Medical/Dental Office Investment
For Sale
Contact for pricing
770 Riverside, Adrian, MI 49221
Two-story medical/dental office building with established tenants and high occupancy.
Property Size2,628 SF
Lot Size1.32 Acres
Price / SF$0.57
Days on Market212
Property Features for 770 Riverside
General Information
Standard status
Active
Size
2,628 SF
Total Parking Spaces
104
Lot size
1.32 Acres
Property subtype
Office
Zoning
OS-1 (Office Service District)
Lease Term
Includes Utilities
Properties For Sale
at 770 Riverside Contact us105 - First Floor
Size
2,103 SF
Type
Medical
Term
Negotiable
106 - First Floor
Size
1,406 SF
Type
Medical
Term
Negotiable
17 - Lower Level
Size
1,347 SF
Type
Medical
Term
Negotiable
200 - 2nd Floor
Size
1,516 SF
Type
Dental Office
Term
Negotiable
Listing Agency:
Swisher Commercial
Listed By:
Bart Wise · License #MI #6502101921
(734) 358-0354
Source:
Swishercommercial
Added: Mar 27
Changed: Oct 19
Last Checked: Oct 24 at 1:43PM
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 Swisher Commercial
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Investment Insights
Based on property information with market context.
This medical/dental/professional office property offers a substantial investment opportunity. The two-story building provides 18,040 square feet of space, complemented by an additional 6,071 square feet of usable basement space, situated on a 1.32-acre site. The property is zoned specifically for office use. Over 100 parking spaces are available. The building is designed for medical and dental use, featuring an accessible and fully finished basement with elevator service. Tenants include Promedica and the Veterans Administration, with many having occupied the building for over ten years. The property has a history of high occupancy. Detailed financials are available to qualified buyers.
Key Highlights
- High occupancy rates with established tenants, including Promedica and the Veterans Administration, many with tenures exceeding ten years, indicating financial stability.
- Dedicated medical and dental office building with office‑specific zoning.
- Expansive 18,040 sq ft two‑story building with an additional 6,071 sq ft of usable, fully finished basement space accessible by elevator.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,951
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,020
$579.0K
Cap Rate 7%
$413,586
$413.6K
Cap Rate 9%
$321,678
$321.7K
Market Conditions
NOI Build-Up for 2,628 SF
Gross rent
$44.8K $17.04/SF
− Vacancy
−$6.2K −$2.35/SF
EGI
$38.6K $14.69/SF
− OpEx
−$9.7K −$3.67/SF
NOI
$29.0K $11.02/SF
Area
Lenawee County, MI
Vacancy
13.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,020
Cap Rate 7%
$413,586
Cap Rate 9%
$321,678
Alternative Uses
Best Use
Healthcare Medical
$447.6K
$391.6K – $522.2K
NOI $31,329 @ 7.0% cap · market cap 2,088.60%
Second Best
Office B
$413.6K
$361.9K – $482.5K
NOI $28,951 @ 7.0% cap · market cap 1,930.07%
Theoretical Best
Multifamily LT 5
$32.61M
$28.53M – $38.04M
NOI $2,282,367 @ 7.0% cap · market cap 152,157.80%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49221, MI
41,315
Population
17,011
Households
2.4
Avg Household Size
39
Median Age
22%
College-Educated
88%
High-School Grad
119.9 sq mi
ZIP Area
345
Density / Sq Mi
$57,316
Median Household Income
$32,289
Median Earnings
$986
Median Rent
$158,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-story medical/dental office building with established tenants and high occupancy.
Where is this medical office space located?
The property is located at 770 Riverside Adrian, MI.
What are key features of this property?
This property features: High occupancy rates with established tenants, including Promedica and the Veterans Administration, many with tenures exceeding ten years, indicating financial stability.; Dedicated medical and dental office building with office‑specific zoning.; Expansive 18,040 sq ft two‑story building with an additional 6,071 sq ft of usable, fully finished basement space accessible by elevator.
