Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Established Medical Office on Elizabeth Lake Title is generated by Realmo AI

    2561 Elizabeth Lake Road, Waterford, MI 48328

    View on Map
    Claim this Listing
    For Sale
    $450,000

    COMMERCIAL - Waterford, MI

    Type:Office
    Property size:
    2,500 SF
    Lot size:
    1.90 Acres
    Price / SF:
    $180/SF
    Added:
    Oct 27, 2025
    Days on Market:
    207
    Last Refresh:
    May 21 at 9:06 pm

    Property Features for 2561 Elizabeth Lake Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Bathrooms
    3
    Rooms
    Bathroom 2, Bathroom 1, Bathroom 3, Basement
    Interior features
    Broadband
    Standard status
    Active
    APN
    13-25-328-011
    Size
    2,500 SF
    Lot size
    1.90 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    T3N, R9E, SEC 25 SUPERVISORS PLAT NO 1 LOT 3
    Tax Annual Amount
    9558

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1962
    Number of units
    1
    Building materials
    Brick

    We can help!

    Listing Contact
    Robert Lawrence
    Robert Lawrence

    Listing agent Robert Lawrence

    Listing office @properties Christie's Int'l 400 S Old Woodward Ave #100, Birmingham, MI

    Listing date Oct 27, 2025

    MLS# 25055101

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Established medical office configured for immediate occupancy, minimizing downtime and build‑out costs.
    • Prime location on Elizabeth Lake Road with high visibility and steady traffic.
    • Layout includes multiple exam rooms, reception area with separate sick/well sides, and dedicated lab space.
    • Generous parcel with additional acreage offers expansion or development potential.
    • Full basement with staff break room and ample storage.
    • Conveniently located near retail, residential neighborhoods, and major thoroughfares.

    Overview

    Located along the busy Elizabeth Lake Road corridor in Waterford Township, this established medical office offers exceptional visibility and convenience. Currently home to an active pediatric practice, the 2,500-square-foot property is configured for medical use. The layout includes multiple exam rooms, a reception area with separate sick and well sides, dedicated lab space, and a full basement. The basement features a staff break room and ample storage. The existing layout supports a transition for a variety of medical or wellness practices. New owners may wish to make cosmetic updates. Situated on a 1.9-acre parcel with additional acreage, the property presents options for future expansion or development. Its location near retail, residential neighborhoods, and major thoroughfares ensures steady traffic and long-term growth potential.

    Financial Insights

    Value Estimation Calculated for Healthcare Medical

    Conservative
    $375.9K
    NOI $33,831 @ 9.00% cap · cautious / downside scenario
    Moderate
    $483.3K
    NOI $33,831 @ 7.00% cap · market / base-case scenario
    Aggressive
    $676.6K
    NOI $33,831 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Healthcare Medical

    Component $ $/SF
    Gross rent $63.0k $25.20
    − Vacancy −$6.6k −$2.65
    EGI $56.4k $22.55
    − OpEx −$22.6k −$9.02
    NOI $33.8k $13.53
    2,500 SF · lease $25.20/SF/yr · vacancy 10.50% · expense 40.00%

    Alternative Use Scenarios

    Best Use
    Healthcare Medical
    $483.3K
    $422.9K – $563.9K (±1% cap)
    NOI $33,831 @ 7.0% cap · market cap 7.52%
    Second Best
    Office B
    $122.9K
    $107.6K – $143.4K (±1% cap)
    NOI $8,606 @ 7.0% cap · market cap 1.91%
    Theoretical Best
    Specialty Retail
    $539.2K
    $471.8K – $629.1K (±1% cap)
    NOI $37,746 @ 7.0% cap · market cap 8.39%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Waterford Animal Clinic — 3711 Elizabeth Lake Rd, Waterford Twp, MI 48328

    Location Insight

    • Map
    • Local Demand
    City
    Waterford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.336981
    Latitude
    42.638755

    Nearby Similar for Sale

    • $649,000
      5,081 SF

      Commercial Building on Corner Lot

      Four-unit commercial building with high visibility and income potential.
      1362 Huron Street, Waterford, MI 48328
      View Details
    • $499,900
      2,519 SF

      Commercial Building on Dixie Highway

      2,500+ sq ft commercial building in high-traffic area.
      4680 Dixie Highway, Waterford, MI 48329
      View Details
    • $120,000
      3,628 SF

      Asian Grocery & Restaurant Opportunity

      Turnkey Asian grocery and restaurant in prime Waterford location.
      2510 Dixie Highway, Waterford, MI 48328
      View Details
    • $1,749,900
      10,468 SF

      Waterford Marina on Loon Lake

      Marina with boat docks and storage on Loon Lake.
      4030 Dixie Highway, Waterford, MI 48329
      View Details
    • $450,000
      1,493 SF

      Waterford Commercial Property For Sale

      Commercial property in Waterford, MI, suitable for retail or office.
      101 N Telegraph Road, Waterford, MI 48328
      View Details
    • $650,000
      4,000 SF

      Self-Serve Car Wash For Sale

      4-bay car wash with vacuum stations in high-traffic area.
      1400 Airport Rd, Waterford, MI 48328
      View Details
    • $450,000
      2,292 SF

      Bar and Restaurant with License

      Bar and restaurant with liquor license on 0.71 acres.
      2661 DIXIE, Waterford, MI 48328
      View Details
    • $1,300,000
      12,000 SF

      Versatile Commercial Building on Cooley Lake

      Adaptable commercial asset in a thriving growth market.
      7570 Cooley Lake Rd, WaterfordCharterTownship_Oakland, MI 48327
      View Details
    • $425,000
      3,714 SF

      Waterford Office Building For Sale

      Well-maintained office building on Highland Road, ideal for owner-user.
      5685 Highland Road, Waterford, MI 48327
      View Details
    • $499,900
      2,500 SF

      Commercial Building on Dixie Highway

      2,500 SF commercial building on high-traffic Dixie Highway.
      4680 Dixie Hwy, WaterfordCharterTownship_Oakland, MI 48329
      View Details
    • $170,000
      1,380 SF

      Remodeled Office Space For Sale

      Remodeled office space with multiple suites available for sale.
      4512 Dixie Highway, Waterford, MI 48329
      View Details
    • $640,000
      2,815 SF

      Unique Commercial Property with Garage

      Renovated commercial space with garage, office, and bathroom.
      2580 Dixie Highway, Waterford, MI 48328
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Medical office building on Elizabeth Lake Road in Waterford Township.
    Where is this medical office space located?
    The property is located at 2561 Elizabeth Lake Road Waterford, MI.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Established medical office configured for immediate occupancy, minimizing downtime and build‑out costs.; Prime location on Elizabeth Lake Road with high visibility and steady traffic.; Layout includes multiple exam rooms, reception area with separate sick/well sides, and dedicated lab space.
    (248) 705-2086
    We can help!
    Listing Contact
    Robert Lawrence
    Robert Lawrence
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2561 Elizabeth Lake Road, Waterford, MI 48328
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!