Medical Facility Anchored by Blue
For Sale
Contact for pricing
6240 Rashelle Dr, Flint, MI 48507
31,780 SF medical facility in Flint, Michigan for sale.
Property Size31,680 SF
Price / SF$220.96
Days on Market138
Property Features for 6240 Rashelle Dr
General Information
Standard status
Active
Size
31,680 SF
Class
A
Property subtype
Office
Occupancy
84%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$646,972
Building Details
Year Built
2005
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Zeustra Healthcare Real Estate Advisors
Listed By:
Ryan Lupo · License #NJ 2189708
Source:
Crexi
Added: Mar 27
Changed: Aug 11
Last Checked: Aug 11 at 9:46AM
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 Zeustra Healthcare Real Estate Advisors
Investment Insights
Based on property information with market context.
The property at 6240 Rashelle Drive in Flint, Michigan, is a 31,780-square-foot, purpose-built medical facility. It is anchored by Blue Cloud Pediatric Surgery Centers, an ambulatory surgery platform. The property serves Genesee County and the surrounding region, with access to major hospital systems and physician practices. The first floor is occupied by Blue Cloud Pediatric Surgery Centers, which operates the on-site ambulatory surgery center (ASC). The ASC features multiple procedure rooms, pre- and post-operative recovery areas, and clinical infrastructure constructed to modern surgical center standards. In 2024, Blue Cloud assumed long-term operations of the Center as part of a strategic regional expansion initiative. In addition to the anchor tenancy, the property is leased to a mix of established physician practices. The rent roll is NNN with annual escalations, and in-place rents remain below current market levels. The property benefits from proximity to leading hospital systems and physician referral networks. The property is positioned as a medical investment offering long-term income stability.
Key Highlights
- Long‑term triple‑net lease with Blue Cloud Pediatric Surgery Centers, providing durable cash flow.
- Purpose‑built, institutional‑grade medical facility (31,780 sq ft) constructed to modern surgical center standards.**
- Located in a densely populated and medically active region (Flint, Michigan).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$359,251
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,185,020
$7.2M
Cap Rate 7%
$5,132,157
$5.1M
Cap Rate 9%
$3,991,678
$4.0M
Market Conditions
NOI Build-Up for 31,680 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$684.3K $21.60/SF
− Vacancy
−$85.5K −$2.70/SF
EGI
$598.8K $18.90/SF
− OpEx
−$239.5K −$7.56/SF
NOI
$359.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,185,020
Cap Rate 7%
$5,132,157
Cap Rate 9%
$3,991,678
Alternative Uses
Best Use
Healthcare Medical
$5.13M
$4.49M – $5.99M
NOI $359,251 @ 7.0% cap · market cap 5.13%
Second Best
Office B
$4.99M
$4.36M – $5.82M
NOI $348,998 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$6.67M
$5.83M – $7.78M
NOI $466,642 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
187
Businesses Nearby
Explore this area
Business Placement
Demographics for 48507, MI
30,149
Population
13,923
Households
2.2
Avg Household Size
37
Median Age
15%
College-Educated
88%
High-School Grad
22.1 sq mi
ZIP Area
1,364
Density / Sq Mi
$47,165
Median Household Income
$31,346
Median Earnings
$923
Median Rent
$101,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - 31,780 SF medical facility in Flint, Michigan for sale.
Where is this medical center located?
The property is located at 6240 Rashelle Dr Flint, MI.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: Long‑term triple‑net lease with Blue Cloud Pediatric Surgery Centers, providing durable cash flow.; Purpose‑built, institutional‑grade medical facility (31,780 sq ft) constructed to modern surgical center standards.**; Located in a densely populated and medically active region (Flint, Michigan).
