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Absolute NNN Investment Property In Kalamazoo

3617 Gembrit Circle, Kalamazoo, MI 48003
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3617 Gembrit Circle, Kalamazoo, MI 48003
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FOR SALE
payments
Cash / Conventional
credit_score
Sq Ft
1.4
acres
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Ancillary Business
Dispensary
Greenhouse
Cultivation (Indoor)
Cultivation (Outdoor)
Processing
Testing Laboratory
Transportation
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WATCHING THIS LISTING
Important Details
- Absolute NNN Lease
- High demand industrial location
- Potential 58% cash on cash return
- Personal Guarantee

Summary
Introducing an exceptional industrial investment property for sale in the prime location of 3617 Gembrit Circle, Kalamazoo, MI. This industrially zoned property with land offers a unique opportunity for investors seeking a reliable income stream and long-term growth potential. With a solid tenant in place and impressive features, this property is a valuable addition to any investment portfolio. The current tenant is paying significantly less than market rate because they are renovating the full interior of the building. They have the option to purchase the property at $550,000 during their initial lease term of 24 months, or renew the lease for an additional 2 years. Situated on 1.41 acres of land, the main building spans 6,840 square feet, providing ample space for various types of operations. The property boasts a brick/block structure and a shingle roof that was updated in 2015. It features forced air cooling and both forced and radiant heating. With a generous ceiling height of 10 feet, the property accommodates various business needs. Utilities including electric, gas, water, and sewer are readily available, with the added advantage of 3-phase 480V power supply, ideal for heavy power requirements. The property also offers 20 parking spaces for convenient employee and customer access. With 200 feet of road frontage, the property enjoys excellent visibility and accessibility from major roads and highways. Currently, the property is tenant occupied, presenting a hassle-free investment opportunity. The tenant, a virtual reality gaming venture, operates under an Absolute NNN Lease, providing a stable rental income and minimal landlord responsibilities. The lease is further secured by a personal guarantee from the business owner, who also owns and operates a successful scrap yard in the area. Located in a desirable industrial park in Kalamazoo, this property allows for a wide range of commercial, industrial, and other permissible uses and will always be in high

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Property Information
Potential Use
Ancillary Business
Dispensary
Greenhouse
Cultivation (Indoor)
Cultivation (Outdoor)
Processing
Testing Laboratory
Transportation
Address
3617 Gembrit Circle, Kalamazoo, MI 48003
Marijuana Permit Status
Existing Approvals (if any)
Parcel Size
1.4
Sq Ft
Year Built
1980
Zoning
I-2
Utilities
Electric, Gas, Water, Sewer - 3 phase 480V - Heavy power to building currently
Annual Taxes
$
9826.33
Traffic Count
6870
Parking
20
Parcel ID
06-36-213-026
Description
Due Diligence Documents
AUCTION
to

Absolute NNN Investment Property In Kalamazoo

3617 Gembrit Circle, Kalamazoo, MI 48003
swipe
3617 Gembrit Circle, Kalamazoo, MI 48003
Sq Ft
1.4
acres
print
Zoned
I-2
print
mapthislocation
Features
- Absolute NNN Lease
- High demand industrial location
- Potential 58% cash on cash return
- Personal Guarantee

Inspection Dates:
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Starting Bid:
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Land Contract Terms:
Down payment due at closing:
Annual Interest Rate:
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Balloon Payment Due:
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Monthly payment:
Land contract form:
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WATCHING THIS LISTING
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360 Virtual Tour - Walk Through The Building Now

Description
Introducing an exceptional industrial investment property for sale in the prime location of 3617 Gembrit Circle, Kalamazoo, MI. This industrially zoned property with land offers a unique opportunity for investors seeking a reliable income stream and long-term growth potential. With a solid tenant in place and impressive features, this property is a valuable addition to any investment portfolio. The current tenant is paying significantly less than market rate because they are renovating the full interior of the building. They have the option to purchase the property at $550,000 during their initial lease term of 24 months, or renew the lease for an additional 2 years. Situated on 1.41 acres of land, the main building spans 6,840 square feet, providing ample space for various types of operations. The property boasts a brick/block structure and a shingle roof that was updated in 2015. It features forced air cooling and both forced and radiant heating. With a generous ceiling height of 10 feet, the property accommodates various business needs. Utilities including electric, gas, water, and sewer are readily available, with the added advantage of 3-phase 480V power supply, ideal for heavy power requirements. The property also offers 20 parking spaces for convenient employee and customer access. With 200 feet of road frontage, the property enjoys excellent visibility and accessibility from major roads and highways. Currently, the property is tenant occupied, presenting a hassle-free investment opportunity. The tenant, a virtual reality gaming venture, operates under an Absolute NNN Lease, providing a stable rental income and minimal landlord responsibilities. The lease is further secured by a personal guarantee from the business owner, who also owns and operates a successful scrap yard in the area. Located in a desirable industrial park in Kalamazoo, this property allows for a wide range of commercial, industrial, and other permissible uses and will always be in high
Property Information
Potential Use
I-2
Ancillary Business
Dispensary
Greenhouse
Cultivation (Indoor)
Cultivation (Outdoor)
Processing
Testing Laboratory
Transportation
Address
3617 Gembrit Circle, Kalamazoo, MI 48003
Marijuana Permit Status
Existing Approvals (if any)
Parcel Size
1.4
Sq Ft
Year Built
1980
Zoning
I-2
Utilities
Electric, Gas, Water, Sewer - 3 phase 480V - Heavy power to building currently
Annual Taxes
$
9826.33
Traffic Count
6870
Parking
20
Parcel ID
06-36-213-026
Description
Due Diligence Documents

