1010 North Down River Rd, Grayling, MI 49738

5,936 SF Health Care Building Offered at $900,000 at a 8.10% Cap Rate in Grayling, MI 49738

Date Added:
September 16, 2024
Days on Market:
7 days

Asking Price $900,000

Property Type
Health Care
Square Feet
5,936 SF

Listing Contacts

Daniel Stiebel
Daniel Stiebel
Verified Profile
  • Property Info

Property Overview

Great investment opportunity for this medical office building leased to Munson Hospital. Munson recently signed a 5-year renewal giving an investor the opportunity for an 8.1% cap rate. Building is in good condition with a new roof in 2022. In addition to the 5,936 SF of first floor medical space there is a full basement with an additional 2,000 SF of finished space. The building sits on a lot that encompasses an entire city block from with frontage on North Down River, Rose, Erie & Vine. There is a huge parking lot and the lot is large enough to support building additional buildings.

Property Details

Year Built/Renovated
1971/2002
Stories
1
Lot Size (sq. ft)
65,340 SF
Units
16

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