400 Main St Onsted, MI 49265-9202
- Commercial real estate
- 5,998 SF
- 1.84 lot acres
Current Use by Public Records
- ProMedica Physicians Family Medicine - Onsted / Family Practice Physician
- Matt Hall, PAC / Physician Assistant
- Lou Anne Justus, PAC / Physician Assistant
- Onsted Family Care / Family Practice Physician / Medical Clinic
- The Medicine Shoppe® Pharmacy / Pharmacy
Property Details for 400 Main St
- Lot size
- 1.84 lot acres
- Property size
- 5,998 SF
- Zone code
- IN
- Property type
- Commercial real estate
- APN
- CA8-300-0191-00
- APU
- CA8300019100
Description
This exceptional 5,837 square foot medical office building, located at 400 N Main St, Onsted, MI 49265, presents a compelling investment opportunity. Built in 2001 and renovated in 2015, the property sits on a 1.84-acre lot and boasts 100% occupancy with two tenants under a multi-tenant lease with four years remaining. The building offers a stabilized investment profile with a value-add potential, generating a strong net operating income (NOI) of $84,995 and an 8.50% cap rate. The asking price is $1,000,000, translating to $171.32 per square foot. The property benefits from its prime location in a high-traffic area with excellent visibility and convenient access to major roads. Its tenant is a high-credit healthcare provider, ensuring a stable income stream and minimizing the risk of tenant turnover. The property's location in a thriving community, close to residential areas and commercial establishments, further enhances its long-term value and appeal. The essential nature of healthcare services makes this a recession-proof asset with consistent returns, providing a secure and profitable investment for years to come. This is a single-building property.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Onsted
- County
- Lenawee
- State
- Michigan
- Longitude
- -84.1904
- Latitude
- 42.0124
- CBSA code
- 10300
- CBSA name
- ADRIAN, MI MICROPOLITAN STATISTICAL AREA
