Hartland Medical Investment Building

Office for Sale
Catylist Listing ID: 30737392
Property Subtypes: Medical
Condo? Yes
Building Size (RSF): 7,753 SF
Gross Building Area: 11,000 SF
Sale Price: $1,950,000
Ceiling: 9 ft.
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Hartland Millennium Center
Class of Space: Class A
Usable Size (USF): 7,753 SF
Sale Terms: Cash to Seller
Cap Rate: 8.0%
Average Occupancy Rate: 90
Last Updated: 9/14/2021

Overview / Comments

Three Medical Condominium Units in a Building that has 4 Condo units. This is in the Hartland Millennium Center 1/2 Mile East of US-23 on M-59 which consists of Three Free standing Medical Buildings, of which these units are in one. All three units have solid Medical Leases with end dates 2021-2025 with extension options. Financial details to be provided upon signing Confidentiality Agreement in advance. Cap rate on the three units is 8%. All units are occupied, great investment opportunity in an established development.

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Livingston
Submarket/Township: Howell/Brighton Area
Taxing Authority: Hartland Township
Tax ID/APN: 0822305004
Is Condo?: Yes
Zoning: COMMERCIAL
Property Located Between: 1/2 Mile East of US-23 on M-59(Highland Rd.)
Property Visibility: Excellent
Highway Access: .5 miles to US-23
Site Description: Part of a 3 building Development called Hartland Millennium Center all medical uses with a great mix. Physical Therapy, Optometrist, Chiropractor, Dentist, General Practitioner, DMC, Autistic Therapy
Area Description: Rural area fast developing
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 3,000 SF
Year Built: 2005
Roof Type: Gable
Construction/Siding: Brick
Exterior Description: All brick one story
Parking Type: Structure
Parking Description: Loads of parking shared by three building, never full
Total Parking Spaces: 40
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: Large Central waiting area for all units to use, w/bathrooms
Zoning Description: Commercial
Lot Frontage: 150
Lot Depth: 200
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Private
Legal Description: Hartland Center Office Condo Site 1,3,4 Split on 3/3/2006

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 16,498 41,175
Median Age: 40 41.11
Households: 5,824 14,652
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