Medical Office with
New
For Sale
$2,265,176
1310 N Stephenson Hwy, Royal Oak, MI 48067
The building supports headquarters, call center and laboratory functions under triple-net leases with renewal options.
Property Size9,252 SF
Price / SF$244.83
Days on Market2
Property Features for 1310 N Stephenson Hwy
General Information
Standard status
Active
Size
9,252 SF
Property subtype
Office Medical
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Cap Rate
8.5%
Currently Operating
Yes
Property Use
Medical Office
Amenities
Seven-Year NNN leases | 2 Percent Annual Escalations
Strategic Medical Office Location Located Near Corewell Health William Beaumont University Hospital in Royal Oak, Reinforcing the Property's Position within a Major Regional Healthcare Corridor
Comprehensive Urology Headquarters Royal Oak Headquarters for Comprehensive Urology, with Call Center and Laboratory Operations Supporting its 17-Location Regional Network
Established Healthcare Network Affiliated with Michigan Healthcare Professionals, with Over 100 Locations and Over 450 Medical Professionals Across 48 Specialties
Excellent Regional Accessibility Convenient Access to I-75, I-696 and Woodward Avenue, Connecting the Property throughout Metro Detroit
Strong Population & Employment Base More than 332,000 Residents, 408,000 Daytime Population and 178,000 Employees within Five Miles
Dense Retail & Commercial Corridor Adjacent to Kroger and Surrounded by Major Retailers Including Costco, Sam's Club, Target and Lowe's, Providing Convenient Amenities for Patients and Employees
Building Details
Building Size
9,252 SF
Year Built
1979
Tenancy
Single
Listing Agency:
Detroit Office
Listed By:
Seth Haron · License #License(s): MI: 6501373006
(248) 415-2605
Source:
Marcusmillichap
Added: Nov 4
Last Checked: Nov 4 at 2:46PM
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 Detroit Office
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Investment Insights
Based on property information with market context.
This 9,252-square-foot medical office in Royal Oak was built in 1979 and serves as the headquarters of Comprehensive Urology. Its functions include the organization’s call center and an affiliated laboratory. Both uses are covered by seven-year triple-net leases that commence at closing, with 2 percent annual rent increases and two five-year renewal options apiece.
The property sits on North Stephenson Highway near I-75, with I-696 and Woodward Avenue providing additional regional connections. Corewell Health William Beaumont University Hospital is a few miles to the northwest; the 1,131-bed acute care teaching hospital and nearby practices form part of the surrounding healthcare network. Retail and daily-needs businesses nearby include Costco, Sam’s Club, Target, Kroger and Lowe’s.
Within five miles, the market includes approximately 332,000 residents, a daytime population of 408,000 and 178,000 employees. Comprehensive Urology operates 17 locations in metro Detroit and is affiliated with Michigan Healthcare Professionals, an organization with more than 100 locations and 450 medical professionals across 48 specialties.
The property sits on North Stephenson Highway near I-75, with I-696 and Woodward Avenue providing additional regional connections. Corewell Health William Beaumont University Hospital is a few miles to the northwest; the 1,131-bed acute care teaching hospital and nearby practices form part of the surrounding healthcare network. Retail and daily-needs businesses nearby include Costco, Sam’s Club, Target, Kroger and Lowe’s.
Within five miles, the market includes approximately 332,000 residents, a daytime population of 408,000 and 178,000 employees. Comprehensive Urology operates 17 locations in metro Detroit and is affiliated with Michigan Healthcare Professionals, an organization with more than 100 locations and 450 medical professionals across 48 specialties.
Key Highlights
- 9,252‑square‑foot medical office building, constructed in 1979
- Headquarters property with call center and affiliated laboratory functions
- Seven‑year triple‑net leases for both uses, with 2 percent annual rent increases and two five‑year renewal options each
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$125,202
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,504,040
$2.5M
Cap Rate 7%
$1,788,600
$1.8M
Cap Rate 9%
$1,391,133
$1.4M
Market Conditions
NOI Build-Up for 9,252 SF
Gross rent
$233.2K $25.20/SF
− Vacancy
−$24.5K −$2.65/SF
EGI
$208.7K $22.55/SF
− OpEx
−$83.5K −$9.02/SF
NOI
$125.2K $13.53/SF
Area
Oakland County, MI
Vacancy
10.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,504,040
Cap Rate 7%
$1,788,600
Cap Rate 9%
$1,391,133
Alternative Uses
Best Use
Healthcare Medical
$1.79M
$1.57M – $2.09M
NOI $125,202 @ 7.0% cap · market cap 5.53%
Second Best
Office B
$455.0K
$398.1K – $530.8K
NOI $31,850 @ 7.0% cap · market cap 1.41%
Theoretical Best
Specialty Retail
$2.00M
$1.75M – $2.33M
NOI $139,690 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 48067, MI
24,589
Population
13,714
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
96%
High-School Grad
4.6 sq mi
ZIP Area
5,345
Density / Sq Mi
$107,355
Median Household Income
$76,700
Median Earnings
$1,435
Median Rent
$309,200
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - The building supports headquarters, call center and laboratory functions under triple-net leases with renewal options.
Where is this medical office space located?
The property is located at 1310 N Stephenson Hwy Royal Oak, MI.
What is the asking price?
The asking price for this property is $2,265,176.
What are key features of this property?
This property features: 9,252‑square‑foot medical office building, constructed in 1979; Headquarters property with call center and affiliated laboratory functions; Seven‑year triple‑net leases for both uses, with 2 percent annual rent increases and two five‑year renewal options each
