ACCREDITED TURNKEY SURGICAL SUITE (SUB-LEASE OR SALE)

Office for Sale
Catylist Listing ID: 30765209
Property Subtypes: High-Tech, Institutional, Medical, Research & Development
Building Size (RSF): 3,933 SF
Gross Building Area: See Agent
Sale Price: $849,000
Unit Price: $215.87 PSF
Property Use Type: Business
Building Name: 4940 Cascade Road SE
Class of Space: Class A
Usable Size (USF): 3,420 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 11/14/2021

Overview / Comments

Are you an independent physician looking for a more economical surgery facility channel? Turnkey accredited surgical space–which includes several fully furnished administrative offices, staff breakroom, and private reception, and pre/post op bays. Current physician wishes to lease back the OR and pre- and post-op bays on Tuesdays only.

Ample on-site parking on newly poured concrete surface lot. No Certificate of Need (CON) is currently in place. More highlights:

1. Accredited surgery facility w/custom ventilation and 4-hour back-up generator
2. Builder: Johnson Construction (specializes in surgery center projects)
3. First floor in a Class A brick and glass building on Cascade Road
4. Extensive leasehold improvements by Johnson Construction (specializes in surgery center projects)
5. $250,000 of OR medical equipment
6. Several pre-/post-op bays
7. Fully furnished reception, break room, and 3 executive offices
8. New poured concrete surface parking
9. Sub-lease (modified gross lease structure) from current physician through March 2024; renewal options to be coordinated prior to close.
10. Physician who built out the space desires to lease back Tuesdays for surgeries and will supply her own surgical supplies and meds. Her administrative office is across the hall.

LISTED ALSO AS A SUBLEASE 4 DAYS/WEEK: $8,797.58/month
EQUIPMENT LEASE: $650/month
Additional medical equipment lease agreement and supply of medicines and prescriptions are available in addition to the lease space (negotiable).

LEASE STRUCTURE: MODIFIED GROSS
Landlord expenses include pro-rata share of property taxes, commercial general liability insurance, utilities separately metered electric, plus pro rata share of other utilities, snowplowing, landscaping, and building exterior maintenance. Tenant pays for interior repairs and maintenance, janitorial, plumbing, mechanical, and electrical repair.

Brochure by request.

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: Ada/Cascade
Taxing Authority: Ada Township
Tax ID/APN: 41-15-31-359-014
Zoning: PUD OFFICE
Property Located Between: Forest Hill Avenue and Spaulding
Property Visibility: Excellent
Highway Access: 1.5 miles to I-96
Airports: Gerald R. Ford Int'l Airport
Site Description: Turnkey surgical space available four days/week. Current tenant spent more than $750,000 on the buildout + $250,000 in equipment and plans to use the space one day/week. Ample on-site parking. No Certificate of Need (CON) is currently in place. Additional medical equipment lease agreement and supply of medicines and prescriptions are available in addition to the lease space (negotiable).
Area Description: Ada Township, a major section of the thriving Forest Hills community, lies a few miles Southeast of Grand Rapids where the Grand and Thornapple Rivers converge. The Cascade Road corridor offers a mix of medical, retail, and office and connects the suburbs to the nearby city and interstate thoroughfares.
Total Number of Buildings: 1
Number of Stories: 3
Construction/Siding: Brick
Exterior Description: Class A brick and glass modern building.
Parking Type: Surface
Parking Description: Ample surface parking. Poured concrete new 2020.
Passenger Elevators: 1

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,422 47,711 156,839
Median Age: 38.88 38.51 36.77
Households: 2,520 18,225 60,420
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