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Single-Tenant Office Medical

McLaren Internal Medicine

4818 W Professional Dr, Bay City, MI 48706

Listing Price: $1,180,000

Cap Rate
6.75%
Tenant Name
McLaren Bay Region
Years Remaining On Lease
4.3
Gross SF
5,300
Guarantor
Corporate Guarantee
Rentable SF
5,300
Price/Gross SF
$222.64
Lease Type
Modified Gross
Rent Per Square Feet
$18.95

Investment Overview

McLaren Internal Medicine is a 5,300 square-foot medical office located in Bay City, Michigan, sitting on 2.77 acres. The tenant has a corporate guarantee through McLaren Bay Region, a division of McLaren Health Care, and has over 4.5 years remaining on a modified gross lease. There are $0.35/SF rent increases every two years and one five-year option to renew. The next rent increase is set to take place in June 2023. The property is positioned within a medical office park that contains McLaren Bay Special Care Hospital (31 beds), Karmanos Cancer Institute, DaVita Dialysis, and Total Kidney Care. McLaren Bay Region Hospital, a 415-bed acute care facility, is four miles away from the property. McLaren Health Care, headquartered in Grand Blanc, Michigan, is a $6 billion, fully integrated health care delivery system committed to quality, evidence-based patient care and cost efficiency. The McLaren system includes 15 hospitals in Michigan and Ohio, ambulatory surgery centers, imaging centers, a 490-member employed primary and specialty care physician network. McLaren operates Michigan’s largest network of cancer centers and providers, anchored by the Karmanos Cancer Institute, one of only 51 National Cancer Institute-designated comprehensive cancer centers in the U.S. McLaren has 28,000 full, part-time, and contracted employees and more than 90,000 network providers throughout Michigan, Indiana and Ohio. Bay City, Michigan, is located near the Saginaw Bay at the juncture of two major freeways - U.S. 10 and I-75. As the county seat and largest municipality in Bay County, Bay City has been a center of commerce, industry, government, and culture. Bay City has a broad economic base supported by well-known companies such as General Motors Corp./Powertrain, Dow Corning Corp. and S.C. Johnson Inc. Local companies include Michigan Sugar Co. (Big Chief Sugar/Pioneer Sugar) and McLaren Bay Region. Delta College and Saginaw Valley State University, in addition to providing educational opportunities, are also substantial employers in the community.

Investment Highlights

  • Corporate Guarantee Through McLaren Bay Region | A Division of McLaren Health Care
  • Positioned within a Medical Office Park Containing McLaren Bay Special Care Hospital (31 Beds), Karmanos Cancer Institute, DaVita Dialysis, and Total Kidney Care
  • Over 4.5 Years Remaining on Modified Gross Lease
  • $0.35/SF Rent Increases Every Two Years | Next Increase: June 2023
  • McLaren Bay Region Hospital (415 Beds) is Four Miles Away
  • One Mile from Business Interstate-75 (23,591 VPD) | 2.5 Miles from Downtown Bay City
  • Over 69,000 Full-Time Residents & Average Household Income of $61,281 within a Five-Mile Radius

Exclusively Listed By

Single-Tenant Office Medical

McLaren Internal Medicine

Listing Price: $1,180,000

Cap Rate
6.75%
Tenant Name
McLaren Bay Region
Years Remaining On Lease
4.3
Gross SF
5,300
Guarantor
Corporate Guarantee
Rentable SF
5,300
Price/Gross SF
$222.64
Lease Type
Modified Gross
Rent Per Square Feet
$18.95

Investment Highlights

  • Corporate Guarantee Through McLaren Bay Region | A Division of McLaren Health Care
  • Positioned within a Medical Office Park Containing McLaren Bay Special Care Hospital (31 Beds), Karmanos Cancer Institute, DaVita Dialysis, and Total Kidney Care
  • Over 4.5 Years Remaining on Modified Gross Lease
  • $0.35/SF Rent Increases Every Two Years | Next Increase: June 2023
  • McLaren Bay Region Hospital (415 Beds) is Four Miles Away
  • One Mile from Business Interstate-75 (23,591 VPD) | 2.5 Miles from Downtown Bay City
  • Over 69,000 Full-Time Residents & Average Household Income of $61,281 within a Five-Mile Radius

Investment Overview

McLaren Internal Medicine is a 5,300 square-foot medical office located in Bay City, Michigan, sitting on 2.77 acres. The tenant has a corporate guarantee through McLaren Bay Region, a division of McLaren Health Care, and has over 4.5 years remaining on a modified gross lease. There are $0.35/SF rent increases every two years and one five-year option to renew. The next rent increase is set to take place in June 2023. The property is positioned within a medical office park that contains McLaren Bay Special Care Hospital (31 beds), Karmanos Cancer Institute, DaVita Dialysis, and Total Kidney Care. McLaren Bay Region Hospital, a 415-bed acute care facility, is four miles away from the property. McLaren Health Care, headquartered in Grand Blanc, Michigan, is a $6 billion, fully integrated health care delivery system committed to quality, evidence-based patient care and cost efficiency. The McLaren system includes 15 hospitals in Michigan and Ohio, ambulatory surgery centers, imaging centers, a 490-member employed primary and specialty care physician network. McLaren operates Michigan’s largest network of cancer centers and providers, anchored by the Karmanos Cancer Institute, one of only 51 National Cancer Institute-designated comprehensive cancer centers in the U.S. McLaren has 28,000 full, part-time, and contracted employees and more than 90,000 network providers throughout Michigan, Indiana and Ohio. Bay City, Michigan, is located near the Saginaw Bay at the juncture of two major freeways - U.S. 10 and I-75. As the county seat and largest municipality in Bay County, Bay City has been a center of commerce, industry, government, and culture. Bay City has a broad economic base supported by well-known companies such as General Motors Corp./Powertrain, Dow Corning Corp. and S.C. Johnson Inc. Local companies include Michigan Sugar Co. (Big Chief Sugar/Pioneer Sugar) and McLaren Bay Region. Delta College and Saginaw Valley State University, in addition to providing educational opportunities, are also substantial employers in the community.

Exclusively Listed By

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