$1,050,000
$1,425,000
26.3%For more information regarding the value of a property, please contact us for a free consultation.
1181 N MILFORD Road Milford Vlg, MI 48381
8,573 SqFt
Key Details
Sold Price $1,050,000
Property Type Commercial
Sub Type Real Estate Only
Listing Status Sold
Purchase Type For Sale
Square Footage 8,573 sqft
Price per Sqft $122
MLS Listing ID 20240018968
Year Built 1990
Annual Tax Amount $23,428
Lot Size 0.830 Acres
Property Description
Excellent investment opportunity with this beautiful 8,573 sq ft building with fantastic curb appeal & park-like setting. Maximum exposure & monument signage on Milford Rd just minutes from downtown Milford. The entire lower floor is occupied by a DMC OB/GYN office with a new 5 year lease in place (expiring 5/2028). Along with this new lease, the DMC made a $150k investment promise to renovate their space (building owner will have final say & plan approval & should be soon).
The upper floor is 25% occupied with a new 5 year NNN lease for $1295/mo (ramps up to $1595/mo in years 4 & 5)
Land Contract terms are negotiable. Other 3 lease spaces are currently advertised on the MLS. Much more potential for additional income (10.7% cap rate)
This building is very well-maintained with many updates...new parking lot in July 2023, newer furnaces and A/C units, new LED lights in parking lot as well as throughout building.
Add this building to your portfolio with pride!
Location
State MI
County Oakland
Area Milford Vlg
Zoning Commercial,Office
Interior
Hot Water Natural Gas
Heating Forced Air
Exterior
Utilities Available Elevator, Employee Lunch/Lounge, Intercomm, Security Alarm, Smoke Alarm
Roof Type Asphalt
Building
Foundation Basement
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Structure Type Brick
Schools
School District Huron Valley
Others
Acceptable Financing Cash, Contract, Conventional
Listing Terms Cash, Contract, Conventional
Special Listing Condition Full Service
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