Absolute NNN Investment Property In Kalamazoo

3617 Gembrit Circle, Kalamazoo, MI 48003
swipe
3617 Gembrit Circle, Kalamazoo, MI 48003
mapthislocation
No items found.
UNDER CONTRACT
CALL FOR PRICE
payments
Cash Only
credit_score
Sq Ft
1.4
acres
print
Ancillary Business
Dispensary
Greenhouse
Cultivation (Indoor)
Cultivation (Outdoor)
Processing
Testing Laboratory
Transportation
Important Details
- Absolute NNN Lease
- High demand industrial location
- Potential 58% cash on cash return
- Personal Guarantee

Summary
Introducing an exceptional industrial investment property for sale in the prime location of 3617 Gembrit Circle, Kalamazoo, MI. This industrially zoned property with land offers a unique opportunity for investors seeking a reliable income stream and long-term growth potential. With a solid tenant in place and impressive features, this property is a valuable addition to any investment portfolio. The current tenant is paying significantly less than market rate because they are renovating the full interior of the building. They have the option to purchase the property at $550,000 during their initial lease term of 24 months, or renew the lease for an additional 2 years. Situated on 1.41 acres of land, the main building spans 6,840 square feet, providing ample space for various types of operations. The property boasts a brick/block structure and a shingle roof that was updated in 2015. It features forced air cooling and both forced and radiant heating. With a generous ceiling height of 10 feet, the property accommodates various business needs. Utilities including electric, gas, water, and sewer are readily available, with the added advantage of 3-phase 480V power supply, ideal for heavy power requirements. The property also offers 20 parking spaces for convenient employee and customer access. With 200 feet of road frontage, the property enjoys excellent visibility and accessibility from major roads and highways. Currently, the property is tenant occupied, presenting a hassle-free investment opportunity. The tenant, a virtual reality gaming venture, operates under an Absolute NNN Lease, providing a stable rental income and minimal landlord responsibilities. The lease is further secured by a personal guarantee from the business owner, who also owns and operates a successful scrap yard in the area. Located in a desirable industrial park in Kalamazoo, this property allows for a wide range of commercial, industrial, and other permissible uses and will always be in high

360 Virtual Tour - Walk Through The Building Now

Property Information
Potential Use
Ancillary Business
Dispensary
Greenhouse
Cultivation (Indoor)
Cultivation (Outdoor)
Processing
Testing Laboratory
Transportation
Address
3617 Gembrit Circle, Kalamazoo, MI 48003
Marijuana Permit Status
Existing Approvals (if any)
Parcel Size
1.4
Sq Ft
Year Built
1980
Zoning
I-2
Utilities
Electric, Gas, Water, Sewer - 3 phase 480V - Heavy power to building currently
Annual Taxes
$
9826.33
Traffic Count
6870
Parking
20
Parcel ID
06-36-213-026
Description
Due Diligence Documents
AUCTION COMPLETE

Absolute NNN Investment Property In Kalamazoo


SOLD!
3617 Gembrit Circle, Kalamazoo, MI 48003
3617 Gembrit Circle, Kalamazoo, MI 48003

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Learn About The Area

Kalamazoo, MI - Kalamazoo County
Kalamazoo, MI - Kalamazoo County
Kalamazoo is located in south west Michigan. Known for being the origin of the Gibson guitar and a favorite place to visit for Elvis Presley, niche.com claims Kalamazoo is one of the best places to live in Michigan. With expected job growth to reach 29.9% and and a highly diverse community, the marijuana industry is poised to make its mark in this region. There is a high young professional population in this community with moderate political views and above average public school system. The city hosts many festivals which allots for a spike in seasonal tourism.
Local Stats
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Michigan
Marijuana Facilities For Sale Or Lease
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