United Safety | Fireboy-Xintex

379 Lake Michigan Drive Northwest, Grand Rapids, MI 49534

$3,184,615

Cap Rate 6.63%

Views: 144 DOM: 385 Updated: 10.30.24 Posted: 11.02.23 Status: Active

Summary

Price $3,184,615	Built/Renov 2015	Tenant United Safety \| Fireboy-Xintex
Cap Rate 6.63%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 22,292	Lease Start 11-07-2022	#Units 2
Price/SF $142.86	Expiration 11-06-2034	Tenant Type Industrial
NOI $211,149	R. Term 9.11	Ownership Fee Simple
Rent/SF $9.47	Increases 2.0%/1/yrs	Pop 5Mi 70,338
Lot/AC 1.65	Options 2/5yrs/2%	AHHI 5Mi $88,850

Lease Highlights

Fireboy-Xintex has a 34-year operating history at this location
The tenant has 10 years remaining with 2 (5-year) options to extend
The lease features 2% rental increases annually
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

This 22,292 square feet manufacturing facility is situated on a 1.65 acres land, along Lake Michigan Drive NW. It is positioned within a dense commercial area, with numerous other corporations. Additionally, it is within close proximity to many major national tenants, including NAPA Auto Parts, Panera, Applebee’s, Fifth Third Bank and more. The surrounding 5-mile area is comprised of strong...

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Key Features

In location for years
Near major nationals
Dense 200M+ pop 5 mi
Top 100 MSA
Strong demographics
Long operation history
Absolute NNN
Long 10+ yr lease
Annual rent increases
Corporate Guarantee

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Links

United Safety & Survivability Corp. Wikipedia Grand Rapids, Michigan Zip Code 49534 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: United Safety | Fireboy-Xintex
Guarantor:Corporate
Company:United Safety & Survivability Corp.
# Units:2
Stock:Private

About Tenant

Fireboy-Xintex manufactures a variety of advanced fire detection, fire suppression and gas detection products. Founded in 1973 in Grand Rapids, MI, the private company is a leader in the...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,025	27,769	77,586
2023 Total Population :	3,963	26,528	75,610
2023 Employed Civilian Pop :	2,241	14,668	38,587
2023 Total Businesses :	174	601	2,302
2023 Average Household Income :	$ 98,080	$ 98,977	$ 97,039
2023 Total Consumer Spending :	$ 122 M	$ 922 M	$ 2383 M
2023 Median Age :	37	39	37
2023 Total Households :	1,442	10,769	28,399
2023 Pop Age 25+: Bachelor's Degree :	453	4,473	13,162
2023 Average Home Value :	$ 267,176	$ 302,592	$ 286,665

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
M-45	Sessions Dr	2020	19,920	0.30 mi
M 45	8th Ave NW	2021	26,195	0.38 mi
Lake Michigan Drive	12th Ave NW	2022	27,245	0.38 mi
2nd Avenue	Lake Michigan Dr NW	2022	621	0.41 mi
Old M 45	Dover Dr NW	2021	6,241	0.53 mi
8th Avenue	Lake Michigan Dr	2022	6,072	0.53 mi
8th Ave NW	Fox Run	2010	952	0.59 mi
Lake Michigan Dr NW	8th Ave NW	2010	24,461	0.66 mi
Lake Michigan Dr NW	Wilson Ave NW	2011	23,947	0.87 mi
Wilson Avenue Northwest	Wilson Ave NW	2022	20,812	0.90 mi

Listing Broker

Robert Bender

Fortis Net Lease

Contact

56 Listings
7078 Views
5 Sold

Doug Passon

Fortis Net Lease

Contact

72 Listings
8833 Views
12 Sold

Robert Bender

One of the first things I learned in my professional career, which is arguably one of the most important life lessons of all, is to do what you say you are going to do. If you follow through with the commitments you make to your family, friends and clients then success with all is virtually guaranteed. Today, as the oldest of four brothers, the father of four wonderful children and as one of the founders of Fortis Net Lease, this very simple life lesson guides everything I do. Having earned

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Doug Passon

Doug serves as Managing Partner and co-founder of Fortis Net Lease. His passion for the commercial real sector started in college while attending the University of Michigan and upon graduation, Doug started his career at a nationally-recognized, publicly traded real estate investment firm. When first starting out, he solely focused on building local relationships with merchant developers and quickly became one of the top agents in the firm’s Detroit office. After building long-standing relation

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