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Single-Tenant Office Medical

McLaren Macomb-Gratiot Medical Building

36500 South Gratiot Ave, Clinton Township, MI 48035

Listing Price: $3,780,000

Cap Rate
7.35%
Tenant Name
McLaren Macomb
Years Remaining On Lease
5.5
Gross SF
17,333
Guarantor
Corporate Guarantee
Rentable SF
17,333
Price/Gross SF
$218.08
Lease Type
Double Net
Rent Per Square Feet
$16.02

Investment Overview

Marcus & Millichap is pleased to present McLaren Macomb - Gratiot Medical Building, a 17,333 square-foot medical office property in Clinton Township, Michigan. The property is situated on 1.89 acres with ample parking. The building is 100 percent leased by McLaren Macomb and recently underwent modernization upgrades for tenant improvements, totaling $260,000. McLaren has two, double-net leases in place with over five years of term remaining. The primary lease is for the main practice, occupying 15,763 square-feet and contains $0.25 per square foot annual rent increases and one five-year option to renew. The secondary lease is for the remaining 1,570 square-feet located in the basement, which is used for storage.

The clinic represents a strategic asset for McLaren Macomb, a subsidiary of the highly regarded McLaren Health Care Corporation, showcasing an A1 Moody’s and AA- Fitch rating for its parent entity. As the sole occupant, McLaren Macomb has solidified the site’s role within its healthcare provision network. This property is not only critical due to its proximity to the affiliated 288-bed hospital but also serves as a hub for McLaren’s robust residency program, thereby attracting additional funding and enhancing the clinic’s offerings. Staffed by a dedicated team of eight physicians, physician assistants, and a cadre of residents, the clinic is outfitted with an imaging room, lab, three procedure rooms, and 27 exam rooms, reflecting its commitment to delivering specialized patient care.

The clinic’s advantageous location on South Gratiot Avenue, coupled with its immediate access to I-94, ensures seamless connectivity for patients and staff alike. With a daily traffic volume that speaks to its accessibility, the property is further buoyed by its adjacency to national retailers and other medical facilities. This, combined with its critical function within McLaren’s healthcare delivery system and the area’s economic strengths—characterized by significant employers and a young professional talent pool—positions the Gratiot Clinic as a valuable and strategic component of the region’s healthcare infrastructure.

Investment Highlights

  • Double-Net Leases | Over Five Years of Term Remaining | $0.25 per Square Foot Annual Rent Increases
  • Recent Modernization Upgrades for Tenant Improvements in 2018 ($260K)
  • Services Offered On-Site: Internal Medicine, Multispecialty, Orthopedics, General Surgery, Vascular Surgery, Trauma Clinic, Urology, Podiatry, Women's Health, Behavioral Health, & Laboratory Services
  • McLaren Macomb is a Subsidiary of McLaren Health Care (Moody's: A1 | Fitch: AA-)
  • Two Miles South of McLaren Macomb Hospital (288-Bed Tertiary Teaching Hospital)
  • Adjacent to a Retail Center Anchored by Lowe's
  • Population of 227,607 People and an Average Household Income of $71,269 Within a Five-Mile Radius
  • Easily Accessible Given Close Proximity to Interstate-94 (109,967 Vehicles per Day) - Positioned on Heavily Trafficked Gratiot Ave (48,555 Vehicles per Day) Near Corner of Metro Parkway (47,245 Vehicles per Day)

Exclusively Listed By

Financing By

Single-Tenant Office Medical

McLaren Macomb-Gratiot Medical Building

Listing Price: $3,780,000

Cap Rate
7.35%
Tenant Name
McLaren Macomb
Years Remaining On Lease
5.5
Gross SF
17,333
Guarantor
Corporate Guarantee
Rentable SF
17,333
Price/Gross SF
$218.08
Lease Type
Double Net
Rent Per Square Feet
$16.02

Investment Highlights

  • Double-Net Leases | Over Five Years of Term Remaining | $0.25 per Square Foot Annual Rent Increases
  • Recent Modernization Upgrades for Tenant Improvements in 2018 ($260K)
  • Services Offered On-Site: Internal Medicine, Multispecialty, Orthopedics, General Surgery, Vascular Surgery, Trauma Clinic, Urology, Podiatry, Women's Health, Behavioral Health, & Laboratory Services
  • McLaren Macomb is a Subsidiary of McLaren Health Care (Moody's: A1 | Fitch: AA-)
  • Two Miles South of McLaren Macomb Hospital (288-Bed Tertiary Teaching Hospital)
  • Adjacent to a Retail Center Anchored by Lowe's
  • Population of 227,607 People and an Average Household Income of $71,269 Within a Five-Mile Radius
  • Easily Accessible Given Close Proximity to Interstate-94 (109,967 Vehicles per Day) - Positioned on Heavily Trafficked Gratiot Ave (48,555 Vehicles per Day) Near Corner of Metro Parkway (47,245 Vehicles per Day)

Investment Overview

Marcus & Millichap is pleased to present McLaren Macomb - Gratiot Medical Building, a 17,333 square-foot medical office property in Clinton Township, Michigan. The property is situated on 1.89 acres with ample parking. The building is 100 percent leased by McLaren Macomb and recently underwent modernization upgrades for tenant improvements, totaling $260,000. McLaren has two, double-net leases in place with over five years of term remaining. The primary lease is for the main practice, occupying 15,763 square-feet and contains $0.25 per square foot annual rent increases and one five-year option to renew. The secondary lease is for the remaining 1,570 square-feet located in the basement, which is used for storage. The clinic represents a strategic asset for McLaren Macomb, a subsidiary of the highly regarded McLaren Health Care Corporation, showcasing an A1 Moody’s and AA- Fitch rating for its parent entity. As the sole occupant, McLaren Macomb has solidified the site’s role within its healthcare provision network. This property is not only critical due to its proximity to the affiliated 288-bed hospital but also serves as a hub for McLaren’s robust residency program, thereby attracting additional funding and enhancing the clinic’s offerings. Staffed by a dedicated team of eight physicians, physician assistants, and a cadre of residents, the clinic is outfitted with an imaging room, lab, three procedure rooms, and 27 exam rooms, reflecting its commitment to delivering specialized patient care. The clinic’s advantageous location on South Gratiot Avenue, coupled with its immediate access to I-94, ensures seamless connectivity for patients and staff alike. With a daily traffic volume that speaks to its accessibility, the property is further buoyed by its adjacency to national retailers and other medical facilities. This, combined with its critical function within McLaren’s healthcare delivery system and the area’s economic strengths—characterized by significant employers and a young professional talent pool—positions the Gratiot Clinic as a valuable and strategic component of the region’s healthcare infrastructure.

Exclusively Listed By

Financing By

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