2408 10th St - Health Care FOR SALE


Menominee, MI 49858
$2,575,220 USD
2408 10th St, Menominee, MI for Sale
$2,575,220 USD
Health Care - FOR SALE
1/5
null | 6.75% Cap Rate

2408 10th St
Menominee, MI 49858


HIGHLIGHTS

  • Leased to Aurora Medical Group, part of the Advocate Aurora Healthcare system
  • 14 years remaining on the primary lease term
  • 1% annual rental escalations
  • 2018 construction
  • Advocate Aurora Health is one of the top 12 not-for-profit health systems in the country
  • Located along 10th Street (18,900 VPD)

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Advocate Aurora Health property located in Menominee, Michigan. The property was a build-to-suit for the medical tenant in 2018. The lease features over 14 years of primary term remaining and contains 1% annual rental escalations. There are four 5-year renewal options as well. This location provides family medicine and lab testing. Aurora Bay Area Medical Group is part of Advocate Aurora Health, which is investment grade (Moody’s: Aa3). The 4,540 square foot building is located along 10th Street which is a primary thoroughfare for the area and experiences over 18,900 vehicles per day. Retailers in the area include Burger King, True Value, Perkins, Little Caesars Pizza, Dollar General, A&W, Shell, McDonald’s, & Taco Bell. The property is also one mile from the Menominee-Marinette Regional Airport and across from the Menominee Fire Department. There are 22,872 people living within five miles of the property earning an average annual household income of $65,560. Aurora got its start in 1984 when two established Milwaukee hospitals, St. Luke’s Medical Center, and Good Samaritan Medical Center, came together to form Aurora Health Care. In 2018, Aurora Health Care merged with Advocate Health Care of Illinois to form Advocate Aurora Health, one of the top 12 not-for-profit health systems in the country. Today, Aurora is an integrated, not-for-profit health care provider serving communities throughout eastern Wisconsin and northern Illinois. They serve our patients with 16 hospitals, more than 150 clinics and 70 pharmacies in 30 communities.

FOR SALE DETAILS

PRICE

$2,575,220 USD

PRICE/SF

$567 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Aurora Medical Group

PROPERTY TYPE

Health Care

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

2018

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.7 AC

LAND SF

74,052 SF

ZONING

-

APN/PARCEL ID

051-033-070-41

ASK ABOUT THIS PROPERTY

Randy BlanksteinThe Boulder GroupMore Info

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Randy BlanksteinThe Boulder GroupMore Info

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