• Year Built: 1981
24430 Ford Road is an office property for lease in Dearborn Heights, MI.
SVN/Stewart Commercial Group is pleased to present this Single Tenant Medical Office Building. The building was built in 1981 and completely renovated in 2012 into a state of the art surgical center. It has 12,408 square feet of rentable space comprised of 2 units. The primary tenant is Associated Surgical Center and they have a master lease in place for the entire building. A second separate unit is occupied by a pain management clinic who subleases from the primary tenant. Associated Surgical Center signed a 10-year lease in January 2013 with 3% annual increases. The remaining lease term is 6 years and 9 months and there is 5-year renewal option in the lease that also includes 3% annual increases.
Associated Surgical Center is a successful independent, licensed, Medicare-certified ambulatory (outpatient, same-day) facility providing excellent surgical and pain management services.
This property has a Certificate of Need License. This State issued certificate prevents unnecessary duplication of health services by selecting the best proposal among competing applicants. This certification protects the investment.
Extensive capital improvements put into the ambulatory surgery center by the tenant ensure the long-term viability of this location for an incoming investor.
• 3% Annual Rent Bumps
• 9.04 % Cap Rate on In Place Income
• Remaining Lease Term just under 7 years
• Close to Major Hospital Systems
• Extensive investment in space build out by Tenant
• Michigan Certificate of Need in place (protects from competition)
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- Nicole Hubert, agent and Rofo Pro