13260 11 Mile RdWarren, MI 48089

For Sale
$1,455,882

8,250 SF Medical Office, 8.5% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
94
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.

Highlights

  • 8,250 SF medical office building on a 1.32-acre lot in Warren, MI.
  • 100% occupied by the American Red Cross under a NNN lease with 4.2 years remaining (expiring 1/31/2029), including annual rent increases and two 5-year renewal options.
  • Strong NOI of $123,750, resulting in an 8.5% cap rate and a price per square foot of $176.47.
  • Asking price: $1,455,882.
  • Located near I-696 in Macomb County, MI; APN 12-13-23-226-010.

Property Details for 13260 11 Mile Rd

Property type
Other office properties, Medical offices
Square Feet
8,250 SF
Year Built/Renovated
1990/2018
Lot Size (sq. ft)
57,499 SF

Location Insight

City
Warren
County
Macomb
State
Michigan
Latitude
42.49163973991
Longitude
-82.990744815976
13260 11 Mile Rd, Warren, Michigan

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13260 11 Mile Rd
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