Investment Opportunity

Office for Sale
Catylist Listing ID: 30853096
Property Subtypes: Executive Suites, Medical, Net Leased, Office Building
Building Size (RSF): 12,596 SF
Gross Building Area: 12,672 SF
Gross Land Area: 1.71 Acres
Sale Price: $2,175,000
Unit Price: $172.67 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Average Occupancy Rate: 100
Last Updated: 9/13/2023

Overview / Comments

Great investment opportunity - fully leased professional and medical office building. This well maintained property is comprised of 12,672 square feet situated on 1.71 acres more or less. Located in a popular business corridor just east of Pine Grove Avenue / M-24.

Financials

Finance Data Year 2023
Real Estate Taxes - Annual($) $26,245 (Annual)
Tax Value Land $223,200
Assessed Value - Total($) $962,000 (Annual)
Net Operating Income $140,000 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name Port Huron Family Care
Is Renting? Yes
SF of Space Occupied 3,920 SF
Tenant Business Name UHY LLP
Is Renting? Yes
SF of Space Occupied 8,745 SF
Escalations CPI

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Saint Clair
Tax ID/APN: 74-06-027-3001-001
Zoning: C-1 COMMERCIAL
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1979
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface
Parking Description: 70 parking spaces more or less. Parking lot located in front and rear of the building.
Total Parking Spaces: 70
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable
Zoning Description: C-1
Lot Frontage: 94
Lot Depth: 134
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,476 33,839 57,904
Median Age: 43.68 40.19 39.01
Households: 3,840 14,111 23,049

Contact

Photograph of Listing Agent

Korissa Kramer, CCIM

Kramer Commercial Realty CPIX Member
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