Medical Office Condo with Main-Road
For Sale
Contact for pricing
42450 Hayes Rd, Clinton Township, MI 48038
Turn-key medical/office condo with full buildout, premium finishes, and 43 surface parking spaces.
Property Size6,000 SF
Price / SF$115.83
Days on Market472
Property Features for 42450 Hayes Rd
General Information
Standard status
Active
Size
6,000 SF
Class
A
Total Parking Spaces
43
Property subtype
OFFICE
Zoning
B-2
Lease Type
FS
Additional Details
Road Access
Yes
Amenities
Monument Signage
Building Details
Year Built
2002
Listing Agency:
NAI Farbman - Corporate
(248) 563-0739
Listed By:
Wendy Acho · License #6501411463
(248) 563-0739
Source:
Moodyscre
Added: Apr 25, 2025
Changed: Jul 28
Last Checked: Aug 9 at 7:09AM
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 NAI Farbman - Corporate
Investment Insights
Based on property information with market context.
This medical/office condo offers a total of 6,000 square feet with a main level and a lower level, each described as 3,000 square feet. The space is presented as turn-key with full buildout and premium finishes, and the building was constructed in 2002 as a Class A property. Monument signage is also noted.
The property is located at the corner of Hayes Rd and Canal Rd, with 245 feet of frontage along Hayes Rd. It is described as having excellent main-road visibility, and the site offers 43 surface parking spaces.
The property is listed as being in the B-2 Community Business District.
The property is located at the corner of Hayes Rd and Canal Rd, with 245 feet of frontage along Hayes Rd. It is described as having excellent main-road visibility, and the site offers 43 surface parking spaces.
The property is listed as being in the B-2 Community Business District.
Key Highlights
- Turn‑key medical/office condo with full buildout and premium finishes
- 6,000 total SF: 3,000 SF main level condo suite plus 3,000 SF lower level (full buildout)
- 245 ft frontage along Hayes Rd with monument signage and main road visibility
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
$62,905
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
9.05%
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%
$1,258,100
$1.3M
Cap Rate 7%
$898,643
$898.6K
Cap Rate 9%
$698,944
$698.9K
Market Conditions
NOI Build-Up for 6,000 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
$118.8K $19.80/SF
− Vacancy
−$14.0K −$2.33/SF
EGI
$104.8K $17.47/SF
− OpEx
−$41.9K −$6.99/SF
NOI
$62.9K $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%
$1,258,100
Cap Rate 7%
$898,643
Cap Rate 9%
$698,944
Alternative Uses
Best Use
Healthcare Medical
$898.6K
$786.3K – $1.05M
NOI $62,905 @ 7.0% cap · market cap 9.05%
Second Best
Office B
$295.1K
$258.2K – $344.3K
NOI $20,655 @ 7.0% cap · market cap 2.97%
Theoretical Best
Specialty Retail
$1.12M
$982.9K – $1.31M
NOI $78,631 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48038, MI
44,038
Population
21,395
Households
2.1
Avg Household Size
43
Median Age
29%
College-Educated
94%
High-School Grad
10.9 sq mi
ZIP Area
4,040
Density / Sq Mi
$78,684
Median Household Income
$44,811
Median Earnings
$1,255
Median Rent
$246,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Pet Doctor — 42306 Hayes Rd, Clinton Twp, MI 48038
Frequently Asked Questions
What type of property is this?
Medical Office Space - Turn-key medical/office condo with full buildout, premium finishes, and 43 surface parking spaces.
Where is this medical office space located?
The property is located at 42450 Hayes Rd Clinton Township, MI.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Turn‑key medical/office condo with full buildout and premium finishes; 6,000 total SF: 3,000 SF main level condo suite plus 3,000 SF lower level (full buildout); 245 ft frontage along Hayes Rd with monument signage and main road visibility
