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664-704 S Lapeer Rd, Lk 22,167 SF 100% Leased Office Building Lake Orion, MI 48362 $5,490,500 CAD ($247.69 CAD/SF) 7.70% Cap Rate
Investment Highlights
- ±22,167 SF multi-tenant retail center in Lake Orion, MI
- Visible location along Lapeer Road, a high traffic commercial corridor
- Upside through converting gross leases to NNN and implementing rent adjustments
- Diverse & service-oriented tenant mix; health, lifestyle, convenience, quick service retail
- Dense rooftops, strong surrounding demographics, and continued growth
Executive Summary
100% occupied with stable tenancy in low vacancy market
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
22,167 SF
Building Class
B
Year Built
1986
Price
$5,490,500 CAD
Price Per SF
$247.69 CAD
Cap Rate
7.70%
NOI
$422,560 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
22,167 SF
Building FAR
0.21
Lot Size
2.43 AC
Zoning
BI
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 09-11-428-011 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,308,054 CAD |
Property Taxes
Parcel Number
09-11-428-011
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,308,054 CAD
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664-704 S Lapeer Rd, Lk
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