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Private Investor Acquires Industrial Property In Auburn Hills, MI For $8.65M

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SOLD
$8,650,000

Michigan

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Industrial77,100 SF
Sold 06/30/2023
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Property Image
SOLD

Private Investor Acquires Industrial Property In Auburn Hills, MI For $8.65M

3333 Bald Mountain Road Auburn Hills, MI 48326, USA

See Similar Deals
Industrial77,100 SF
Sold 06/30/2023
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Summary

MICHIGAN
Asset Type:Industrial
Price Per Square Foot:$112
Total Square Footage:77,100 SF
Transaction Type:Sale

A single-tenant industrial property located at 3333 Bald Mountain Road in Auburn Hills, MI was recently sold for $8,650,000. The property spans across 77,100 square feet, resulting in a price per square foot of $112. The transaction was facilitated by Northmarq's Chicago investment sales office, with Senior Vice President BJ Feller and Senior Investment Analyst Josh Dicker representing the Michigan-based developer. The buyer, on the other hand, was a private investor from California.

Summary of transaction details

This deal showcases the successful collaboration between Northmarq's BJ Feller, Senior Vice President, and Josh Dicker, Senior Investment Analyst. Their expertise and representation ensured a smooth transaction for the Michigan-based developer, ultimately resulting in the sale of the industrial property. The buyer, a private investor from California, recognized the potential of the property and successfully acquired it through the efforts of Feller and Dicker.

Players

BJ Feller
4 deals$18.6M volume
BROKER

Details

SOLD
IMAGE: BJ Feller & Josh Dicker DATE: 06/30/2023 ADDRESS: 3333 Bald Mountain Road MARKET: Auburn Hills, MI ASSET TYPE: Industrial BROKERS: BJ Feller & Josh Dicker - Northmarq SALE PRICE: $8,650,000 SF: 77,100 ~ PPSF: $112 NOTE: Northmarq's Chicago investment sales office, led by Senior Vice President BJ Feller and Senior Investment Analyst Josh Dicker, facilitated the $8.65 million sale of a single-tenant industrial property. The Michigan-based developer was represented by Feller and Dicker, while the buyer was a private investor from California.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$461,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$30,731.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,005.41
Annual Debt Service$492,064.96