1010 North Down River Rd Grayling, MI 49738
- Specialty properties
- 5,936 SF
Current Use by Public Records
- Grayling Surgical Services / Medical Clinic / Hospital
- Munson Surgical services / Physician
- Nicholas Fox / Physician
- Paul Kirkpatrick Reynolds, DO / Physician
- Garrick Reid Cvitkovich, MD / Physician
Property Details for 1010 North Down River Rd
- Property size
- 5,936 SF
- Property type
- Specialty properties
- Property subtype
- Land
Description
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.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Grayling
- County
- Crawford
- State
- Michigan
- Longitude
- -84.713
- Latitude
- 44.6704
