INVESTMENT PACKAGE FOR SALE

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.

*PROPERTIES SOLD AS A PACKAGE ONLY*
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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