Updated Dec 4, 2024
Zach Cummings Of Friedman Real Estate Sells Industrial Property In Mount Clemens For $3M
200 Elizabeth Road
$3,000,000
$70/SF
Building Size
42,385 SF
Asset Type
Industrial
Closing
Jun 28, 2024
About this deal
AI
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.
Players
Mount Clemens Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93