Dequindre Office Complex

Office for Sale
Catylist Listing ID: 30199854
Property Subtypes: Flex Space, Office Building
Building Size (RSF): 9,000 SF
Gross Land Area: 1.18 Acres
Sale Price: $675,000
Unit Price: $75 PSF
Property Use Type: Investment
Building Name: Dequindre Office Complex
Class of Space: Class C
Usable Size (USF): 9,000 SF
Core Factor: 10%
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Average Occupancy Rate: 75
Last Updated: 1/30/2018

Overview / Comments

Perfect opportunity for an Owner/User that wants to own an investment property.
Easy to manage, and very well maintained. This building is a two story office complex located on the west side of Dequindre in the City of Madison Heights. There is excellent signage and visibility on Dequindre Road. Located directly across the street from Universal Mall. There is ample parking.

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $15,281 (Annual)
Tax Value Land $209,300
Tax Value Improvements $5,106
Assessed Value - Total($) $243,790 (Annual)
Net Operating Income $27,000 (Annual)
Gross Operating Income $69,568 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name Velton D. Robinaon, DDS.
Is Renting? Yes
Suite Number 230
SF of Space Occupied 2,400 SF
Current Rent $15 PSF (Annual)
Lease Expiration 10/2020
Escalations $.50/ft annually.
Options None.
Tenant Business Name The Mindful Self, LLC.
Is Renting? Yes
Suite Number 200
SF of Space Occupied 2,250 SF
Current Rent $11 PSF (Annual)
Lease Expiration 6/2021
Escalations $.50/ft annually.
Options None.
Tenant Business Name Premier Dental Labs, LLC.
Is Renting? Yes
Suite Number 110
SF of Space Occupied 1,050 SF
Current Rent $11 PSF (Annual)
Lease Expiration 7/2022
Escalations $1.00/ft. annually.
Options None.
Tenant Business Name Premier Dental Labs, LLC.
Is Renting? Yes
Suite Number 110
SF of Space Occupied 1,050 SF
Current Rent $11 PSF (Annual)
Lease Expiration 7/2022
Escalations $1.00/ft. annually.
Options None.

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Oakland
Submarket/Township: Royal Oak Vicinity
Taxing Authority: City of Madison Heights
Tax ID/APN: 44-25-13-229-052
Zoning: O-1 OFFICE
Property Located Between: 11 and 12 Mile Road
Property Visibility: Excellent
Highway Access: I-696; and I-75
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 4,500 SF
Year Built: 1970
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,714 140,086 424,590
Median Age: 41.18 38.8 38.48
Households: 8,213 60,465 175,718
© Copyright Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Commercial Property Information Exchange (CPIX) nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.