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    6309 Mack Ave Detroit, MI 48207

    Sponsored
    For Sale
    $14,499,000

    High-yield medical office, 15-year leaseback

    Property size:
    61,622 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Exceptional investment opportunity: $14,499,000 asking price for this 61,622 square foot medical office complex in Detroit, MI. The property consists of five buildings, four stories each, situated on a 3.9-acre lot. Built between 1940 and 2023, with extensive renovations completed between 2020 and 2023 and ongoing, the property boasts modern facilities including new HVAC units and a new roof. The property is zoned commercial and features ample private parking. A 15-year triple-net (NNN) leaseback is offered at $20 per square foot, with 15% rent increases in years 6-10 and 11-15. The current tenant, a credit-rated, established medical provider, is the largest mental health care provider in Wayne County, serving over 4,000 patients weekly. The property offers significant potential for future expansion given the available land. The strong NOI of $1,232,440 and a cap rate of 8.50% make this a compelling investment. The lease commenced January 1, 2024, and expires December 31, 2039. The property's prime location in Detroit, MI, at 6309 Mack Ave, 48207, caters to a growing community need for medical services. This is a single-tenant occupancy with a 1-10 year lease option. The property's strategic location and the tenant's strong financial standing contribute to its high investment potential.

    Property Features for 6309 Mack Ave

    General Information

    Property type
    Medical offices
    Square Feet
    61,622 SF
    Lot Size
    169,884 SF

    Building Details

    Year Built/Renovated
    1940/2020
    Buildings
    5
    Stories
    4

    HighLights

    • 15‑year leaseback at $20/SF NNN; 15% rent increases at years 6 and 11; no landlord responsibilities.
    • Well‑located East Detroit medical facility serving a high‑demand market; ample parking; recently updated.
    • Strong demand driven by Detroit's revitalization and growing population; caters to both young professionals and baby boomers.
    • Tenanted by Team Wellness, a major Midwest mental healthcare provider serving over 4,000 patients weekly; offers comprehensive services.
    • Potential portfolio sale including a second premier medical building (2851 Russell, Detroit, 48,940 SF) also occupied by Team Wellness.
    Property Profile Location Intelligence

    Current Use by Public Records

    Team Wellness Center Mental Health Clinic New Shine Records Musician Mc Kinney Ann Counselor Davis Shanesha Counselor Detroit Wellness Pharmacy Pharmacy

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0213255
    Latitude
    42.3616244

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    FAQs

    What type of property is this?
    Medical office - High-yield medical office, 15-year leaseback
    Where is this medical office located?
    The property is located at 6309 Mack Ave Detroit, MI.
    What is the asking price?
    The asking price for this property is $14,499,000.
    What are key features of this property?
    This property features: 15-year leaseback at $20/SF NNN; 15% rent increases at years 6 and 11; no landlord responsibilities.; Well-located East Detroit medical facility serving a high-demand market; ample parking; recently updated.; Strong demand driven by Detroit's revitalization and growing population; caters to both young professionals and baby boomers.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    6309 Mack Ave Detroit, MI 48207
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