211 W Pine Lake Dr, Newaygo, MI 49337

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Building Details:

NAI Wisinski presents the Investment Sale of a single tenant medical office building ideally located on W Pine Lake Drive in Newaygo, Michigan. The building consists of approximately 8,726 square feet, plus a 1,290 square foot basement. This asset offers an investor the opportunity to own a 100% occupied medical office building with a solid leasing history, a strong credit tenant and a corporate lease guarantee. Spectrum Health is the preeminent health care provider in West Michigan and one of the area’s largest employers. It offers a full continuum of health care services utilizing a not-for-profit care model. The subject property is the main urgent care facility for the population in and around the City of Newaygo, while also providing family medicine/primary care and physical therapy services. The property is well maintained and features attractive architecture. The tenant enjoys high street exposure from a large pylon sign, along with great vehicle access within a large, successful, mixed use development. Spectrum Health/Gerber Memorial Medical Office Building is offered at an attractive 9.00% cap rate based on in-place income, representing a value of $1,370,000.