Medical Office
16931 W 10 Mile Rd Southfield, MI 48075
For Sale
$230,000
Pending
Turnkey medical office building with a wide-open layout, one private room, updated tile flooring, and ample parking.
Property Size1,208 SF
Days on Market116
Property Features for 16931 W 10 Mile Rd
General Information
- Standard status
- Pending
- Size
- 1,208 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1958
Listing Agency:
Real Broker LLC
(734) 740-7389
Listed By:
Emi Cross
(734) 740-7389
Source:
Elliman
Added: Mar 31
Changed: Jul 23
Last Checked: Jul 23 at 12:55PM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
This versatile 1,208 sq ft building features a wide open layout with one private room, three half baths, and an unfinished basement. Fresh paint throughout and updated tile flooring help create a clean, professional space that’s ready for immediate use, while the unfinished basement can support plumbing changes more easily.
The property offers ample parking and visibility for client access. Walk and bike scores indicate a car-dependent setting.
Overall, the space is set up to accommodate a range of professional uses and is presented as turnkey for an owner-operator or practice looking for a ready-to-occupy facility.
The property offers ample parking and visibility for client access. Walk and bike scores indicate a car-dependent setting.
Overall, the space is set up to accommodate a range of professional uses and is presented as turnkey for an owner-operator or practice looking for a ready-to-occupy facility.
Key Highlights
- 1,208 sq ft medical/professional building built in 1958
- Wide‑open layout with one private room and three half baths
- Unfinished basement with space that may simplify future plumbing changes
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 | $30.4k | $25.20 |
| − Vacancy | −$3.2k | −$2.65 |
| EGI | $27.2k | $22.55 |
| − OpEx | −$10.9k | −$9.02 |
| NOI | $16.3k | $13.53 |
1,208 SF · lease $25.20/SF/yr · vacancy 10.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$233.5K
$204.3K – $272.5K
NOI $16,347 @ 7.0% cap · market cap 7.11%
Second Best
Office B
$59.4K
$52.0K – $69.3K
NOI $4,159 @ 7.0% cap · market cap 1.81%
Theoretical Best
Specialty Retail
$260.6K
$228.0K – $304.0K
NOI $18,239 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar Off Market Nearby
- Dworkis Dog & Cat Hospital — 15555 W 10 Mile Rd, Southfield, MI 48075
- Luv n care animal hospital — 24020 Southfield Rd, Southfield, MI 48075
FAQs
What type of property is this?
Medical Office Space - Turnkey medical office building with a wide-open layout, one private room, updated tile flooring, and ample parking.
Where is this medical office space located?
The property is located at 16931 W 10 Mile Rd Southfield, MI.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: 1,208 sq ft medical/professional building built in 1958; Wide‑open layout with one private room and three half baths; Unfinished basement with space that may simplify future plumbing changes
