4020 Venoy Rd
Wayne, MI 48184
Venoy Medical Center · Office Property For Sale

Colliers International is pleased to present for sale the 100 percent fee simple interest in Venoy Medical Center located at 4020 Venoy Road, Wayne, Michigan. The Property is located on the northwest corner of Venoy Road and Forest Street, approximately one-quarter mile south of Michigan Avenue. Built in 1994 and renovated in 2002, the 24,947 square foot medical office asset is 82% occupied by 7 doctors amongst 9 suites that have a long history of operating at the site. Many of the tenants have committed to new leases at $16.50/SF until 12/31/2022, demonstrating their ongoing commitment to the Property. The Property also benefits from several recent and current improvements. Ownership put a new roof on the Property in October 2018 and is currently redoing the entire parking lot. The Property is located in a densely populated region with over 204,000 people within a five-mile radius. The average household income within a five-mile radius of the Property exceeds the national average at $63,000. The Property features a great location within one-half mile of Beaumont Hospital – Wayne, located at the corner of Venoy Road and Annapolis Street. Beaumont Hospital – Wayne is a 185-bed hospital specializing in diabetes and endocrinology, gastroenterology and GI surgery, geriatrics, nephrology and neurosurgery, orthopedics, pulmonology, and urology. The asset also benefits from its proximity to heavily-traveled Michigan Avenue, which experiences approximately 38,500 vehicles per day by the Venoy Road intersection. The Property also features excellent visibility and access from both Forest Street and Venoy Road. There are 2.9M SF of office product within a five-mile radius; many of which are located along Michigan Avenue, South Wayne Road, and Ford Road. Venoy Medical Center presents a unique opportunity for an investor to acquire a property with a stabilized income stream with a value-add opportunity in three years.