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Government

State of Michigan - Michigan Works!

402 N 1st St, Harrison, MI 48625

Listing Price: $850,000

Cap Rate
9.82%
Tenant Name
Michigan Works!
Years Remaining On Lease
5.5
Gross SF
12,868
Rentable SF
12,868
Price/Gross SF
$66.06
Lease Type
Gross Lease
Rent Per Square Feet
$9.33

Investment Overview

Marcus & Millichap is pleased to present the State of Michigan, Michigan Works! Building, located at 402 N First Street in Harrison, Michigan. This single-tenant building is occupied by the State of Michigan and contains 12,848 square feet of rentable building area, situated on 1.35 acres. Michigan Works! Has been in this location for over 45 years and currently has six years of lease term remaining with a five-year option to extend the lease. The Harrison Michigan Works! Is the only location that services Clare County. The closest Michigan Works branch is in Roscommon County, over 30 Miles away.

Michigan Works! delivers dynamic resources aimed at building the states workforce and ensuring economic opportunity. They connect local talent and job leaders with the advocacy, training, and information tools they need to be successful in their communities. Since March of 2020, over 2.3 million Michigan residents have filed eligible unemployment claims, showing the continued need for services that connect employers with job seeking employees.

In 2007, the building was expanded to accommodate a need for more space. In 2017, as part of a lease renewal, the building was painted, bricks & siding were repaired, landscaping & parking lot lights were updated, and new carpeting in the interior of the building was installed.

Michigan Works! Harrison is located 4.8 miles from Mid Michigan Community College, which has over 3,800 active students enrolled.

The property has strong visibility on North First street, which experiences in excess of 9,300 vehicles per day. The property is located 2.2 miles from US Route 127, a major thoroughfare for travelers heading north, sees in excess of 10,000 vehicles per day. The property is situated in an opportunity zone.

The Strategic location and strong future need for the services Michigan Works! Provides will help ensure the long-term viability and stability of this investment moving forward.

Investment Highlights

  • Single-Tenant State of Michigan Property
  • State of Michigan Has Been Operating at This Location for Over 45 Years
  • Located in an Opportunity Zone
  • 2.2 Miles from US Route 127 10,000+ Vehicles per Day

Exclusively Listed By

Government

State of Michigan - Michigan Works!

Listing Price: $850,000

Cap Rate
9.82%
Tenant Name
Michigan Works!
Years Remaining On Lease
5.5
Gross SF
12,868
Rentable SF
12,868
Price/Gross SF
$66.06
Lease Type
Gross Lease
Rent Per Square Feet
$9.33

Investment Highlights

  • Single-Tenant State of Michigan Property
  • State of Michigan Has Been Operating at This Location for Over 45 Years
  • Located in an Opportunity Zone
  • 2.2 Miles from US Route 127 10,000+ Vehicles per Day

Investment Overview

Marcus & Millichap is pleased to present the State of Michigan, Michigan Works! Building, located at 402 N First Street in Harrison, Michigan. This single-tenant building is occupied by the State of Michigan and contains 12,848 square feet of rentable building area, situated on 1.35 acres. Michigan Works! Has been in this location for over 45 years and currently has six years of lease term remaining with a five-year option to extend the lease. The Harrison Michigan Works! Is the only location that services Clare County. The closest Michigan Works branch is in Roscommon County, over 30 Miles away.

Michigan Works! delivers dynamic resources aimed at building the states workforce and ensuring economic opportunity. They connect local talent and job leaders with the advocacy, training, and information tools they need to be successful in their communities. Since March of 2020, over 2.3 million Michigan residents have filed eligible unemployment claims, showing the continued need for services that connect employers with job seeking employees.

In 2007, the building was expanded to accommodate a need for more space. In 2017, as part of a lease renewal, the building was painted, bricks & siding were repaired, landscaping & parking lot lights were updated, and new carpeting in the interior of the building was installed.

Michigan Works! Harrison is located 4.8 miles from Mid Michigan Community College, which has over 3,800 active students enrolled.

The property has strong visibility on North First street, which experiences in excess of 9,300 vehicles per day. The property is located 2.2 miles from US Route 127, a major thoroughfare for travelers heading north, sees in excess of 10,000 vehicles per day. The property is situated in an opportunity zone.

The Strategic location and strong future need for the services Michigan Works! Provides will help ensure the long-term viability and stability of this investment moving forward.

Exclusively Listed By

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