Medical Office
2561 Elizabeth Lake Road Waterford, MI 48328
COMMERCIAL - Waterford, MI
Type:Office
Property size:
2,500 SFLot size:
1.90 AcresPrice / SF:
$180/SF- Added:
- Oct 27, 2025
- Days on Market:
- 257
- Last Refresh:
- Jul 10 at 10:06 am
Property Features for 2561 Elizabeth Lake Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Bathrooms
- 3
- Rooms
- Basement, Bathroom 1, Bathroom 3, Bathroom 2
- 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
Listing agent Robert Lawrence (248) 705-2086
Listing office @properties Christie's Int'l 400 S Old Woodward Ave #100, Birmingham, MI (248) 850-8632
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.
Investment Insights
Based on property information with market context.
This established medical office is positioned along the Elizabeth Lake Road corridor and is already configured for medical use. The interior includes multiple exam rooms and a welcoming reception area with separate sick and well sides, along with dedicated lab space. A full basement adds practical support space, including a staff break room and ample storage.
The property is offered for sale in Waterford Township, on a parcel of about 1.9 acres, with additional acreage noted for future expansion or development. It is located near retail and residential neighborhoods, with access to major thoroughfares.
While new ownership may consider cosmetic updates, the building is described as fully functional and ready for occupancy, supported by an existing layout intended to support medical or wellness use.
The property is offered for sale in Waterford Township, on a parcel of about 1.9 acres, with additional acreage noted for future expansion or development. It is located near retail and residential neighborhoods, with access to major thoroughfares.
While new ownership may consider cosmetic updates, the building is described as fully functional and ready for occupancy, supported by an existing layout intended to support medical or wellness use.
Key Highlights
- Established medical office on Elizabeth Lake Road corridor in Waterford Township
- Configured for medical use with multiple exam rooms and a reception area with separate sick and well sides
- Includes dedicated lab space for on‑site medical services
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
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.
| 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 Uses
Best Use
Healthcare Medical
$483.3K
$422.9K – $563.9K
NOI $33,831 @ 7.0% cap · market cap 7.52%
Second Best
Office B
$122.9K
$107.6K – $143.4K
NOI $8,606 @ 7.0% cap · market cap 1.91%
Theoretical Best
Specialty Retail
$539.2K
$471.8K – $629.1K
NOI $37,746 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar For Sale Nearby
Similar Off Market Nearby
- Waterford Animal Clinic — 3711 Elizabeth Lake Rd, Waterford Twp, MI 48328
FAQs
What type of property is this?
Medical Office Space - Medical office configured with exam rooms, separate sick and well reception areas, lab space, and a full basement.
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 on Elizabeth Lake Road corridor in Waterford Township; Configured for medical use with multiple exam rooms and a reception area with separate sick and well sides; Includes dedicated lab space for on‑site medical services
