, but all have since closed their doors. Metropolitan Equipment shares a special relationship with Penske, as it is the fourth satellite facility to open with the company and has been renting Penske trucks for nearly 40 years.
An adjacent parcel next to the business is a three-bedroom house with a massive loft spanning the entire floor plan. Next to the house is a parking lot used to overflow rental trucks and equipment.
Property Facts
| Price | $1,400,000 | Lot Size | 0.77 AC |
| Price Per SF | $314 | Rentable Building Area | 4,452 SF |
| Sale Type | Investment or Owner User | No. Stories | 1 |
| Property Type | Industrial | Year Built | 1972 |
| Property Subtype | Warehouse | No. Drive In / Grade-Level Doors | 3 |
| Building Class | C |
| Price | $1,400,000 |
| Price Per SF | $314 |
| Sale Type | Investment or Owner User |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.77 AC |
| Rentable Building Area | 4,452 SF |
| No. Stories | 1 |
| Year Built | 1972 |
| No. Drive In / Grade-Level Doors | 3 |
Amenities
- Fenced Lot
- Signage
- Skylights
- Yard
- Air Conditioning
About West of Van Dyke
The West of Van Dyke neighborhood is centered around the cities of Warren and Sterling Heights, the third and fourth most populous cities in Michigan. The area’s strategic location is a draw to many world leading automotive and manufacturing corporations and the multitude of businesses that support them. Local cities like Warren actively encourage industrial development and redevelopment through tax abatements.
Some of the area’s top employers include General Motors, TACOM, and Fiat Chrysler. The 710-acre General Motors Technical Center campus and the U.S. Army Detroit Arsenal, the only active-duty military installation in Michigan, are next to the juncture of Interstate 696 and Van Dyke. Michigan’s past and present are inextricably linked to the Big Three auto manufacturers: Ford, General Motors, and Chrysler. Having a highly efficient and robust transportation infrastructure is one of the many areas where this is readily apparent. This area is bounded by two major interstate and intrastate highways that have a combined average total traffic count of 500,000 cars per day. The Conrail shared assets industrial rail line runs the entire length of the West of Van Dyke neighborhood and services CSX and Norfolk Southern, linking to the main rail lines of the Detroit area.
The Detroit Port Authority oversees the 25 private and public maritime terminal facilities for international and domestic products with a network of rail intermodal facilities and container neutral pools. The nearby Ambassador Bridge and Detroit-Windsor Tunnel link the area to Canada and slightly further north the Blue Water Bridge connects Port Huron, Michigan, to Sarnia, Ontario. The Detroit Metropolitan airport has more than 1,100 flights every day to over four continents, and the nearby Willow Run Airport is one of the largest cargo airports in the U.S.
With almost 64 million square feet of inventory, West of Van Dyke is one of the nation’s largest industrial neighborhoods. The area’s total industrial assets are valued at just over $4 billion.
DEMOGRAPHICS
Regional Accessibility
PROPERTY TAXES
| Parcel Number | 23-07-22-351-005 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $321,200 |
PROPERTY TAXES
zoning
| Zoning Code | CK MAP |
| CK MAP |
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Michael Schmidt - Michael Schmidt
Presented by
Michael Schmidt
49260 Van Dyke Ave
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