Cap Rate of 9.5. New 5 year lease recently signed for main floor. Average gross rents are over $119,000 per year. Possible ROI of 22%. Premiere office building in Gaylord Michigan. Gaylord is the Gateway to all of Northern Michigan. North-South, East-West arteries pass through this hub of business, and commerce. The building covers 12,456 SQFT building across the main floor and full lower level. The main floor has a nice lobby with bathroom, 21 separate offices, a common area, conference room, a kitchenette, and network wiring throughout. Mechanical room has a three boiler system. Main Distribution Facility (MDF) for your network and server equipment contains 220 AMP & 20 AMP circuits.
|--||New Value: $875,000|
|11/15/2018 9:55:00 AM|