1010 North Down River Rd Grayling, MI 49738

This exceptional investment opportunity presents a 5,936 square foot medical office building situated on a full city block in Grayling, Michigan, at 1010 W North Down River Road. Currently leased to Munson Hospital under a recently renewed 5-year lease, this property boasts an attractive 8.1% cap rate. The building itself is in excellent condition, featuring a new roof installed in 2022. Beyond the main 5,936 square feet of first-floor medical space, a fully finished 2,000 square foot basement provides additional usable area. The expansive lot offers significant potential for future development, with ample parking and frontage on North Down River, Rose, Erie, and Vine Streets. This property represents a rare chance to acquire a high-performing asset in a desirable location with significant upside potential. The asking price is $900,000. The property is classified as Special Purpose Land and is zoned for commercial use. The address is 1010 W North Down River Road, Grayling, MI 49738.