Catylist ID: #30404634
Office for Sale
|Catylist Listing ID:||30404634|
|Building Size (RSF):||7,056 SF|
|Gross Land Area:||1.52 Acres|
|Unit Price:||$72.97 PSF|
|Property Use Type:||Investment|
|Class of Space:||Class A|
|Usable Size (USF):||7,056 SF|
|Sale Terms:||Cash to Seller|
Overview / Comments
Bank owned, newer, clean and very well maintained medical office building in St. Joe Michigan, in the office park directly across from Lakeland Hospital, which recently affiliated with Spectrum Health.
The building will easily accommodate two tenants. Part of the space was last used as a sleep clinic, so there are six "bedrooms" with a 3/4 bath in between. Otherwise, many of the office / exam rooms are equipped with hot and cold water / sinks, built in cabinetry, generous lighting and higher end office finish.
The building was built in 2008 and shows very little wear.
It will be delivered vacant. At roughly $73 per square foot, you'd be at roughly a 17 cap by putting in a tenant for $13 NNN. Sure, you'll have holding costs, leasing fees and perhaps some tenant improvements, but at this price, you're still hitting a home run.
|Nearest MSA:||Niles-Benton Harbor|
|Taxing Authority:||St. Joseph County|
|Total Number of Buildings:||1|
|Number of Stories:||1|
|Heat Type:||Natural Gas|
|Air Conditioning:||Evaporative Cooler|
|Part of Planned Development?:||Yes|
|Proximity:||3 miles||5 miles|
Michael A. CagenMarcus & Millichap CARWM Member
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