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116 Mill St 5,632 SF 100% Leased Office Building Fenton, MI 48430 $2,100,000 ($372.87/SF) 5.64% Cap Rate
Investment Highlights
- Investment Opportunity.
- Med Spa tenant with 20 locations
- Additional municipal parking adjacent.
- Located in downtown Fenton
- Spectacular architecture with high-end finishes.
Executive Summary
Turnkey NNN Med Spa Investment – Downtown Fenton, MI
116 Mill Street | Fenton, MI 48430
Outstanding opportunity to acquire a modern two-story NNN investment property in the heart of Downtown Fenton’s thriving retail and dining district. Built in 2018, this 5,632 SF freestanding building features premium architecture, high-end finishes, and excellent street visibility at the corner of Mill and Adelaide Streets.
The property is 100% leased to Cosmetic Skin & Laser Center, a proven multi-location Med Spa operator with 20+ clinics nationwide, under a NNN lease through March 2029 with 3% annual increases. Tenant covers all expenses, providing passive, low-maintenance income with an annual NOI of $118,450.
Located within the Central Business District (CBD), the property benefits from strong demographics, ample municipal parking, and proximity to popular restaurants, boutiques, and lifestyle amenities in one of Michigan’s fastest-growing downtowns.
116 Mill Street | Fenton, MI 48430
Outstanding opportunity to acquire a modern two-story NNN investment property in the heart of Downtown Fenton’s thriving retail and dining district. Built in 2018, this 5,632 SF freestanding building features premium architecture, high-end finishes, and excellent street visibility at the corner of Mill and Adelaide Streets.
The property is 100% leased to Cosmetic Skin & Laser Center, a proven multi-location Med Spa operator with 20+ clinics nationwide, under a NNN lease through March 2029 with 3% annual increases. Tenant covers all expenses, providing passive, low-maintenance income with an annual NOI of $118,450.
Located within the Central Business District (CBD), the property benefits from strong demographics, ample municipal parking, and proximity to popular restaurants, boutiques, and lifestyle amenities in one of Michigan’s fastest-growing downtowns.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
5,632 SF
Building Class
B
Year Built
2019
Price
$2,100,000
Price Per SF
$372.87
Cap Rate
5.64%
NOI
$118,450
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,816 SF
Building FAR
0.81
Lot Size
0.16 AC
Zoning
CBD - Central Business District
Parking
8 Spaces (1.42 Spaces per 1,000 SF Leased)
Amenities
- High Ceilings
- Air Conditioning
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Cosmetic Skin and Laser Center
- Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Cosmetic Skin and Laser Center | Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
1 1
Property Taxes
| Parcel Number | 53-36-506-079 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $524,300 |
Property Taxes
Parcel Number
53-36-506-079
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$524,300
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116 Mill St
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