Updated Dec 4, 2024
Nova Sky Investments LLC Acquires McLaren Macomb-Gratiot Medical Building For $3.5M From Platform Ventures LLC
36500 South Gratiot Avenue
$3,500,000
$201/SF
Building Size
17,333 SF
Asset Type
Medical Office
Closing
Sep 6, 2024
About this deal
AI
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
Clinton Township Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93