This Office Property is Off-Market.

2500 Niles Road
Saint Joseph, MI 49085 ·

28,286 SF · Office For Sale

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The Medical Center at 2500 Niles Road

Price N/A Cap Rate 8.30%
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

Description

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.

Convenient Location
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.

Attractive Investment
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.

Research

2500 Niles Road, Saint Joseph, MI 49085 (Berrien County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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