MEDICAL OFFICE BLDG WITH DEVELOPMENT SITE | 2488 Golfside Dr
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MEDICAL OFFICE BLDG WITH DEVELOPMENT SITE 2488 Golfside Dr
4,500 SF Office Building Ypsilanti, MI 48197 $1,417,470 CAD ($315 CAD/SF) 6% Cap Rate
Investment Highlights
- EXISTING CASH-FLOW WITH EXISTING OFFICE BUILDING
- ANN ARBOR ADDRESS AND SERVICES W/ PITTSFIELD TOWNSHIP TAXES
- DEVELOPMENT POTENTIAL ON ALL OR A PORTION OF THE ENTIRE SITE
Executive Summary
RECENTLY REMODELED 4500 SF MEDICAL OFFICE BUILDING 1/4 MILE FROM ST JOE HOSPITAL BETWEEN .91 to 3.91 ACRES OF LAND AVAILABLE SITE-PLANNED FOR AN ADDITIONAL 13,000 SF MEDICAL OFFICE BUILDING, OR MIXED-USE DEVELOPMENT PROJECT.
PERFECT FOR PHYSICIAN, DENTAL OR OTHER PROFESSIONAL GROUP.
SELLER IS WILLING TO SELL OFFICE BUILDING WITH .91 ACRES & THE 3-ACRE DEVELOPMENT SITE SEPARATELY
PERFECT FOR PHYSICIAN, DENTAL OR OTHER PROFESSIONAL GROUP.
SELLER IS WILLING TO SELL OFFICE BUILDING WITH .91 ACRES & THE 3-ACRE DEVELOPMENT SITE SEPARATELY
Financial Summary (Pro forma - 2022) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$85,048
|
$18.90
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$85,048
|
$18.90
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro forma - 2022)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $85,048 |
| Annual Per SF | $18.90 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $85,048 |
| Annual Per SF | $18.90 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Office
Property Subtype
Building Size
4,500 SF
Building Class
B
Year Built/Renovated
1929/2006
Price
$1,417,470 CAD
Price Per SF
$315 CAD
Cap Rate
6%
NOI
$85,048 CAD
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
2,250 SF
Slab To Slab
9’
Building FAR
0.11
Land Acres
0.91 AC
Opportunity Zone
Yes
Zoning
O1
Parking
14 Spaces (3.11 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Conferencing Facility
- Courtyard
- Kitchen
- Basement
- Central Heating
- High Ceilings
- Partitioned Offices
- Shower Facilities
- Hardwood Floors
- Air Conditioning
About 2488 Golfside Dr , Ypsilanti, MI 48197
BEAUTIFUL LEGACY HOME DESIGNED BY RENOWNED ARCHITECT R.S. GERANOFF EXTENSIVELY REMODELED AND CONVERTED TO MEDICAL OFFICE BUILDING - PROPERTY CONSISTS OF FOUR CONTIGUOUS PARCELS WHICH COULD BE SOLD INDIVIDUALLY OR REDEVELOPED AS OFFICE - RETAIL - MULTI FAMILY OR MIXED-USE PROJECT PARCEL IS DIRECTLY IN THE PATH OF THE WASHTENAW AVENUE COMMERCIAL EXPANSION MIGRATION PATTERN BEST OF BOTH WORLDS: PROPERTY HAS AN ANN ARBOR PROPERTY ADDRESS & SERVICES BUT WITH MORE MODEST PITTSFIELD TWP R/E TAXES
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- TBD
- -
- -
- -
- Jun 2027
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| TBD | - | - | - | Jun 2027 |
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
EXTENSIVELY REMODELED OFFICE PROPERTY PREVIOUS USES: MEDICAL & PSYCHOLOGY CLINICS NEARBY SHOPPING: ARBORLAND MALL / KROGER / NORDSTROM / BED BATH & BEYOND / MARSHALS / DSW / OFFICE DEPOT / PETCO / WHOLE FOODS / PANERA / WALGREENS / LULULEMON / ANTHROPOLOGY
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 1,000-4,500 SF | Office/Medical | Full Build-Out | 30 Days |
1st Floor
| Size |
| 1,000-4,500 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| 30 Days |
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1st Floor
| Size | 1,000-4,500 SF |
| Space Use | Office/Medical |
| Condition | Full Build-Out |
| Available | 30 Days |
EXTENSIVELY REMODELED OFFICE PROPERTY PREVIOUS USES: MEDICAL & PSYCHOLOGY CLINICS NEARBY SHOPPING: ARBORLAND MALL / KROGER / NORDSTROM / BED BATH & BEYOND / MARSHALS / DSW / OFFICE DEPOT / PETCO / WHOLE FOODS / PANERA / WALGREENS / LULULEMON / ANTHROPOLOGY
PROPERTY TAXES
| Parcel Number | 12-01-401-021 | Improvements Assessment | $0 CAD (2024) |
| Land Assessment | $0 CAD (2024) | Total Assessment | $574,282 CAD (2024) |
PROPERTY TAXES
Parcel Number
12-01-401-021
Land Assessment
$0 CAD (2024)
Improvements Assessment
$0 CAD (2024)
Total Assessment
$574,282 CAD (2024)
-
William Eddy -
General Equity Group/Place Properties
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MEDICAL OFFICE BLDG WITH DEVELOPMENT SITE | 2488 Golfside Dr
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