Spectrum Health/Gerber Memorial Medical Office Inv
NAI Wisinski presents the Investment Sale of a single tenant medical office building ideally located on W Pine Lake Drive in Newaygo Michigan. The building consists of approximately 8726 square feet plus a 1290 square foot basement. This asset offers an investor the opportunity to own a 100% occupied medical office building with a solid leasing history a strong credit tenant and a corporate lease guarantee. Spectrum Health is the preeminent health care provider in West Michigan and one of the areas largest employers. It offers a full continuum of health care services utilizing a not-for-profit care model. The subject property is the main urgent care facility for the population in and around the City of Newaygo while also providing family medicine/primary care and physical therapy services. The property is well maintained and features attractive architecture. The tenant enjoys high street exposure from a large pylon sign along with great vehicle access within a large successful mixed use development. Spectrum Health/Gerber Memorial Medical Office Building is offered at an attractive 10.5% cap rate and 20.0% Year 1 cash on cash return based on in-place income representing a value
