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21230948
21230949

211 S Crapo St, Mount Pleasant, MI 48858

JF
IL 475169452
Matthews
Listed by Matthews
$999,845
507 days on market
Updated 23 days ago

211 S CRAPO MEDICAL SUITES

Details
Property Type Office
Sub Type Medical Office
Square Footage 19,924
Net Rentable (SqFt) 19,924
Cap Rate 9.34%
NOI $93,303
Occupancy 75%
Year Built 1977
Acreage 1.920

Immediate Rental Upside

Investment highlights

  • Immediate Rental Upside: The property offers significant potential for rent increases, as current rents are below market rates. This presents an opportunity to capture higher income through lease renewals or new tenant negotiations.

  • Stable and Predictable Cash Flow: With NNN leases, tenants are responsible for paying property taxes, insurance, and maintenance costs in addition to base rent. This creates a predictable and stable cash flow for the property owner with minimal operational involvement.

  • Minimal Vacancy Risk: Medical tenants are less likely to vacate compared to other types of tenants due to the specialized nature of their spaces and the significant capital investment required to set up medical practices. This results in lower vacancy risk.

  • Reduced Vacancy Risk: Staggered leases ensure that not all tenants renew or vacate at the same time, which helps reduce the risk of significant vacancy loss. This spread-out lease expiration schedule provides steady occupancy and more consistent cash flow.

Listing Contacts

JF
IL 475169452
Matthews
Listed by Matthews

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$93,303.00
$7,775.25/mo

Valuation Metrics

0
DSCR
9.33%
Cap Rate
9.33%
ROI

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Additional Information

Name
Matt Fitzgerald
License
6505432273 (MI)
Brokerage
Matthews Real Estate Investment Services, Inc
Brokerage Phone
(866) 889-0550
Title
Broker of Record
Brokerage Address
1600 West End, Ste. 1500 Nashville, TN 37203
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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