6309 Mack Ave Detroit, MI 48207

Property Details for 6309 Mack Ave

Year built

1913

Lot size

0.15 lot acres

Property size

27,648 SF

Zone code

B2

Property type

Office buildings

APN

15000292.

APU

15000292

Description

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.

Location Insight

City

Detroit

County

Wayne

State

Michigan

Longitude

-83.0214

Latitude

42.3616

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments