10.5 CAP - Fully Leased Investment -Long Term Tenant

Office for Sale
Catylist Listing ID: 30444930
Property Subtypes: Medical, Office Building
Building Size (RSF): 7,340 SF
Gross Land Area: 1.45 Acres
Sale Price: $1,250,000
Unit Price: $170.30 PSF
Property Use Type: Investment
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/15/2019

Overview / Comments

Investment opportunity in Big Rapids consisting of a medical office with a great return and strong Tenant. The building sits on 1.45 acres and has great visibility and accessibility to US 131.

In 2006, the building was built for Michigan Pain Consultants (MPC). In 2019, MPC renewed their lease for another 5 years until April 2024. MPC practices in 5 other locations throughout west Michigan.

Big Rapids is one hour north of Grand Rapids and is the home to Ferris State University. In recent years, the area has grown and continues to thrive. Strategically located, this MPC facility has served several local and surrounding communities for the past 13 years.

Additional Details

Nearest MSA: Big Rapids
County: Mecosta
Taxing Authority: Township of Big Rapids
Tax ID/APN: 05-017-020-500
Zoning: H1- HIGHWAY INTERCHANGE
Property Visibility: Excellent
Highway Access: US 131
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 2006
Roof Type: Gable
Construction/Siding: Steel Frame, Stone, Wood Frame
Parking Type: Surface
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Water Service: Well
Sewer Type: Septic

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,067 11,892 17,456
Median Age: 45.81 26.22 29.67
Households: 428 3,694 6,006
The information presented herein is provided as is, without warranty of any kind. Neither Commercial Alliance of REALTORS West Michigan nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.