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1010 W North Down River Rd - Munson Grayling Surgical

5,936 SF Health Care Building Offered at £704,205 at a 8.10% Net Initial Yield in Grayling, MI 49738

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Executive Summary

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.

Property Facts

Price	£704,205	Building Size	5,936 SF
Price Per Bed	£44,013	No. Beds	16
Sale Type	Investment	Number of Floors	1
Net Initial Yield	8.10%	Year Built/Renovated	1971/2002
Property Type	Health Care	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Lot Size	1.50 AC

Price	£704,205
Price Per Bed	£44,013
Sale Type	Investment
Net Initial Yield	8.10%
Property Type	Health Care
Lot Size	1.50 AC
Building Size	5,936 SF
No. Beds	16
Number of Floors	1
Year Built/Renovated	1971/2002
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.