Medical Office Condominium with Triple-Net
For Sale
$1,620,000
11174 Highland Rd, Hartland, MI 48353
Three leased medical condo units in a multi-building complex with a roof replacement completed in 2025.
Property Size7,753 SF
Price / SF$208.95
Days on Market924
Property Features for 11174 Highland Rd
General Information
Standard status
Active
Size
7,753 SF
Class
B
Total Parking Spaces
40
Property subtype
Office
Building Details
Building Size
7,753 SF
Buildings
1
Stories
1
Listing Agency:
RE/MAX Commercial Brokers & Remax Platinum
Listed By:
John Luke · License #6501229646
(810) 691-2142
Source:
Cpix.resimplifi
Added: Apr 1, 2024
Changed: Oct 10
Last Checked: Oct 11 at 3:04AM
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 RE/MAX Commercial Brokers & Remax Platinum
Investment Insights
Based on property information with market context.
This offering includes three of the four condominium medical office units within a single building in a larger medical complex. The property is leased on a triple-net basis. Lease details referenced in the marketing materials include Detroit Medical Center occupying 4,313 square feet and Mercy Plus Health Care leasing a total of 4,380 square feet across two units. The fourth unit is occupied by Advance Physical Therapy, described as a complimentary user to the existing tenants.
The complex is located off M-59, with the Hartland Millennium Center noted as less than 1 mile east of US-23 on the south side of M-59. The materials describe the area as part of the M-59/US-23 corridor.
For investors or owner-operators seeking a healthcare-oriented asset, this configuration provides multiple secured tenants under triple-net leases, with condominium unit ownership aligning with multi-tenant medical use. The building roof was replaced in 2025, which supports ongoing exterior building maintenance planning. Prospective purchasers are directed to request financial and lease details through the listing office, with a confidentiality agreement required before those items are released.
The complex is located off M-59, with the Hartland Millennium Center noted as less than 1 mile east of US-23 on the south side of M-59. The materials describe the area as part of the M-59/US-23 corridor.
For investors or owner-operators seeking a healthcare-oriented asset, this configuration provides multiple secured tenants under triple-net leases, with condominium unit ownership aligning with multi-tenant medical use. The building roof was replaced in 2025, which supports ongoing exterior building maintenance planning. Prospective purchasers are directed to request financial and lease details through the listing office, with a confidentiality agreement required before those items are released.
Key Highlights
- Three medical office condo units in a multi‑building medical complex
- Year built: 2005
- Leases are triple net (NNN)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,445
Cap Rate
5.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,728,900
$1.7M
Cap Rate 7%
$1,234,929
$1.2M
Cap Rate 9%
$960,500
$960.5K
Market Conditions
NOI Build-Up for 7,753 SF
Gross rent
$165.6K $21.36/SF
− Vacancy
−$21.5K −$2.78/SF
EGI
$144.1K $18.58/SF
− OpEx
−$57.6K −$7.43/SF
NOI
$86.4K $11.15/SF
Area
Livingston County, MI
Vacancy
13.00%
Lease Rate
$21.36 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,728,900
Cap Rate 7%
$1,234,929
Cap Rate 9%
$960,500
Alternative Uses
Best Use
Healthcare Medical
$1.23M
$1.08M – $1.44M
NOI $86,445 @ 7.0% cap · market cap 5.34%
Second Best
Office B
$381.3K
$333.6K – $444.8K
NOI $26,690 @ 7.0% cap · market cap 1.65%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48353, MI
6,422
Population
3,038
Households
2.1
Avg Household Size
45
Median Age
31%
College-Educated
97%
High-School Grad
12.6 sq mi
ZIP Area
510
Density / Sq Mi
$97,163
Median Household Income
$47,127
Median Earnings
$1,529
Median Rent
$290,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Three leased medical condo units in a multi-building complex with a roof replacement completed in 2025.
Where is this medical office space located?
The property is located at 11174 Highland Rd Hartland, MI.
What is the asking price?
The asking price for this property is $1,620,000.
What are key features of this property?
This property features: Three medical office condo units in a multi‑building medical complex; Year built: 2005; Leases are triple net (NNN)
