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EyeSouth Medical Office/Surgery Center 2 Office Properties Offered at $6,646,326 in Multiple Locations
Investment Highlights
- Two-Property Medical Office Portfolio
- Ophthalmic Specialists of Michigan (OSM): 7,090 SF, single-tenant medical office | Total Portfolio Size: 20,590 SF across 2.36 acres
- Certificate of Need attached to Livonia property
- Livonia Outpatient Surgery Center (LOSC): 13,500 SF, two-tenant medical office with 2 operating rooms, 4 pre-op and 4 post-op rooms
- 15 years remaining (recent extensions) | Double-net leases with 2% annual rent increases | Two (2) five-year option periods
- Tenant: EyeSouth EyeCare, a national MSO with 60+ practices, 365+ physicians, and 26 ambulatory surgery centers nationwide.
Executive Summary
Marcus & Millichap is pleased to present a two-property medical office portfolio totaling 20,590 square feet across 2.36 acres, offered individually or together. The portfolio includes Livonia Outpatient Surgery Center (LOSC), a 13,500-square-foot, two-tenant medical office on a 1.71-acre lot at 33400 W. Six Mile Road in Livonia, and Ophthalmic Specialists of Michigan (OSM), a 7,090-square-foot single-tenant medical office on 0.65 acres at 301 W. 13 Mile Road in Madison Heights. Both properties feature recently extended 15-year double-net leases with 2% annual rent escalations and two five-year options. The combined portfolio is offered at $6,646,326, or individually at $4,905,333 for Livonia and $1,740,993 for Madison Heights, each at a 6.75% cap rate. Together, these assets provide stable, long-term income backed by leading ophthalmology and surgical care providers supported by EyeSouth EyeCare, a national management services organization with a network of 60+ practices, 365 physicians, and 26 ambulatory surgery centers across the U.S.
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Property Facts
| Price | $6,646,326 | Status | Active |
| Price / SF | $322.79 / SF | Number of Properties | 2 |
| Sale Condition | Bulk/Portfolio Sale | Individually For Sale | 2 |
| Cap Rate | 6.75% | Total Building Size | 20,590 SF |
| Sale Type | Investment | Total Land Area | 2.36 AC |
| Price | $6,646,326 |
| Price / SF | $322.79 / SF |
| Sale Condition | Bulk/Portfolio Sale |
| Cap Rate | 6.75% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 2 |
| Total Building Size | 20,590 SF |
| Total Land Area | 2.36 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Coburn Kleinfeldt
33400 W 6 Mile Rd, Livonia, MI 48152 |
Office | 13,500 SF | 1975 | $4,905,333 |
|
Madison Place Office
301 W 13 Mile Rd, Madison Heights, MI 48071 |
Office | 7,090 SF | 1986 | $1,740,993 |
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EyeSouth Medical Office/Surgery Center
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