64 Victor St - Medical FOR SALE


Highland Park, MI 48203
$2,886,000 USD
832-602-3383
64 Victor St, Highland Park, MI for Sale
$2,886,000 USD
Medical - FOR SALE
1/5
null | 7.25% Cap Rate

64 Victor St
Highland Park, MI 48203


HIGHLIGHTS

  • Absolute Net Lease - Tenant handles all expenses; landlord enjoys passive income with zero operational obligations.
  • Proximity to Downtown Detroit - Located 3 miles from Detroit's central business district, near key employers and healthcare along Woodward Ave.
  • Tenant Funded Renovations - $2M in tenant-funded upgrades underway; rent started and completion expected by August 2025.
  • Strong Population Density - Over 345,000 residents within 5 miles support demand for Vivent Health’s services.
  • Rent Escalations - Lease includes 3% annual increases starting in year 6, and continuing through two option periods.

OVERVIEW

Peranich Huffman Net Lease Group is pleased to exclusively offer for sale the Vivent Health facility located in Highland Park, Michigan. Priced at a 7.25% capitalization rate, this opportunity allows investors to acquire a healthcare asset leased to a nationally recognized, mission-driven medical provider with a long-standing presence in the HIV care and prevention space. The subject property is a 15,550 square-foot medical facility currently undergoing a comprehensive renovation, with approximately $2 million in tenant-funded improvements underway. Rent has commenced, and the renovations are expected to be completed in August 2025. Located approximately 3 miles from Detroit's central business district, the property benefits from strategic placement within a robust healthcare corridor. Nearby institutions include Henry Ford Hospital—a major regional medical center—as well as Henry Ford Medical Center – New Center One, Detroit Medical Center, and Detroit Receiving Hospital. The area also features a wide range of specialized medical practices and outpatient clinics serving the broader Detroit metropolitan region. Vivent Health has over 9.5 years remaining on its primary lease term. The lease includes 3.00% annual rent escalations beginning in year six, with the same escalation schedule continuing through the first two (5-year) renewal option periods. Structured as an absolute net lease, the agreement places full financial responsibility for all property-related expenses on the tenant, with no landlord obligations. Founded in 1985, Vivent Health is a non-profit organization and one of the nation’s largest providers of integrated HIV care, prevention, and treatment services. Headquartered in Milwaukee, Wisconsin, the organization operates across 17 locations and employs over 400 healthcare professionals. Vivent Health has been designated by the Centers for Medicare and Medicaid Services as the nation’s only HIV Medical Home and has maintained a national reputation for clinical excellence and community-based care for over four decades.

FOR SALE DETAILS

PRICE

$2,886,000 USD

PRICE/SF

$176 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Drug Store, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

A

YEAR BUILT

1963

SPRINKLERS

-

PARKING SPACES

39

LAND DETAILS

LAND ACRES

0.83 AC

LAND SF

36,155 SF

ZONING

-

APN/PARCEL ID

43-008-01-0064-000

ASK ABOUT THIS PROPERTY

Jonathan PeranichPeranich Huffman Net Lease GroupMore Info
832-602-3383

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Jonathan PeranichPeranich Huffman Net Lease GroupMore Info
832-602-3383

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.