JAMES SQUARE

Office for Sale
Catylist Listing ID: 29988471
Property Subtypes: Mixed Use, Flex Space, Net Leased, Office Building
Building Size (RSF): 10,250 SF
Gross Land Area: 39,200 SF
Sale Price: $895,000
Unit Price: $87.32 PSF
Ceiling: 9 ft.
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Building Name: James Square
Class of Space: Class A
Usable Size (USF): 10,250 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/13/2018

Overview / Comments

This is a multi tenant income office building for sale fully leased with leases renewed July 1, 2018. Located on Bay Road in Saginaw Twp. New parking lot, all new HVAC Units and it has over 37,000 cars a day passing by.

Financials

Finance Data Year 2018
Potential Rental Income $102,000 (Annual)
Net Operating Income $87,600 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name Berkshire Hathaway Real Estate
Contact Name Larry C. Miller
Phone Number 989-790-2611
Toll-Free Number 989-790-2611
Website URL berkshirehathawaymi.com
Industry Type Real Estate and Rental and Leasing
Suite Number 200-600
SF of Space Occupied 7,666 SF
Current Rent $62,522 PSF (Annual)
Escalations 3% on options
Options 2-3 year with 3% increase each.
Tenant Business Name The Miller Group
Contact Name Larry C. Miller
Contact Title President
Phone Number 989-790-2611
Toll-Free Number 989-790-2611
Website URL themillergrp.com
Industry Type Real Estate and Rental and Leasing
Year Founded 1986
Suite Number 100
SF of Space Occupied 2,806 SF
Current Rent $24,000 PSF (Annual)
Options open

Additional Details

Nearest MSA: Saginaw
County: Saginaw
Taxing Authority: Saginaw Twp
Tax ID/APN: 124151170000
Zoning: B-3
Market Type: Medium
Property Located Between: Weiss & Shattuck
Road Type: Highway
Property Visibility: Excellent
Transportation: Bus
Highway Access: I- 675 and I-75 are within a mile.
Airports: MBS
Site Description: 10200 sq ft of office and Retail Space
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1967
Year Renovated: 2017
Roof Type: Flat
Construction/Siding: Concrete
Exterior Description: Block and Vinal
Parking Type: Surface
Parking Description: Asphalt
Total Parking Spaces: 100
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable, DSL, Satellite, T1/T3
Interior Description: New
Zoning Description: Comercial
Lot Frontage: 140
Lot Depth: 280
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Land Ownership: LLC
Legal Description: See Broker

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,800 82,508 118,711
Median Age: 37.49 38.32 37.22
Households: 5,744 33,876 47,541
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