1010 W North Down River Road Active Save Request In-Person Tour Request Virtual Tour
Grayling,MI 49738
Key Details
Property Type Commercial
Sub Type Income
Listing Status Active
Purchase Type For Sale
Square Footage 5,936 sqft
Price per Sqft $151
Subdivision Mi
MLS Listing ID 1923947
Year Built 1971
Lot Size 1.500 Acres
Acres 1.5
Lot Dimensions 220'x200'x240'x360'x70'
Property Sub-Type Income
Property Description
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.
Location
State MI
County Crawford
Zoning Office,Commercial
Rooms
Basement Full,Poured Concrete,Finished Rooms
Interior
Heating Forced Air,Central Air,Zoned/Dual
Cooling Forced Air,Central Air,Zoned/Dual
Exterior
Exterior Feature Brick
Roof Type Membrane
Present Use Medical/Dental,Office Building
Road Frontage Public Maintained,Blacktop
Building
Sewer Municipal
Water Municipal Water
Others
Tax ID 070-200-009-001-00
Ownership Private Owner
Acceptable Financing Commercial Loan,Cash,1031 Exchange
Listing Terms Commercial Loan,Cash,1031 Exchange