Veterinary Practice and Building For
For Sale
$650,000
28730 Harper Ave, St Clair Shores, MI 48081
Thriving veterinary practice and building in prime location for sale.
Property Size2,264 SF
Lot Size0.25 Acres
Days on Market164
Property Features for 28730 Harper Ave
General Information
Standard status
Active
Size
2,264 SF
Lot size
0.25 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,317
Building Details
Building Size
2,264 SF
Year Built
1957
Listing Agency:
(810) 678-2246
Listed By:
William J Holden
(810) 678-2246
Source:
Elliman
Added: Mar 11
Changed: Aug 14
Last Checked: Aug 21 at 7:50AM
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 William J Holden
Investment Insights
Based on property information with market context.
This property presents an opportunity to acquire a business and building situated in a prime location. Currently operating as a turnkey veterinary practice, the property is also suitable for other medical or office uses. The site features two driveways designed to facilitate ingress and egress, along with a private parking lot. The sale encompasses both the business and the real estate. An inventory list of equipment is available for interested parties.
Key Highlights
- Thriving business and building included in sale
- Prime location
- Turnkey veterinary practice (or other medical/office use)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,736
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$474,720
$474.7K
Cap Rate 7%
$339,086
$339.1K
Cap Rate 9%
$263,733
$263.7K
Market Conditions
NOI Build-Up for 2,264 SF
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.
Gross rent
$44.8K $19.80/SF
− Vacancy
−$5.3K −$2.33/SF
EGI
$39.6K $17.47/SF
− OpEx
−$15.8K −$6.99/SF
NOI
$23.7K $10.48/SF
Area
Macomb County, MI
Vacancy
11.75%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$474,720
Cap Rate 7%
$339,086
Cap Rate 9%
$263,733
Alternative Uses
Best Use
Healthcare Medical
$339.1K
$296.7K – $395.6K
NOI $23,736 @ 7.0% cap · market cap 3.65%
Second Best
Office B
$111.3K
$97.4K – $129.9K
NOI $7,794 @ 7.0% cap · market cap 1.20%
Theoretical Best
Specialty Retail
$423.9K
$370.9K – $494.5K
NOI $29,670 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
811
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48081, MI
20,496
Population
9,669
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
95%
High-School Grad
3.9 sq mi
ZIP Area
5,255
Density / Sq Mi
$75,735
Median Household Income
$51,140
Median Earnings
$1,272
Median Rent
$202,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Doc McStuffin's Pet Clinic — 28730 Harper Ave, St Clair Shores, MI 48081
- Doc McStuffin Pet Clinic — 28730 Harper Ave, St Clair Shores, MI 48081
- Karter Animal Hospital — 28730 Harper Ave, St Clair Shores, MI 48081
Frequently Asked Questions
What type of property is this?
Medical Office Space - Thriving veterinary practice and building in prime location for sale.
Where is this medical office space located?
The property is located at 28730 Harper Ave St Clair Shores, MI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Thriving business and building included in sale; Prime location; Turnkey veterinary practice (or other medical/office use)
