AQRE Advisors is pleased to present the opportunity to acquire a multi-tenant medical retail shopping center in Lake Orion, MI. The +/-50,810 square foot shopping center is 50% occupied, with major tenants including Gateway Pediatric Therapy, Michigan Institute for Interventional Pain, and Christine M. Saad, D.D.D., P.C.
The shopping center is positioned within minutes of downtown Lake Orion and provides excellent visibility from Lapeer Rd. which sees over 38,000 vehicles per day. The Property is located 0.4 miles from Beaumont Medical Center driving the demand for additional medical practices in the area. American Battery Solutions, located just 3 miles from the subject Property has recently announced a $7 million expansion which will triple the size of their current facility and create more than 100 new jobs.
- Value-add medical retail shopping center with 50% occupancy
- The Property is easily accessible, being located just 5.2 miles south of Interstate 75.
- Situated in a strong retail corridor with over 5.4 million square feet of retail within five miles including CVS Pharmacy, Starbucks, Kroger, McDonald’s, and more
- Located 0.4 miles from Lake Orion’s Beaumont Medical Center which features a variety of services including radiology, pharmacy, and laboratory services
- Tenants are below market rent with room for upside
- Current NOI of $302,453 with 50% of the center occupied