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Nova Sky Investments LLC Acquires McLaren Macomb-Gratiot Medical Building For $3.5M From Platform Ventures LLC

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SOLD
$3,500,000

Michigan

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Medical Office17,333 SF
Sold 09/06/2024
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Property Image
SOLD

Nova Sky Investments LLC Acquires McLaren Macomb-Gratiot Medical Building For $3.5M From Platform Ventures LLC

36500 South Gratiot Avenue

See Similar Deals
Medical Office17,333 SF
Sold 09/06/2024
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Summary

MICHIGAN
Asset Type:Medical Office
Price Per Square Foot:$201
Total Square Footage:17,333 SF
Transaction Type:Sale

The medical office property located at 36500 South Gratiot Avenue in Clinton Township, MI, was sold for $3,500,000. This asset spans 17,333 square feet, translating to a price per square foot of $202. The property was fully leased to McLaren Macomb, indicating its operational status at the time of sale.

Summary of transaction details:

  • Property Type: Medical Office
  • Transaction Amount: $3,500,000
  • Square Footage: 17,333 SF
  • Price Per Square Foot: $202
  • Address: 36500 South Gratiot Avenue
  • Market: Clinton Township, MI
  • Buyer: Nova Sky Investments LLC
  • Seller: Platform Ventures LLC
  • Broker Representatives: Ashish Vakhariya, Darin Gross & Seth Haron - Marcus & Millichap

Marcus & Millichap facilitated the transaction involving the McLaren Macomb-Gratiot Medical Building, with the brokerage team of Seth Haron, Ashish Vakhariya, and Darin Gross managing the sale process between the buyer and seller.

Players

Seth Haron
12 deals$107.9M volume
BROKER

Ashish Vakhariya
Marcus & Millichap
12 deals$107.9M volume
BROKER

Darin Gross
Marcus & Millichap
12 deals$107.9M volume
BROKER

Details

SOLD
IMAGE: Darin Gross, Ashish Vakhariya & Seth Haron DATE: 09/06/2024 ADDRESS: 36500 South Gratiot Avenue MARKET: Clinton Township, MI ASSET TYPE: Medical Office BUYER: Nova Sky Investments LLC SELLER: Platform Ventures LLC BROKERS: Ashish Vakhariya, Darin Gross & Seth Haron - Marcus & Millichap SALE PRICE: $3,500,000 SF: 17,333 ~ PPSF: $202 NOTE: Marcus & Millichap facilitated the $3.5 million sale of the 17,333-square-foot McLaren Macomb-Gratiot Medical Building in Clinton Township, Detroit. The property, fully leased to McLaren Macomb, was sold by Platform Ventures LLC to Nova Sky Investments LLC, with Seth Haron, Ashish Vakhariya, and Darin Gross handling the transaction.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$186,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43