Two-Story Medical Spa
For Sale
$1,975,000
116 Mill Street, Fenton, MI 48430
Two-story med-spa building in downtown Fenton with adjacent municipal parking.
Property Size5,632 SF
Days on Market159
Property Features for 116 Mill Street
General Information
Standard status
Active
Size
5,632 SF
Property subtype
Retail
Building Details
Building Size
5,632 SF
Year Built
2018
Stories
2
Listing Agency:
Thomas A. Duke Company
Listed By:
Ethan Whitesell · License #6501464548
(248) 476-3700
Source:
Thomasduke
Added: May 7
Changed: Oct 10
Last Checked: Oct 11 at 3:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Thomas A. Duke Company
Investment Insights
Based on property information with market context.
This two-story medical spa building is offered for sale and features high-end finishes and distinctive architecture. The property is configured as a med-spa facility and is currently associated with a med-spa tenant operating 20 locations.
The building is located in downtown Fenton, with additional municipal parking adjacent to the property.
As a multi-story healthcare-focused asset, the space is designed to support a medical spa environment with the improvements already in place.
The building is located in downtown Fenton, with additional municipal parking adjacent to the property.
As a multi-story healthcare-focused asset, the space is designed to support a medical spa environment with the improvements already in place.
Key Highlights
- Two‑story med‑spa building in Downtown Fenton
- Med‑spa tenant in place with a reported 20 locations
- Additional municipal parking adjacent to the building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,867
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,277,340
$1.3M
Cap Rate 7%
$912,386
$912.4K
Cap Rate 9%
$709,633
$709.6K
Market Conditions
NOI Build-Up for 5,632 SF
Gross rent
$121.7K $21.60/SF
− Vacancy
−$15.2K −$2.70/SF
EGI
$106.4K $18.90/SF
− OpEx
−$42.6K −$7.56/SF
NOI
$63.9K $11.34/SF
Area
Genesee County, MI
Vacancy
12.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,277,340
Cap Rate 7%
$912,386
Cap Rate 9%
$709,633
Alternative Uses
Best Use
Healthcare Medical
$912.4K
$798.3K – $1.06M
NOI $63,867 @ 7.0% cap · market cap 3.23%
Second Best
Office B
$886.3K
$775.6K – $1.03M
NOI $62,044 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$1.19M
$1.04M – $1.38M
NOI $82,959 @ 7.0% cap · market cap 4.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
601
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48430, MI
39,594
Population
16,163
Households
2.4
Avg Household Size
42
Median Age
38%
College-Educated
96%
High-School Grad
83.2 sq mi
ZIP Area
476
Density / Sq Mi
$99,755
Median Household Income
$53,447
Median Earnings
$1,382
Median Rent
$308,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Similar Off Market Nearby
- Ivy Rehab Physical Therapy — 400 Rounds Dr, Fenton, MI 48430
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- Alive & Well Fenton — 202 W Shiawassee Ave suite 110, Fenton, MI 48430
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Two-story med-spa building in downtown Fenton with adjacent municipal parking.
Where is this spa & wellness property located?
The property is located at 116 Mill Street Fenton, MI.
What is the asking price?
The asking price for this property is $1,975,000.
What are key features of this property?
This property features: Two‑story med‑spa building in Downtown Fenton; Med‑spa tenant in place with a reported 20 locations; Additional municipal parking adjacent to the building
