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36500 South Gratiot Avenue

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

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

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

Seth Haron

Marcus & Millichap

Broker

$107.9M

vol

12 deals

Broker

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