400 Main StOnsted, MI 49265

Property Details for 400 Main St

Lot size

1.84 AC

Property size (Sq ft)

5,998 SF

Zone code

IN

Property type

Commercial real estate

APN

CA8-300-0191-00

APU

CA8300019100

Description

This exceptional 5,837 square foot medical office building, located at 400 N Main St, Onsted, MI 49265, presents a compelling investment opportunity. Built in 2001 and renovated in 2015, the property sits on a 1.84-acre lot and boasts 100% occupancy with two tenants under a multi-tenant lease with four years remaining. The building offers a stabilized investment profile with a value-add potential, generating a strong net operating income (NOI) of $84,995 and an 8.50% cap rate. The asking price is $1,000,000, translating to $171.32 per square foot. The property benefits from its prime location in a high-traffic area with excellent visibility and convenient access to major roads. Its tenant is a high-credit healthcare provider, ensuring a stable income stream and minimizing the risk of tenant turnover. The property's location in a thriving community, close to residential areas and commercial establishments, further enhances its long-term value and appeal. The essential nature of healthcare services makes this a recession-proof asset with consistent returns, providing a secure and profitable investment for years to come. This is a single-building property.

• Alternative Use

  Use

  Valuation

  Residential

  $1,175,274

  Hospitality

  $1,076,545

  Educational

  $895,673

  Medical

  $926,476

  Retail

  $1,393,269

Location Insight

City

Onsted

County

Lenawee

State

Michigan

Latitude

42.0124

Longitude

-84.1904

CBSA code

10300

CBSA name

ADRIAN, MI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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