Refresh Dental - Dental Care of MI
- Price: $692,000
- Cap Rate: 9.07%
- Years Remaining: 9
- Rentable Area: 5,800 SF
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Refresh Dental - Dental Care of Michigan
Mt Clemens
Investment Highlights
- Sales Price: $692,000
- Cap Rate: 9.07%
- Years Remaining: 9
- Lot Size: 0.42 Acres
- Market: Mt Clemens, Michigan
Contact Broker
Brian Wine
Description
The Wine Group is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a NN leased, freestanding, medical investment property located in Mt. Clemens, Michigan. The subject property has two medical tenants consisting of Dental Care of Michigan and Associates in Psychology,. Dental Care of Michigan also known as Refresh Dental has over 9 years remaining on their lease and Associates in Psychology is currently month to month. The dentist reimburses all expenses 50% for their prorata share of the property. Dental Care’s lease has 2.50% annual increases throughout their initial term of their lease which steadily gross the NOI and hedging against inflation.
Location
The subject property is strategically located on Southbound Gratiot Avenue and has superior visibility with significant street frontage. It is located in Mount Clemens area with other retailers such as CVS, Huntington Bank, Buffalo Wild Wings, Tim Hortons, McDonald’s, Subway, Walgreens, Coldstone, AMC Movie Theaters, Lowes, and several others. The location benefits from the frequent street traffic on Southbound Gratiot Avenue, which sees 12,894 vehicles daily. The 5-mile trade area is supported by a population of 206,064 and 81,442 daytime employees with an average household income of $82,906.
