Office

MSC

20901 Lahser Rd, Southfield, MI 48033

Listing Price: $7,295,000

Cap Rate
7.54%
Gross SF
50,000
Rentable SF
50,000
Price/Gross SF
$145.90
Lot Size
5.53 acres
Year Built
2000

Investment Overview

Now available to the investment market is the attractive MSC facility, a single tenant net leased office property in Southfield, Michigan. Th is contemporary facility is a beautiful 50,000-square foot single story, single tenant office building centrally located in suburban Detroit. MSC Industrial Supply, a $3.36 billion top-line company, is one of the nation’s largest direct marketers and distributors of a broad range of metalworking and maintenance, repair and operations (MRO) products to customers throughout North America. Built in 2000 as part of a larger 65,000-square foot building, the 50,000-square foot leased facility is in a site plan condominium ownership structure. Th e property is situated in a professional tech/business park in an excellent suburban submarket of Detroit that has over 23 million square feet of corporate class A and B office space and a deep tenant base. Recently a 5-year lease extension was completed with MSC taking the lease out through December of 2027. Currently there is a NNN rental rate of $10.75 per square foot increasing in February to $11.00/sf, which falls well into the submarket rental range. Th is allows an investor to buy in at a “market” level for this high quality, corporate office finish. Th is facility has $0.25 per square foot annual increases through 2027. MSC initially occupied the building in June of 2005 and has since executed multi-year lease extensions with the latter just occurring in September of 2020. Th rough the occupancy, MSC together with ownership has improved and maintained the facility in excellent corporate condition. Th is property offers an investor an opportunity to own a pride of ownership property in Oakland County, the seventh wealthiest county in the United States ranked by median household income.

Investment Highlights

  • Attractive Net Leased Offi ce Property with Expiration in December of 2027
  • Long Tenant Occupancy, Occupied Facility Since 2005, Recent Renewal
  • Annual $0.25 per Square Foot Rent Increases

Exclusively Listed By

Listing Price: $7,295,000

Cap Rate
7.54%
Gross SF
50,000
Rentable SF
50,000
Price/Gross SF
$145.90
Lot Size
5.53 acres
Year Built
2000

Investment Highlights

  • Attractive Net Leased Offi ce Property with Expiration in December of 2027
  • Long Tenant Occupancy, Occupied Facility Since 2005, Recent Renewal
  • Annual $0.25 per Square Foot Rent Increases

Investment Overview

Now available to the investment market is the attractive MSC facility, a single tenant net leased office property in Southfield, Michigan. Th is contemporary facility is a beautiful 50,000-square foot single story, single tenant office building centrally located in suburban Detroit. MSC Industrial Supply, a $3.36 billion top-line company, is one of the nation’s largest direct marketers and distributors of a broad range of metalworking and maintenance, repair and operations (MRO) products to customers throughout North America. Built in 2000 as part of a larger 65,000-square foot building, the 50,000-square foot leased facility is in a site plan condominium ownership structure. Th e property is situated in a professional tech/business park in an excellent suburban submarket of Detroit that has over 23 million square feet of corporate class A and B office space and a deep tenant base. Recently a 5-year lease extension was completed with MSC taking the lease out through December of 2027. Currently there is a NNN rental rate of $10.75 per square foot increasing in February to $11.00/sf, which falls well into the submarket rental range. Th is allows an investor to buy in at a “market” level for this high quality, corporate office finish. Th is facility has $0.25 per square foot annual increases through 2027. MSC initially occupied the building in June of 2005 and has since executed multi-year lease extensions with the latter just occurring in September of 2020. Th rough the occupancy, MSC together with ownership has improved and maintained the facility in excellent corporate condition. Th is property offers an investor an opportunity to own a pride of ownership property in Oakland County, the seventh wealthiest county in the United States ranked by median household income.

Exclusively Listed By

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