5815 E Executive Dr
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5815 E Executive Dr
31,627 SF 100% Leased Industrial Building Westland, MI 48185 $3,250,000 ($103/SF) 8% Cap Rate
Investment Highlights
- The Property is currently 100% occupied with an operating NOI of $259,926 providing an investor stable cash flow throughout the lease terms.
- The weighted average increase for both tenants is 3.25% annually throughout the course of their term.
- Tenant is responsible to self maintain all facets of common area maintenance.
- : Each tenant has annual rental escalations throughout their primary lease term.
- The Investment provides minimal landlord responsibility to an investor. Both leases are NNN leases, which encapsulate a true passive investment.
- The Property is strategically positioned in the heart of the industrial corridor in Westland. Neighboring cities include; Canton, Plymouth and Livonia
Executive Summary
AQRE Advisors is pleased to present the sale of the ±31,627 SF multi-tenant Industrial Building is located at 5815-5859 E. Executive Dr. Westland, MI 48185 (“Property”). The Property is situated on 2.61 acres of land and is 100% occupied by two tier-one automotive supplier tenants.
The building is located approximately 0.5 miles away from Interstate 275, one of the most traveled thoroughfares in the state of Michigan which sees approximately 112,000 vehicles per day.
The building is located approximately 0.5 miles away from Interstate 275, one of the most traveled thoroughfares in the state of Michigan which sees approximately 112,000 vehicles per day.
Property Facts
| Price | $3,250,000 | Lot Size | 2.61 AC |
| Price Per SF | $103 | Rentable Building Area | 31,627 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 8% | Year Built/Renovated | 1983/2023 |
| Property Type | Industrial | Parking Ratio | 1.13/1,000 SF |
| Property Subtype | Manufacturing | No. Drive In / Grade-Level Doors | 3 |
| Building Class | C |
| Price | $3,250,000 |
| Price Per SF | $103 |
| Sale Type | Investment |
| Cap Rate | 8% |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Lot Size | 2.61 AC |
| Rentable Building Area | 31,627 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1983/2023 |
| Parking Ratio | 1.13/1,000 SF |
| No. Drive In / Grade-Level Doors | 3 |
PROPERTY TAXES
| Parcel Number | 56-028-04-0040-301 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $613,500 |
PROPERTY TAXES
Parcel Number
56-028-04-0040-301
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$613,500
zoning
| Zoning Code | LI-1 (Light Industrial) |
| LI-1 (Light Industrial) |
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5815 E Executive Dr
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