13260 11 Mile RdWarren, MI 48089

Property Details for 13260 11 Mile Rd

Year built

1990

Lot size

1.32 AC

Property size (Sq ft)

9,355 SF

Zone code

C-1

Property type

Office properties

Property subtype

Office buildings

APN

12-13-23-226-010

APU

121323226010

Description

Exceptional investment opportunity in Warren, Michigan, featuring a 8,250 square foot medical office building situated on a 1.32-acre lot. This property is currently 100% occupied by the American Red Cross under a Net Lease agreement (NNN) with a remaining lease term of 4.2 years, expiring January 31, 2029. The lease commenced January 1, 2024, and includes annual rent increases and two five-year renewal options. Built in 1990 and renovated in 2018, the building is zoned C-1 and offers a high-volume blood draw center and CPR/First Aid/AED training facilities. The property boasts a strong NOI of $123,750, resulting in an attractive 8.5% cap rate and a price per square foot of $176.47. The asking price is $1,455,882. Conveniently located near I-696, this investment offers a stable, recession-resistant income stream with a long-term, creditworthy tenant. The property's location in Macomb County, Michigan, further enhances its appeal. The APN is 12-13-23-226-010.

• CAP approach

  CAP return

  Valuation

  6%

  $1,945,703

  6.5%

  $1,796,034

  7%

  $1,667,746

• Comparable approach

  Method

  Valuation

  Relative Method

  $875,067

  Geo Method

  $875,067

• Alternative Use

  Use

  Valuation

  Residential

  $2,227,082

  Hospitality

  $2,039,995

  Educational

  $1,697,252

  Medical

  $1,755,623

  Retail

  $2,640,170

Location Insight

City

Warren

County

Macomb

State

Michigan

Latitude

42.4913

Longitude

-82.9905

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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