$1,050,000
$1,425,000
26.3%For more information regarding the value of a property, please contact us for a free consultation.
8,573 SqFt
SOLD DATE : 05/30/2024
Key Details
Sold Price $1,050,000
Property Type Commercial
Sub Type Real Estate Only
Listing Status Sold
Purchase Type For Sale
Square Footage 8,573 sqft
Price per Sqft $122
MLS Listing ID 20240018968
Sold Date 05/30/24
Originating Board Realcomp II Ltd
Year Built 1990
Annual Tax Amount $23,428
Lot Size 0.830 Acres
Acres 0.83
Lot Dimensions 197 X 253 x 211 x 311
Property Description
Excellent investment opportunity with this beautiful 8,573 sq ft building with fantastic curb appeal & park-like setting. Maximum exposure & monument signage on Milford Rd just minutes from downtown Milford. The entire lower floor is occupied by a DMC OB/GYN office with a new 5 year lease in place (expiring 5/2028). Along with this new lease, the DMC made a $150k investment promise to renovate their space (building owner will have final say & plan approval & should be soon).
The upper floor is 25% occupied with a new 5 year NNN lease for $1295/mo (ramps up to $1595/mo in years 4 & 5)
Land Contract terms are negotiable. Other 3 lease spaces are currently advertised on the MLS. Much more potential for additional income (10.7% cap rate)
This building is very well-maintained with many updates...new parking lot in July 2023, newer furnaces and A/C units, new LED lights in parking lot as well as throughout building.
Add this building to your portfolio with pride!
Location
State MI
County Oakland
Area Milford Vlg
Zoning Commercial,Office
Direction M-59 to Milford Road, head South on N. Milford Rd & building will be on the right
Interior
Hot Water Natural Gas
Heating Forced Air
Exterior
Pool No
Utilities Available Elevator, Employee Lunch/Lounge, Intercomm, Security Alarm, Smoke Alarm
Waterfront no
Roof Type Asphalt
Road Frontage Paved
Building
Foundation Basement
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Level or Stories 2 Story
Structure Type Brick
Schools
School District Huron Valley
Others
Tax ID 1603401003
Ownership Short Sale - No,Private Owned
Acceptable Financing Cash, Contract, Conventional
Listing Terms Cash, Contract, Conventional
Financing Cash,Contract,Conventional
Special Listing Condition Full Service
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Bought with Real Estate One
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