1877 Orchard Lake Rd Sylvan Lake, MI 48320

Property Details for 1877 Orchard Lake Rd

Year built

1971

Lot size

0.93 lot acres

Property size

17,920 SF

Property type

Office Properties & Spaces

Property subtype

Mixed-use properties

Description

This exceptional mixed-use investment opportunity presents two professional office buildings totaling 17,920 square feet, situated on a 0.93-acre lot at the highly visible intersection of Orchard Lake Road and Telegraph Road in Sylvan Lake, Michigan. Built in 1971 and thoughtfully updated over the years, the property boasts two buildings, each offering 8,960 square feet across two stories. The buildings feature well-lit underground parking and renovated above-ground parking lots, providing ample parking for tenants and visitors. Currently, the property enjoys an 80% occupancy rate, with 25 office suites of varying sizes. One building is fully occupied, while the other has two vacant suites and two individual office spaces available for immediate lease or owner-occupancy. The property offers a compelling net lease investment opportunity with a 7.69% cap rate and a current net operating income (NOI) of $115,309. The property is zoned commercial and has a parcel number of 1906107029. This established property has been under the same ownership for over 22 years, presenting a rare chance for an owner-user to establish or expand their business in a thriving location. The asking price is $1,500,000.

Location Insight

City

Sylvan Lake

County

Oakland

State

Michigan

Longitude

-83.3233

Latitude

42.6163