10801 W WARREN Avenue, Dearborn, MI 48126

Building Details

Year Built 1954 More

Listing Agency: Got Key'D Realty Show Phone

Listed By: Ali M Beydoun · License #6501394866 Show Phone

Source: Exitrealty

Added: Feb 19, 2025 Changed: Aug 9 Last Checked: Aug 25 at 9:49AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This property presents an opportunity for medical and pharmacy office use, situated on a corner lot with high visibility. Located on West Warren Avenue in Dearborn, Michigan, the property benefits from consistent traffic. The building consists of three units, one of which is currently leased to a medical practice. The remaining two units are available for lease. One unit is suitable for a pharmacy, and the other is suitable for a medical clinic. The entire building is also available.

Key Highlights

• Prime location on a high‑traffic corner of West Warren Avenue in Dearborn, offering excellent visibility and accessibility.
• Opportunity to lease a medical clinic space within a building already housing a reputable medical practice.
• Flexible leasing options: individual units for a pharmacy or medical clinic, or the entire building.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,232

Suggested Prices Based on Cap Rates

Cap Rate 5%

$624,640 $624.6K

Cap Rate 7%

$446,171 $446.2K

Cap Rate 9%

$347,022 $347.0K

What to ask about pricing

Market Conditions

NOI Build-Up for 2,834 SF

Gross rent

$53.7K $18.96/SF

− Vacancy

−$12.1K −$4.27/SF

EGI

$41.6K $14.69/SF

− OpEx

−$10.4K −$3.67/SF

NOI

$31.2K $11.02/SF

Area

Dearborn, MI

Vacancy

22.50%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$624,640

Cap Rate 7%

$446,171

Cap Rate 9%

$347,022

Alternative Uses

Best Use

Specialty Retail

$553.8K

$484.6K – $646.2K (±1% cap)

NOI $38,769 @ 7.0% cap · market cap 969.22%

Second Best

Retail

$498.7K

$436.3K – $581.8K (±1% cap)

NOI $34,906 @ 7.0% cap · market cap 872.65%

Theoretical Best

Office A

$625.2K

$547.0K – $729.4K (±1% cap)

NOI $43,763 @ 7.0% cap · market cap 1,094.08%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Dearborn Wound Center Medical Clinic Health Care Pharmacy Pharmacy Hayat Chiropractic Center Alternative Medicine Practice

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Gym & Fitness Center Kitchen & Bath Showroom Spa & Massage Center Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

615

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 48126, MI

55,863

Population

16,919

Households

3.3

Avg Household Size

28

Median Age

24%

College-Educated

74%

High-School Grad

8.4 sq mi

ZIP Area

6,650

Density / Sq Mi

$42,353

Median Household Income

$27,724

Median Earnings

$1,222

Median Rent

$200,600

Median Home Value

Market

Average Price Trend$/SF for Medical Office Space in Wayne County, MI

$101 Jul

$80.07 Aug

$169 Sep

$160 Oct

Properties on Market for Medical Office Space in Wayne County

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Prime medical and pharmacy office space in Dearborn, Michigan.

Where is this medical office space located?

The property is located at 10801 W WARREN Avenue Dearborn, MI.

What are key features of this property?

This property features: Prime location on a high‑traffic corner of West Warren Avenue in Dearborn, offering excellent visibility and accessibility.; Opportunity to lease a medical clinic space within a building already housing a reputable medical practice.; Flexible leasing options: individual units for a pharmacy or medical clinic, or the entire building.