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 | |
Updated | September 19th, 2024 |
Type | Others |
Price | $900,000 |
Building | 5,936 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.