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Jim Willis

jwillis@millerteamrealtors.com +1(810) 201-6924

$1,500,000

Est. payment - /mo

6 Baths

5,762 SqFt

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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 5,762 sqft

Price per Sqft $260

MLS Listing ID 53026040268

Year Built 1964

Lot Size 1.210 Acres

Acres 1.21

Property Description

Established rental income. Significant improvements already completed. Dedicated parking for patients, clients, and staff. 2532 Spring Arbor Road offers an opportunity to acquire an extensively renovated medical and professional office property with existing triple-net leases and additional space available for income growth or owner occupancy. Situated on approximately 1.21 acres, the property combines a multi-suite layout with substantial private parking and direct access from Spring Arbor Road. Approximately $420,000 has been invested in renovations creating a largely move-in ready professional environment. The expansive on-site parking lot provides dedicated parking. Existing leases provide a 5.9% CAP rate with a projected 8.1% CAP rate at full capacity. The approximately $172,000 in Brownfield benefits add additional value not included in these calculations. Buyer to verify terms & transferability of Brownfield benefit with Summit Twp. Zoned O-1. See attached for more detail.

Location

State MI

County Jackson

Area Area12131Summittwp

Rooms

Basement Full, Walk Out Access

Interior

Heating Forced Air, Natural Gas

Cooling Central Air

Fireplace No

Exterior

Parking Features Asphalt

Utilities Available CableConnected, ElectricityConnected, NaturalGasConnected, PhoneAvailable, PhoneConnected

View Y/N No

Roof Type Rubber

Building

Foundation Basement

Sewer Public Sewer, Storm Drain

Water Public

New Construction No

Schools

School District Jackson

Others

Ownership LLC

Acceptable Financing Cash, Conventional, Lease

Listing Terms Cash, Conventional, Lease

Virtual Tour https://vimeo.com/1215294023?share=copy&fl=sv&fe=ci

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Listed by Timothy Groves of Coldwell Banker Groves Real Estate

Nearby School & Business

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Jim Willis

+1(810) 201-6924

Agent Brerms:274322

2532 Spring Arbor RD Summit Twp, MI 49203

Jim Willis

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

Nearby School & Business

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