CSL Plasma | Medical Office Building | FOR SALE
$1,630,000
1040 East Hill Road, Grand Blanc Township, MI 48439
For Sale
Office
Medical
Active
Last Updated: 09/24/2024
6.21
Cap Rate
101,255
NOI
Details:
Cap Rate: 6.21%
NOI: $101,255
Building Size: 9,205 sqft
Lot Area: 1.16 acres
Year Built: 1984
Year Last Renovated: 2018
Highlights:
- Newly renovated facility: Renovated in 2018/2019, new roof with 20-year transferable warranty
- Aggressive rental increases: 10% rent increases every 5 years during base term
- Minimal landlord responsibilities: Primarily roof (new in 2018) and structure
- Tenant reimburses for all operating expenses including up to a 4% management fee ($3,682)
- Strong location: 4.9/5 stars Google reviews, & 80th percentile nationwide placer AI
- Strong visibility & accessibility: Ideally situated along Hill Rd between I-475 exit ramps (0.2-mi east) and 1-75 exit ramps (1.6 mi west) and strong traffic counts: 40,000 at the intersection of Hill Rd. And Fenton Rd
- Strategic site selection: In Proximity to Michigan State University, Ferris State University, Kettering University, Mott Community College, Westmoreland Community College, and more.
- Strong retail corridor: Tenants in the immediate vicinity include Rite Aid, Starbucks, Taco Bell, McDonald’s, Arby’s, Burger King, Home Depot, Wendy’s, Huntington Bank, Kroger and More
- Strong demographics: 39,928 residents within 3-mile & 94,933 within 5-mile, AHHI of $73,164 within 1-mile
- Flint MSA: 4th largest metro in Michigan with a population of over 400,000.
Documents:
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Offering Memorandum
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