1301-1307 S Main St - Office FOR SALE


Chelsea, MI 48118
$2,350,000 USD
734-649-5064
1301-1307 S Main St, Chelsea, MI for Sale
$2,350,000 USD
Office - FOR SALE
1/12
null | 8.05% Cap Rate

1301-1307 S Main St
Chelsea, MI 48118


HIGHLIGHTS

  • Exceptionally maintained, street level, Class A, suburban medical office.
  • 100% occupied to a mix of medical, dental, and financial services tenants.
  • Proximity to Chelsea Hospital and Silver Maples retirement community.
  • Anchored by primary tenant, Chelsea Urgent Care.
  • Increased traffic (15,000 VPD) from neighboring Polly's Country Market (predominant local grocer).
  • Affluent demographics and exceptionally rated schools. Bedroom community of Ann Arbor.

OVERVIEW

1301-1307 S. Main St. Chelsea, MI 48118 is a multi-tenant medical office complex. Built in 2005, the property is comprised of four buildings totaling 14,000 square feet of medical office space on 3.29 acres. The property is located in Chelsea, MI, a highly desirable bedroom community 15 miles west of Ann Arbor, with highway connectivity to Ann Arbor and Detroit via I-94. Nearby Chelsea Hospital and retirement communities, the property is well situated for medical office tenants. Owned by the original builder, this is the first time the property has been brought to market. The property is in exceptional condition. The property is 100% occupied by a strong mix of seven tenants offering medical, dental, and financial services. The property has excellent visibility from Main Street (M-52), anchored by Chelsea Urgent Care with 10 years remaining on the lease term. With staggered lease expirations, the property provides an excellent blend of predictable cashflow as well as leasing upside over the hold period. Below-market rents, excellent basis, and strong current income forecasts a stable investment with significant upside to investors.

FOR SALE DETAILS

PRICE

$2,350,000 USD

PRICE/SF

$168 USD /SF

CAP RATE

8.05%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pierce Lake Professional Center

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

A

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Dan Stewart, CCIMSVN | Stewart Commercial GroupMore Info
734-649-5064

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Dan Stewart, CCIMSVN | Stewart Commercial GroupMore Info
734-649-5064

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.