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    2561 Elizabeth Lake Road Waterford, MI 48328

    View on Map
    For Sale
    $450,000

    COMMERCIAL - Waterford, MI

    Type:Office
    Property size:
    2,500 SF
    Lot size:
    1.90 Acres
    Added:
    Oct 27, 2025
    Days on Market:
    157
    Last Refresh:
    Apr 1 at 2:06 am

    Property Features for 2561 Elizabeth Lake Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Bathrooms
    3
    Rooms
    Bathroom 1, Bathroom 3, Bathroom 2, 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

    TaxYear
    2024
    TaxDescription
    T3N, R9E, SEC 25 SUPERVISORS PLAT NO 1 LOT 3
    TaxAnnualAmount
    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.

    Overview

    Established Medical Office on Elizabeth Lake

    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.
    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

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    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
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    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
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