53 S Washington St 5,004 SF 100% Leased Retail Building Oxford, MI 48371 $1,813,300 CAD ($362.37 CAD/SF) 7.14% Cap Rate

53 S. Washington, location in the heart of Downtown Oxfords' main downtown shopping district. Located directly across from the Oxford bank and trust and the Oxford movie theater. The building consists of over 5000sf of completely renovated space. It offers a desirable private parking lot, consisting of over 20 parking spaces for exclusive use. The building is home to two tenants, M.J. Electric and Choice Therapeutics. The building has 4 rooftop HVAC units, 3 of the 4 are new within the past three years. The building is in overall great shape and a staple location to Oxford!!
M.J. Electric occupies 3,339sf, while Choice Therapeutics occupies 1,665sf. M.J. Electric, a nationwide electrical contracting company, headquarters in Texas has a long history in Michigan. They recently added 53 S. Washington to their already large presence in Oxford, to serve as their central office location. Choice Therapeutics also has a long history serving the Oxford community.
M.J. Electric has a 5 year corporate backed lease remaining. They have renovated and added offices to the space since they have relocated to 53 S. Washington. Their leases are NNN leases, where landlord collects an estimated amount ($1,655.23/month) based on the prior year's actual expenses, then is reconciled at year end. The annual base rent increases at a rate of 3% yearly.
Choice Therapeutics also has a 5 year, personally guaranteed lease remaining. They relocated to their current location the beginning of 2024. Their lease is also a NNN lease, where landlord collects an estimated amount ($636.86/month) based on the prior year's actual expenses, then it is reconciled at year end. The annual base rent increases at a rate of 3% yearly.
Choice Therapeutics and M.J. Electric are wonderful tenants and are a pleasure to work with! Monthly they direct deposit their rent and NNN payment on autopay by, if not before the 1st of the month.
Please feel free to reach out via text/call to obtain more information or to present an offer. 248-722-4952. Please do not disturb the tenants! They are aware of the potential sale, but they are running their businesses. $1,399,000