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For Sale

Riverwood Research Center

24461-24491 West Ten Mile Road
Southfield, Michigan 48034

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For Sale

Riverwood Research Center

24461-24491 West Ten Mile Road
Southfield, Michigan 48034

- Property Information

eCODE 547
County: Oakland
Property Type: Medical, Office
Total Building SF: ± 68,142 SF
Occupancy Rate: 100%
Sale Price: TBD by the Market

- Property Details

Occupancy Type: Multi Tenant
Year Built: 1987
# Acres: 5.970
Zoning: OS - Office Service
Parcel ID: 79-24-29-201-006
Parking Type: Surface
# Spaces: 249
Parking Ratio: 3.66
Completion Status: Existing

- Additional Information

  • Stable ±68,142 SF research building for sale
  • Occupancy 100%
  • In-place NOI as of January 2017 $725,085
  • New long-term lease with PACE of Southeast Michigan until 2031, partially guaranteed by Henry Ford Hospital System
  • Significant landlord and tenant investment associated with new tenancy
  • DaVita Dialysis has been a tenant for almost 10 years
  • Nearly 60% of current rent roll comprised of medical-related tenants
  • Excellent tenant synergies within the medical field with onsite MRI and renal care
  • Lack of competing product in immediate trade area
  • Average HH incomes near $70,000/year within 3 miles
  • Positioned just west of Telegraph Road (M-24) and 1.5 miles to I-696, Northwestern Hwy (M-10) and John C. Lodge Fwy
  • No set asking price – sale price to be determined by the market

- For more information, contact:

248.324.2000 Request a call