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Vivent Health - HIV Treatment Facility (NNN) 64 Victor St 15,500 SF Office Building Highland Park, MI 48203 $4,026,547 CAD ($259.78 CAD/SF) 7.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute Net Lease - Tenant covers all expenses, including taxes, insurance, and maintenance, ensuring predictable, passive cash flow.
- Tenant Funded Renovations - $2 million in tenant-funded upgrades recently completed in Q2 2025.
- Rent Escalations - Lease provides 3% annual rent increases starting in year six, continuing through the first two 5-year renewal option periods.
- Proximity to Downtown Detroit - Located 3 miles north of Detroit’s CBD, with strong access to major hospitals and employers.
- Strong Population Density - Located in a dense Michigan market with 345,000 residents within 5 miles, providing a strong customer base for Vivent.
EXECUTIVE SUMMARY
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 north of 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.
In State Broker: Brian Brockman | Bang Realty-Michigan, Inc | MI License #: 6502428679
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 north of 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.
In State Broker: Brian Brockman | Bang Realty-Michigan, Inc | MI License #: 6502428679
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$291,946
|
$18.84
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $291,946 |
| Annual Per SF | $18.84 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
15,500 SF
Building Class
B
Year Built/Renovated
1963/2024
Price
$4,026,547 CAD
Price Per SF
$259.78 CAD
Cap Rate
7.25%
NOI
$291,946 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
15,500 SF
Building FAR
0.43
Lot Size
0.83 AC
Parking
39 Spaces (2.52 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Fenced Lot
- Signage
- Reception
- Air Conditioning
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Health Care and Social Assistance
- 15,500 SF
- $18.84 CAD
- Triple Net
- Dec 2034
For more than 40 years, the team at Vivent Health have been relentless in the fight against HIV, from advocating for policy change to protecting communities through prevention efforts to welcoming and caring for all who come through our doors. They offer people living with HIV the highest-quality care, including wraparound social services designed to support the whole person. And perhaps most of all, they provide a safe, judgment-free zone for everyone they serve, regardless of whom they love, the color of their skin, where they live, or how much money they have. All so they can help people living with HIV live long, healthy lives, and work toward ending the HIV epidemic.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Health Care and Social Assistance | 15,500 SF | $18.84 CAD | Triple Net | Dec 2034 |
1 1
PROPERTY TAXES
| Parcel Number | 43-008-01-0064-000 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $338,160 CAD |
PROPERTY TAXES
Parcel Number
43-008-01-0064-000
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$338,160 CAD
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Vivent Health - HIV Treatment Facility (NNN) | 64 Victor St
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