Office for Sale
Catylist Listing ID: 29995689
Property Subtypes: Mixed Use, Office Building, Other
Building Size (RSF): 7,990 SF
Gross Building Area: See Agent
Gross Land Area: 0.57 Acres
Sale Price: $699,980
Unit Price: $87.61 PSF
Property Use Type: Investment
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 9.31%
Average Occupancy Rate: 100
Last Updated: 10/23/2017

Overview / Comments

This two-tenant office building investment includes a CPA office that is willing to sign a new 5 year lease at closing, and a Physical Therapist recently expanded! The subject is located at the southwest quadrant of 12 Mile Road and Delton Street.

Two Property Investment Sale! This is an exceptional two property portfolio that boast a strong tenant roster in a growing market. This package deal includes one 7,990 Sq. Ft. two tenant office building and a 4,992 Sq. Ft. two tenant retail strip center, both 100% occupied. This package deal provides for blended cap rate of 9.310%. Upon request a full investment package is available for review. Speak to your lender about exact mortgage rate and terms.

1.) 520 E. 12 Mile Road Madison Heights
Tenants: CPA office (willing to sign new 5 year lease at closing), and a Physical Therapy just expanded now occupying 2,500 Sq. Ft.!

2.) 5870 East 12 Mile Road, Warren
Tenants: Sprint, Jimmy John's, and McDonald's (easement agreement)

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Oakland
Submarket/Township: Royal Oak Vicinity
Tax ID/APN: 25-13-104-008
Zoning: OFFICE
Property Located Between: Southwest quadrant of 12 Mile Road and Delton Street
Highway Access: Located half mile east of I-75
Total Number of Buildings: 2
Number of Stories: 2
Roof Type: Arched
Construction/Siding: Brick
Parking Type: Surface
Zoning Description: Office
Lot Frontage: 224
Lot Depth: 110
Water Service: Municipal
Sewer Type: Municipal
Legal Description: T1N, R11E, SEC 13 WILLSON LAWN SUB LOTS 149 TO 158 INCL, ALSO 1/2 VAC OSMUN AVE ADJ TO SAME, ALSO 1/2 VAC ALLEY ADJ TO SAME 1-11-05 FR 002 & 003

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 18,577 153,947 423,785
Median Age: 40.06 39.48 38.73
Households: 7,760 67,496 177,198
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