38525 Eight Mile Rd, Livonia, MI
5,846 SF medical office building on 1.51 acres.
- Added:
- Mar 27, 2025
- Days on Market:
- 443
- Last Refresh:
- May 20 at 8:59 pm
Property Features for 38525 Eight Mile Rd
General Information
- Standard status
- Active
- Size
- 5,846 SF
- Lot size
- 1.53 Acres
- Property subtype
- OFFICE
Listing agent Petar Elieff License #6501433306
Listing office Iconic Real Estate (313) 603-4266
Listing date Mar 27, 2025
Source Moodyscre
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Iconic Real Estate
HighLights
- 5,846 Total SF former Internal Medicine Office suitable for owner/occupier.
- Includes 13 exam rooms, lobby, and kitchen; option for small pharmacy.
- Located on 1.51 acres.
- 28‑space parking lot.
- Eastern building is the historical Joshua Morrell Simmons House.
- Zoned RUF.
Overview
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 | $117.2k | $20.04 |
| − Vacancy | −$14.6k | −$2.49 |
| EGI | $102.6k | $17.55 |
| − OpEx | −$41.0k | −$7.02 |
| NOI | $61.6k | $10.53 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- VetIQ Petcare — 20401 Haggerty Rd, Township of Northville, MI 48167
Location Insight
- Map
- Local Demand
- City
- Livonia
- County
- Wayne
- State
- Michigan
- Longitude
- -83.4251
- Latitude
- 42.4387
