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2280 Sower Blvd
Okemos, MI 48864
Smile Brands | 8.50% Cap | 5 Year Lease · Office Property For Sale
Investment Highlights
- Bite Size Deal — The property offers investors the opportunity to acquire a deal leased to a national tenant at just $514k.
- Strong Historical Occupancy — The property has been operating as a dental practice for several decades, providing a buyer with a high level of comfort
- Smile Brands — Smile Brands is one of the country’s largest network of dental practices with nearly 700 locations and 6,800 doctors and staff
- Advantageous Per/SF Metrics — At a price of just $226/SF, the property is priced below replacement cost.
- Specialized Use & Tenant Investment in Location — It is costly for dental practices to relocate due to having one of the highest build-out costs
- $187 Billion Industry — Dentistry is one of the largest industries in healthcare and grows by an average of 5.3% annually
Executive Summary
Broker of Record
Matt Fitzgerald
License # 6505432273 (MI)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Matt Fitzgerald
License # 6505432273 (MI)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
2,271 SF
Building Class
C
Year Built
1985
Price
$698,954 CAD
Price Per SF
$307.77 CAD
Cap Rate
8.50%
NOI
$59,411 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
2,271 SF
Building FAR
0.11
Lot Size
0.48 AC
Zoning
COMM - Commercial
Parking
14 Spaces (6.16 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 02-02-28-326-027 | Improvements Assessment | $234,116 CAD |
| Land Assessment | $71,699 CAD | Total Assessment | $305,815 CAD |
Property Taxes
Parcel Number
02-02-28-326-027
Land Assessment
$71,699 CAD
Improvements Assessment
$234,116 CAD
Total Assessment
$305,815 CAD
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