1244 W Dean GENERAL INFORMATION Location: 1244 W Dean Road Closest Intersection: Lewis Avenue City, State: Temperance, MI County: Monroe Zip: 48182 Parcel No: 5802-022-069-10 HUGE REDUCTION! Sale Price: $1,295,000 Current NOI: $180,019.00 Current CAP Rate: 13.90% PROPERTY INFORMATION Building SF: Land Size: Land Dimensions: Parking: Zoning: Current Use: 95,482 Sq. Ft. 6.09 Acres (Approximate) Front 240 x 222 Rear 400 x 524 Approximately 160 Visitor/Employee spaces. R-2b (Legal non-conforming) MTS Seating, MTS Burgess, Specialty Hardwood, etc SITE COMMENTS/FEATURES Great investment property anchored by two oustanding seating companies; MTS has 4 years remaining on their lease and MTS Burgess has a new 5 year lease. Additional NOI upside potential of $25,000+. 7116 Summerfield Rd, Suite 1E, P.O. Box 292 Lambertville, MI 48144 p: 734.856.6464 f: 419.517.5042
1244 W. Dean BUILDING DETAILS BUILDING DETAILS Year Built: 1962-85 Walls: Block/Metal Skin Roof: Insulated metal/standing seam Joist: Steel* Columns: Steel* Floor: 6 Concrete Loading Docks: 5 (3 are interior) Grade Doors: 5 Office Size: 1st floor approx 4,000 Sq. Ft. 2nd floor 10,000 Sq. Ft. Heat (Office): Gas Forced Air A/C (Office): Central Restrooms: 4 REAL ESTATE TAX INFORMATION Real Estate Tax Year: 2015 Winter Taxes: $17,628.25 Summer Taxes: $ 6,524.69 Total Annual Taxes: $24,152.94 Ceiling Height: Joist Heights: Bay Size: Bldg Dimensions: Sprinklers: Heat-Fuel: Type: Lights: Shop Toilets: UTILITIES Gas: Water: Sanitary Sewer: Electric: Storm Sewer: 14 to 22 12 to 18 See diagram See diagram No (fire walls separate each section) Gas Infrared panel block unit heaters Sodium Vapor* 12 (in 2 restrooms) plus 3 new additional toilets and 2 urinals for factory use Michigan Gas Utilities South County Bedford Township Consumers Power - Primary Power 3,000+ Amps, bus throughout Bedford Township
Dean Road Industrial/Investment Property for Sale 1244 W. Dean Rd 1244 W. Dean Road
1244 W. Dean Rd Site Plan Description (1) 1962 1,000 Sq. Ft. single story office. (2) 1985 First floor - 10,000 Sq. Ft., includes space, showroom, lunchroom, storage area, restrooms. Second floor - 10,000 Sq. Ft., includes open office, private offices, three restrooms. (3) 1978 12,864 Sq. Ft., includes two interior truck wells, one OH grade door (10 x 10 ), clear ceiling height 12 to 17. (4) 1978 15,840 Sq. Ft., includes two OH grade doors (10 x 10 ), clear height 13 to 18. (5) 1976 7,790 Sq. Ft., includes one interior truck well, clear height 16. (6) 1969 10,400 Sq. Ft., wood truss, metal halide lighting, one OH grade door (10 x 10 ), 10 clear ceiling height. (7) 1970 6,588 Sq. Ft., fluorescent and sodium lighting, exhaust/ventilation, gas fired unit heater, one OH grade door (21.5 wide x 14 high), clear ceiling height 18. (8) 1973 9,000 Sq. Ft., pole barn, wood truss, metal halide lighting, 10 clear height. (9) 1983 12,000 Sq. Ft., unheated pole barn, double truck dock, sodium lighting, 10 clear height.
1244 W. Dean Rd INDUSTRIAL/INVESTMENT PROPERTY AT 1244 DEAN ROAD TEMPERANCE, MI 48182 2016 PROFORMA BASED ON ACTUAL RENTS Gross Scheduled Rent (See rent roll) $ 216,727.00 Plus: Other Rental Income (Storage) $ 0.00 Gross Rental Income $ 216,727.00 Plus: Reimbursed Expenses $ 298,575.00** TOTAL INCOME $ 515,302.00 Less: Operating Expenses Utilities (Non-gas) Electricity $ 177,043.00 Water & Sewer $ 12,586.00 $ 189,634.00 Utilities (Gas) $ 71,606.00 Real Estate Taxes $ 24,563.00 Insurance $ 17,025.00 Maintenance & Repairs $ 13,000.00 Security $ 5,920.00 Roof & Structural Repairs $ 3,200.00 Total Operating Expenses $ 324,948.00 Operating Income $ 190,354.00 Less: Management Fee ($500/Mo) $ 6,000.00 Less: Roof and Structure Reserves (2%) $ 4,335.00 NET OPERATING INCOME $ 180,019.00 **Income/expense breakdown and expense allocation formulas are available upon accepted offer.
INDUSTRIAL/INVESTMENT PROPERTY AT 1244 DEAN ROAD TEMPERANCE, MI 48182 (AS OF 6-24-2016) Tenant Leased Unit Rented SF Rate ($/SF) Annual Rent Monthly Rent Lease Term Comments MTS Seating Part of 3 11,312 SF $2.90/SF $32,804.76 $2,733.73 5/18/00-5/31/23 Lease renewed in June 2016 for seven (7) more years. MTS Burgess 2A, Part of 3, 4, 57,758 SF $2.90/SF $167,722.08 $13,976.84 5/18/00-12/31/24 Lease renewed in June 2016 for seven (7) 5, 6, 8 and 9 more years. Chris Manera dba 1 1,248 SF $3.37/SF $0.00 $0.00 Month-to-Month Tenant not currently paying rent Fox Business (See Broker for Explanation). Tim Vann dba 7 5,480 SF $2.85/SF $15,600.00 $1,300.00 Month-to-Month Lease is currently being negotiated: Specialty Hardwood Tenant pays estimated monthly amount of $823.25 toward expenses with annual Reconciliation. Richard Grega 2 (upper) 100 SF $6.00/SF $600.00 $50.00 Month-to-Month TOTALS 75,898 SF $216,727.00 $18,060.57 7116 Summerfield Rd, Suite 1E., P.O. Box 292 P.O. Box 292 Lambertville, MI 48144 P: 734.856.6464 F: 419.517.5042