31930 Grand Riv Ave, Farmington, MI 48336-4126

This Farmington, MI medical office building presents a compelling investment opportunity. The 2,503 square foot property, built in 1991, is located at 31930 Grand River Ave, 48336, in Oakland County, within a thriving retail corridor featuring national tenants like Starbucks, Target, and T.J. Maxx. Currently 100% occupied by Guardian Dentistry Partners under a Net Net + lease commencing May 5, 2023, and expiring May 5, 2033, with two five-year renewal options, this single-tenant property offers a substantial remaining lease term of 8.3 years. The lease includes a 3% annual rent increase, providing built-in protection against inflation and a steady increase in cash flow. The asking price is $867,143, representing a price per square foot of $346 and a 7.00% cap rate, with a current NOI of $60,700. The strong demographics of the area, boasting over 208,479 residents within a 5-mile radius and an average household income exceeding $114,759, further enhance the investment potential. Guardian Dentistry Partners' recent acquisition of the practice and long-term lease commitment underscore the stability and longevity of this investment. This fee-simple property is ideal for 1031 exchange buyers seeking a passive income stream with minimal management responsibilities.