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!
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0BEDS
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0.83ACRES
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0BATHS
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01/2 BATHS
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8,573SQFT
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$0$/SQFT
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!
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IDX provided courtesy of Realcomp II Ltd., via Wilhelm & Associates: (248) 625-9500 and Realcomp, ©2024 Realcomp II Ltd. Shareholders.