Catylist ID:
#30829426
Fully Leased Investment Office Property for Sale in Grass Lake
Office
for Sale
| Catylist Listing ID: | 30829426 |
| Property Subtypes: | Medical, Net Leased, Office Building |
| Building Size (RSF): | 9,792 SF |
| Gross Land Area: | 2.60 Acres |
| Sale Price: | $1,795,000 |
| Unit Price: | $183.31 PSF |
| Ceiling: | 26 ft. |
| Property Use Type: | Net Leased Investment (NNN), Investment |
| Building Name: | Grass Lake Professional Center |
| Class of Space: | Class A |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Average Occupancy Rate: | 100 |
| Last Updated: | 9/28/2023 |
Overview / Comments
|
Fully leased Class A professional building for sale. Built in 2007 featuring brick construction and a soaring 26' ceiling in the medical unit. Ample surface parking on both sides of the property. Tenants include Henry Ford Medical since 2007, Edward Jones since 2016 and Pediatric Dentist/Orthodontist since 2022. Henry Ford Health Systems is ranked the second largest hospital system in the state of Michigan and their rent increases annually in February based on CPI. All leases are NNN. Contact agent for 2023 projected proforma, leases, floorplans. Confidentiality agreement required. |
Attachments & Media
Financials
| Finance Data Year | 2022 |
|---|---|
| Real Estate Taxes - Annual($) | $26,673 (Annual) |
| Tax Value Land | $506,200 |
| Assessed Value - Total($) | $506,200 (Annual) |
| Actual or Proforma Year | Actual |
Current Tenants
| Tenant Business Name | Henry Ford Medical |
| Tenant Business Name | Edward Jones |
| Tenant Business Name | Pediatric Dentist/Orthodontist |
Additional Details
| Nearest MSA: | Jackson |
| County: | Jackson |
| Taxing Authority: | Grass Lake Charter Township |
| Tax ID/APN: | 000-10-34-376-001-04 |
| Zoning: | GC, GENERAL COMMERCIAL |
| Property Located Between: | Maute and Sarossy Lake Roads |
| Property Visibility: | Excellent |
| Highway Access: | I-94 and US-127 |
| Airports: | DTW, Jackson |
| Area Description: | Located in eastern Jackson County within Grass lake Township, the Village of Grass Lake is surrounded by Leoni Township to the west, Waterloo Township to the north, Norvell Township to the south, Napoleon Township to the southwest, and Washtenaw County to the east. Grass Lake Village lies 2.6 miles south of I-94, which leads to points east and west and provides access to routes which provide north and south access. The Village’s main street, Michigan Avenue, is an important county road that provides access to nearby Jackson and environs. While to some degree the Village is self-sufficient, many residents commute to neighboring urban areas for employment, shopping, and cultural activities. Grass Lake residents enjoy the small town feel while being located conveniently in the middle of the Jackson - Chelsea - Manchester geographical triangle of Southeast Michigan. |
| Total Number of Buildings: | 1 |
| Number of Stories: | 2 |
| Typical SF / Floor: | 4,650 SF |
| Year Built: | 2007 |
| Year Renovated: | 2022 |
| Construction/Siding: | Brick |
| Parking Type: | Surface |
| Parking Description: | Ample surface parking. |
| Total Parking Spaces: | 70 |
| Sprinklers: | Wet, Dry |
| Heat Type: | Natural Gas |
| Heat Source: | Central |
| Air Conditioning: | Engineered System |
| Internet Access: | Cable, DSL |
| Zoning Description: | GC – General Commercial This District is intended for commercial development of a general nature near areas where greater concentrations of residential development occur. The designated areas are intended to provide locations for commercial development that might otherwise not be able to locate on the smaller properties within the Village. The General Commercial District Chapter 3 Community Policies and Plans 43 is distinguished from the Highway Commercial District by relying less on auto dependent businesses and providing more services related to township and area residents. Development within the General Commercial District will be planned with specific consideration of such factors as compatibility with surrounding existing and planned land use; traffic safety and convenience; shared driveways and parking areas; consistent site elements, such as signs, landscaping and lighting; roadway improvements, including such elements as turning and deceleration lanes; and other factors that are consistent with the neighborhood and rural character. |
| Water Service: | Well |
| Sewer Type: | Septic |
| Legal Description: | BEG AT S 1/4 POST OF SEC 34 TH S89°25'10"W 1772.81 FT TH N0°01'02"E 1516.71 FT TO POB TH CONTN N0°01'02"E 567.12 FT TH N80°42'43"E 200 FT ALG CL OF MICHIGAN AVE TH S0°01'02"W 567.12 FT TH S80°42'43"W 200 FT TO BEG. SEC 34 T2S R2E 2.60A. SPLIT ON 07/06/2006 FROM 000-10-34-376-001-01; |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 2,486 | 4,184 | 8,588 |
| Median Age: | 37.7 | 39.13 | 41.26 |
| Households: | 927 | 1,580 | 3,300 |
| The information presented herein is provided as is, without warranty of any kind. Neither Commercial Property Information Exchange (CPIX) nor Moody's assume any liability for errors or omissions. |
