1010 W North Down River Road

Grayling, MI

Others for Sale - $900,000 - 5,936 Sq. Ft.


Agent Info

Dan Stiebel
Coldwell Banker Schmidt

Property Info

CIMLS#1162163
Location
  1010 W North Down River Road
  Grayling MI 49738
UpdatedSeptember 19th, 2024
TypeOthers
Price$900,000
Building5,936 Sq. Ft.

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.


Financials


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