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Advanced Dermatology & Cosmetic Surgery 4170 Cedar Bluff Dr 19,200 SF Office Building Petoskey, MI 49770 $5,275,846 ($274.78/SF) 7.50% Cap Rate
Investment Highlights
- Recently Renewed NNN Lease with 150+ Unit National Operator and 7.50% Cap Rate with 2% Annual Increases
- Advanced Dermatology & Cosmetic Surgery Backed by $20 Billion Private Equity Firm
- Medical Office Rents Average a 4.0% Annual Increase Over the Past Five Years and 2.9% Annually Over the Past Decade
- Purpose-Built 19,200 SF Medical Facility Constructed in 2015 for Dermatology Operations
- Located in One of Only 13 'Pure Luxury' U.S. Markets, Alongside Distinguished Luxury Destinations such as Nantucket, Napa Valley, & Jackson Hole
- Established Regional Medical Corridor in Rapidly Appreciating Northern Michigan Market
Executive Summary
Matthews Real Estate Investment Services, Inc
6502432668, 6505432273 (MI)
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Health Care and Social Assistance
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Advanced Dermatology, PC is a network of skilled medical dermatologists. With locations throughout the northeast, including dermatologists in New York, New Jersey, and Connecticut, we are your trusted source for comprehensive skincare solutions. Their specially trained dermatologists excel in diagnosing all forms of skin cancer and pre-cancer. They achieve meticulous results with board-certified, fellowship-trained Mohs micrographic surgeons, boasting exceptional cure rates and minimal scarring. They continuously enhance their provided procedures and services, incorporating the latest techniques available in the field of dermatology. Their doctors treat many conditions, including skin cancer, acne, and laser treatments, staying at the forefront of innovation.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
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Health Care and Social Assistance | - | - | - |
Property Taxes
| Parcel Number | 13-18-10-200-025 | Improvements Assessment | $1,750,200 |
| Land Assessment | $11,200 | Total Assessment | $1,761,400 |
Property Taxes
Contacts
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Remi Bogdanovich -
Kyle Mackulak -
Rahul Chhajed -
Michael Moreno -
Matthews Real Estate Investment Services
