Building Details

Building Size 2,208 SF

Buildings 1

Stories 1

Listing Agency: Colliers - Ann Arbor

Listed By: James H. Chaconas Show Phone

Source: Cpix.resimplifi

Added: Mar 13, 2025 Changed: Oct 25 Last Checked: Oct 28 at 4:58AM

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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 medical condo suite within Wood Duck Business Park offers a flexible interior layout designed for professional use. The space includes an open floor plan, 1–2 offices or a conference room, an ADA-compliant bathroom, and ample storage.

Conveniently served by plenty of parking, the property is located near Michigan Ave. and Downtown Saline, providing access to the surrounding communities.

Managed locally for added convenience, this suite is well suited for an owner-user looking for a tailored workspace in a dedicated business park setting.

Key Highlights

• Versatile 2,208 SF medical condo with an open floor plan at Wood Duck Business Park
• Includes 1–2 offices/conference room for flexible workspace setup
• ADA‑compliant bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,061

Cap Rate

7.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$681,220 $681.2K

Cap Rate 7%

$486,586 $486.6K

Cap Rate 9%

$378,456 $378.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,208 SF

Gross rent

$66.2K $30.00/SF

− Vacancy

−$9.5K −$4.29/SF

EGI

$56.8K $25.71/SF

− OpEx

−$22.7K −$10.28/SF

NOI

$34.1K $15.43/SF

Area

Washtenaw County, MI

Vacancy

14.30%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$681,220

Cap Rate 7%

$486,586

Cap Rate 9%

$378,456

Alternative Uses

Best Use

Healthcare Medical

$486.6K

$425.8K – $567.7K (±1% cap)

NOI $34,061 @ 7.0% cap · market cap 7.10%

Second Best

Office B

$486.6K

$425.8K – $567.7K (±1% cap)

NOI $34,061 @ 7.0% cap · market cap 7.10%

Theoretical Best

Office A

$648.8K

$567.7K – $756.9K (±1% cap)

NOI $45,414 @ 7.0% cap · market cap 9.46%

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

Property Analytics

Current Use

George M. Daigle, ... Physician Patricia Hoeft, LMFT Physician Patricia Wells Physician Dr. Maureen S. ... Physician Dr. Moina Hassan, ... Physician

Suggested Use

Top Pick Electrical Service Garden Center Law Firm Grocery & Convenience Store Hair Salon Nail Salon

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

243

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 48176, MI

22,833

Population

9,076

Households

2.5

Avg Household Size

44

Median Age

58%

College-Educated

96%

High-School Grad

70.8 sq mi

ZIP Area

323

Density / Sq Mi

$110,987

Median Household Income

$53,263

Median Earnings

$1,161

Median Rent

$384,700

Median Home Value

Market

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 - Versatile 2,208 SF medical condo with an open layout, ADA-compliant bathroom, and parking at Wood Duck Business Park.

Where is this medical office space located?

The property is located at 1235 Industrial Drive Saline, MI.

What is the asking price?

The asking price for this property is $480,000.

What are key features of this property?

This property features: Versatile 2,208 SF medical condo with an open floor plan at Wood Duck Business Park; Includes 1–2 offices/conference room for flexible workspace setup; ADA‑compliant bathroom