2500 Niles Road
Saint Joseph, MI 49085 ·
28,286 SF · Office For Sale
The Medical Center at 2500 Niles Road
|Building Size||28,286 SF||Occupancy||100%|
|Property Type||Office||No. Stories||1|
|Property Sub-type||Medical Office||Building Class||A|
|Property Use Type||Net Lease Investment with 5 years left on lease||Tenancy||Multiple|
|Commission Split||3%||Year Built||1987|
|Listing ID: 15871713||Date Created: 08/28/2008||Last Updated: 02/05/2009|
The Medical Center at 2500 Niles Road is a high-quality, Class A medical office building located in St. Joseph, Michigan. A few of its key features include:
Beautiful Building with Excellent Design
Well-designed building offers physicians, staff, and patients attractive, specially-designed medical suites with quality systems.
The Medical Center at 2500 Niles Road is conveniently located in the heart of St. Joseph, Michigan and only minutes away from the hospital and outpatient center.
Solid, Income-Producing Tenants
Nine high-quality medical tenants with lease terms up to five years in length. Building is 100% rented, and rental trend is positive.
Pro Forma Net Operating Income (NOI): $293,653
Asking Price: $3,538,000; Cap Rate: 8.3%
Price per square foot (28,286 total sq. ft.): $125 per sq. ft.
The Medical Center at 2500 Niles Road is being offered for sale concurrently with the Lakeland Medical Office Building (19,131 sq. ft.) located in Niles, Michigan. These two buildings may be purchased jointly or separately.
The Medical Center at 2500 Niles Road has excellent regional appeal given its convenient location on the major road (M-63/Niles Road) between the Lakeland Regional Medical Center (the community' s local hospital) and the interstate (I-94). It is also conveniently located between the local hospital and the hospital' s outpatient center.
From The Medical Center at 2500 Niles Road it is only 1.7 miles to the hospital, 2.3 miles to the outpatient center, and only 1.3 miles to I-94. Daily traffic count on Niles Road is 14,100 cars.
The Benton Harbor/St. Joseph area enjoys strong community demographics: the hospital is a major employer, and the community is world headquarters for Whirlpool Corporation.
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