Marcus & Millichap Facilitates $9.8M Sale Of Medical Office In Midland, MI
4228 Bay City Road
$9,800,000
$418/SF
Building Size
23,420 SF
Asset Type
Medical Office
Closing
Feb 16, 2024
AI
The Great Lakes Bay Surgery & Endoscopy Center in Midland, Michigan has been sold for $9,800,000. The property is a multi-tenant medical office building covering 23,420 square feet and is located at 4228 Bay City Road in the Midland market.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $9,800,000
- SF: 23,420
- PPSF: $418
- Brokers: Ashish Vakhariya, Darin Gross & Seth Haron - Marcus & Millichap
Ashish Vakhariya, Darin Gross, and Seth Haron from Marcus & Millichap represented the parties in this transaction, successfully facilitating the sale of the medical office property.
Players
Midland 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
1.62%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93