19953 Conant St Detroit, MI 48234-1334

Property Details for 19953 Conant St

Year built

1960

Lot size

0.29 lot acres

Property size

4,527 SF

Zone code

B4

Property type

Medical offices

Property subtype

Medical centers

APN

09008499-504

APU

9008499504

Description

This single-story, 4,527 square foot medical office building presents a compelling value-add investment opportunity in Detroit, Michigan. Located at 19953 Conant Street, this property boasts a desirable location and features ample on-site gated parking. Built in 1960 and renovated in 2020, the building is classified as Class C and sits on a 0.29-acre lot. Currently vacant, the property offers a pro-forma net operating income (NOI) of $54,000, translating to a 13.52% pro-forma capitalization rate at the asking price of $399,450 ($88.24 per square foot). The building's layout includes two specialty areas, eight rooms with sanitizing areas, two large private offices, two ADA-compliant bathrooms, a lab, a spacious reception area with a large lobby, and an additional large room. The property is zoned for multiple uses, including office, providing flexibility for future tenants. The lease type is NNN (Net, Net, Net), and the property is held under standard private ownership. The Wayne County Assessor's Parcel Number (APN) is 09008499504. This property is ideal for an investor seeking a strong return in a busy Detroit location. While previously occupied under a lease expiring in December 2024, the building is now available for immediate acquisition.