Former Medical Office on
1004 West Caro Rd Caro, MI 48723
For Sale
$349,000
FORMER MEDICAL OFFICE FOR SALE
Property Size1,250 SF
Lot Size1.13 Acres
Price / SF$279.20
Days on Market252
Property Features for 1004 West Caro Rd
General Information
Standard status
Active
Property type
Medical space, Other office properties, Office buildings, Healthcare properties, Office Spaces
Size
1,250 SF
Class
A
Total Parking Spaces
15
Lot size
1.13 Acres
Building Details
Buildings
1
Stories
1
Units
1
Listing Agency:
(989) 551-6600
Listed By:
Evan
(989) 551-6600
Added: Nov 17, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This property, located on a high-visibility corner lot on M-81, offers exceptional exposure for businesses seeking consistent traffic in Caro. Situated on a heavily traveled section of M-81, the site benefits from its location within a thriving commercial corridor, surrounded by national and regional franchises. The corner placement provides excellent ingress and egress, wide sightlines, and signage opportunities, making it suitable for retail, service, restaurant, or redevelopment use. The property is a former medical office. With daily traffic counts supporting high-volume operations and neighboring businesses driving customer flow, this location is a premier commercial spot in the Caro market. The 1.13-acre lot contains a 1,250-square-foot building. This property on M-81 offers the visibility, accessibility, and commercial momentum needed for success.
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 | $26.7k | $21.36 |
| − Vacancy | −$1.6k | −$1.28 |
| EGI | $25.1k | $20.08 |
| − OpEx | −$10.0k | −$8.03 |
| NOI | $15.1k | $12.05 |
1,250 SF · lease $21.36/SF/yr · vacancy 6.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$215.1K
$188.2K – $251.0K
NOI $15,059 @ 7.0% cap · market cap 4.31%
Second Best
Office B
$178.2K
$156.0K – $207.9K
NOI $12,476 @ 7.0% cap · market cap 3.57%
Theoretical Best
Multifamily LT 5
$906.5K
$793.2K – $1.06M
NOI $63,454 @ 7.0% cap · market cap 18.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Medical space - FORMER MEDICAL OFFICE FOR SALE
Where is this medical space located?
The property is located at 1004 West Caro Rd Caro, MI.
What is the asking price?
The asking price for this property is $349,000.
