2117 Grand River AveLansing, MI 48912

For Sale
$1,017,248

High-yield medical office, 8.75% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
93
This Lansing, MI medical office building presents a compelling investment opportunity. Located at 2117 E Grand River Ave, 48912, this 4,400 square foot Class B property is currently 100% occupied by Clarkson Eyecare, a large, multi-unit operator with over 230 locations across 10 states. Built in 1998 (renovated from a 1957 building), the property features a net lease with a corporate guarantee, offering significant security and stability. The current asking price is $1,017,248, translating to $231.19 per square foot. The lease includes a 3% annual rent increase, providing a strong hedge against inflation and ensuring consistent income growth. This investment offers an attractive 8.75% cap rate in the first year, making it an ideal addition to any portfolio seeking strong returns in a recession-resistant sector. The optometry market is robust, projected for significant growth in the coming years. This single-tenant, gross lease property provides a low-management, high-return investment opportunity. The property is situated in Ingham County, Michigan.

Highlights

  • $1,017,248 asking price for a 4,400 SF medical office building in Lansing, MI.
  • Net lease investment opportunity with a corporate guarantee from Clarkson Eyecare, a multi-unit operator with 230+ locations.
  • 8.75% cap rate with a 3% annual rent increase, providing inflation protection.
  • 100% occupancy in a Class B building, built in 1998 (renovated).
  • $231.19 price per square foot.

Property Details for 2117 Grand River Ave

Property type
Other office properties, Medical offices
Square Feet
4,400 SF
Class
B
Year Built
1998

Location Insight

City
Lansing
County
Ingham
State
Michigan
Latitude
42.7436553
Longitude
-84.5203647
2117 Grand River Ave, Lansing, Michigan

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2117 Grand River Ave
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