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Zach Cummings Of Friedman Real Estate Sells Industrial Property In Mount Clemens For $3M
SOLD
$3,000,000
Michigan
See Similar DealsIndustrial42,385 SF
Sold 06/28/2024
SOLD
Zach Cummings Of Friedman Real Estate Sells Industrial Property In Mount Clemens For $3M
200 Elizabeth Road
See Similar DealsIndustrial42,385 SF
Sold 06/28/2024
Summary
MICHIGAN
Asset Type:Industrial
Price Per Square Foot:$70
Total Square Footage:42,385 SF
Transaction Type:Sale
The industrial property located at 200 Elizabeth Road in Mount Clemens, Michigan, spanning approximately 42,385 square feet, was successfully sold for $3 million. The transaction was facilitated by Zach Cummings of Friedman Real Estate, who represented the seller in this asset liquidation deal.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,000,000
- Address: 200 Elizabeth Road
- Market: Mount Clemens, MI
- Price per Square Foot: $71
Zach Cummings, the broker from Friedman Real Estate, played a pivotal role in finalizing the sale of this industrial property. The buyer, a local fabrication company, acquired the property with intentions to relocate its operations to this new site.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$160,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37
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