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2235 Dewey AveBenton Harbor, MI 49022
2235 Dewey Ave
Asset ClassIndustrial, Land
Cap Rate8.07%
Deal Size: $2 MCap Rate: 8.07%Land: 10 AcresAccess Data Room
Single Tenant Absolute Net Deal | 5 Additional Acres of Heavy Industrial Land
overview of deal

Overview

2235 Dewey Avenue, located in Benton Harbor, MI, is a 43,640 SF industrial building on 10 acres. It is currently fully occupied by a single tenant signed to an absolute net lease, providing minimal landlord responsibilities. The building was built in 1972 and is steel framed with metal siding. The Industrial portion of the building features 5 docks with levelers, 2 of which are covered, 1 drive-in-door, 2,000 amps of 480v/3-phase electrical service, additional two-story office in warehouse and 20’8” clear heights.

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Investment Highlights

  • NOI of $161,468
  • Recent 5-year lease
  • (1) 5-year renewal option, 3% annual escalators
  • Corporate Guarantor
  • Minimal landlord responsibilities
  • Access to multiple major markets
  • Quick access to 3 major highways

Table Information

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Total Building Size
43,640 SF
Warehouse/Manufacturing Space
39,860 SF
Office Space
3,780 SF
Total Lot Size
10 Acres
Buildable Land
5 Acres
Zoning
F, Heavy Industrial
Year built
1972
Construction
Steel Frame & Block
Column Spacing
40' x 40'
Ceiling Height
27' 1''
Clear Height
20' 8''
Fire Suppression
Yes
Power (Amps | Volts)
2,000 Amps | 480v/3-Phase
Docks
5
Doors
1
2235 Dewey AveBenton Harbor, MI 49022

Sales Team

Michael VisserPartner | Senior Vice President | Investment(616) 327-2617michael.visser@advantagecre.com
Lane WellsSenior Associate | Industrial(269) 240-0438lane.wells@advantagecre.com
John Kuiper SIOR, CCIMPartner | CEO | Broker | Industrial(616) 327-2612john.kuiper@advantagecre.com
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Listing provided by Revere CRE