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    Stand-Alone Medical Office Building Title is generated by Realmo AI

    37244 S Groesbeck Highway, Clinton Township, MI 48036

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    For Sale
    $1,299,900

    COMMERCIAL - Clinton Township, MI

    Property size:
    6,655 SF
    Lot size:
    1.10 Acres
    Price / SF:
    $195/SF
    Added:
    May 7, 2026
    Days on Market:
    29
    Last Refresh:
    Jun 4 at 7:06 am

    Property Features for 37244 S Groesbeck Highway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    1915-37244-00-1
    Size
    6,655 SF
    Lot size
    1.10 Acres

    Taxes and HOA fees

    Tax Annual Amount
    27298

    Utilities

    Water source
    Public

    Building Details

    Year built
    1972
    Roof type
    Shingle

    We can help!

    Listing Contact
    Michael Donelson

    Listing agent Michael Donelson License #6501391695

    Listing office Realty Executives Home Towne Shelby 49433 Hayes, Port Huron, MI

    Listing date May 7, 2026

    MLS# 50206738

    Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Parkway Office Building built in 1972 with shingle roof and public water service
    • Zoned for medical office use and general office use; within a mile of McLaren Macomb Hospital
    • 3‑suite layout: Suite A 3,854 SF; Suite B 1,054 SF (Edward Jones); Suite C 1,600 SF
    • All 3 suites remodeled within the last 2 years; 12 ft structural ceilings with built‑in drop ceilings
    • All interior walls are movable (no load‑bearing interior walls) and floor plan is completely versatile
    • Parking lot resealed in 24'; AC replaced 21'; each suite separately metered for gas and electric; attached 0.33‑acre vacant lot (about 70 x 207) included

    Overview

    The Parkway Office Building is a stand-alone office structure designed for medical office and general office use. The property offers a flexible floor plan with 12-foot structural ceilings and built-in drop ceilings, and interior walls can be moved since there are no load-bearing interior walls. Each unit is separately metered for gas and electric, supporting independent operations within the building. The three suites have been recently remodeled within the last two years, and updates include an air-conditioning replacement in 2021 and a resealed parking lot in 2024. An extra large marquis sign is included, and a vacant attached lot is included with the sale.

    The building is located in Clinton Township, within one mile of McLaren Macomb Hospital and minutes from Henry Ford Macomb Hospital and several major outpatient facilities. It is positioned on Groesbeck Highway with reported high visibility traffic count of 28,816 vehicles per day.

    The property is well suited for an owner-occupant or investor seeking a medical-office compatible setup with separate metering across suites and convenient parking for patients and clients. The included attached vacant lot provides additional space for creative expansion, while the ability to reconfigure interior walls supports a range of professional office layouts across Suite A, Suite B, and Suite C.

    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 $131.8k $19.80
    − Vacancy −$15.5k −$2.33
    EGI $116.3k $17.47
    − OpEx −$46.5k −$6.99
    NOI $69.8k $10.48
    6,655 SF · lease $19.80/SF/yr · vacancy 11.75% · expense 40.00%

    Alternative Uses

    Best Use
    Healthcare Medical
    $996.7K
    $872.2K – $1.16M (±1% cap)
    NOI $69,772 @ 7.0% cap · market cap 5.37%
    Second Best
    Office B
    $327.3K
    $286.4K – $381.8K (±1% cap)
    NOI $22,910 @ 7.0% cap · market cap 1.76%
    Theoretical Best
    Specialty Retail
    $1.25M
    $1.09M – $1.45M (±1% cap)
    NOI $87,215 @ 7.0% cap · market cap 6.71%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Clinton Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.909149
    Latitude
    42.572451

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    FAQs

    What type of property is this?
    Office building - Versatile office suites with movable interior walls and on-site parking near major medical facilities.
    Where is this office building located?
    The property is located at 37244 S Groesbeck Highway Clinton Township, MI.
    What is the asking price?
    The asking price for this property is $1,299,900.
    What are key features of this property?
    This property features: Parkway Office Building built in 1972 with shingle roof and public water service; Zoned for medical office use and general office use; within a mile of McLaren Macomb Hospital; 3‑suite layout: Suite A 3,854 SF; Suite B 1,054 SF (Edward Jones); Suite C 1,600 SF
    (586) 321-1391
    We can help!
    Listing Contact
    Michael Donelson
    Real Estate License ID: 6501391695
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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.

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    37244 S Groesbeck Highway, Clinton Township, MI 48036
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