2940 Crooks Rd Rochester Hills, MI 48309

Property Details for 2940 Crooks Rd

Year built

2005

Lot size

0.93 lot acres

Property size

9,231 SF

Property type

Office Properties & Spaces

Property subtype

Medical offices

Description

This exceptional investment opportunity presents a 9,231 square-foot medical office building in Rochester Hills, Michigan. The property, built in 2005, features 7,431 square feet of clinical space and 1,800 square feet of administrative space, all situated on a 0.93-acre lot with ample parking. A 10-year triple-net lease is in place with a corporate guarantee, offering a strong 7.50% cap rate and a substantial NOI of $221,544. The lease includes 2% annual rent increases and four 5-year renewal options, ensuring long-term income stability. The building is 100% occupied by Stonebrooke Family Physicians, a thriving family practice with eight providers. Its prime location near major hospitals (Ascension Providence Rochester and Corewell Health/Beaumont Troy), high-traffic roadways (M-59 and I-75), and an affluent demographic area with a high average household income, makes this a highly desirable investment. The property benefits from excellent visibility at the corner of Crooks Road and Auburn Road, experiencing significant daily traffic volume. The area also boasts proximity to Oakland University and Downtown Rochester, further enhancing its appeal. This sale-leaseback offers a secure, high-return investment with significant upside potential. The property is zoned commercial and has a fee simple ownership. The asking price is $2,953,920, resulting in a price per square foot of $320. The property's address is 2940 Crooks Rd, Rochester Hills, MI 48309. The APN is 70-15-29-477-036.