Multi-Building Medical Office
New
For Sale
$2,310,000
8560 N Silvery Ln, Dearborn Heights, MI 48127
Two parcels contain a multi-suite medical office and a separate shell building requiring improvements before occupancy.
Property Size40,239 SF
Lot Size5.29 Acres
Price / SF$57.41
Days on Market3
Property Features for 8560 N Silvery Ln
General Information
Standard status
Active
Size
40,239 SF
Net Rentable
26,512 SF
Total Parking Spaces
190
Lot size
5.29 Acres
Property subtype
Commercial
Zoning
O
Property Condition
Severity
Repairs Needed
Evidence
requiring improvements prior to occupancy
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$70,436
Building Details
Building Size
40,239 SF
Year Built
1983
Buildings
2
Tenancy
Multi
Listing Agency:
eXp Realty
Listed By:
Bernard Shamow · License #6501406529
(248) 413-9003
Source:
Elliman
Added: Oct 4
Last Checked: Oct 5 at 6:34PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This medical and professional office property spans two parcels totaling approximately 5.29 acres. The 40,239 SF offering includes a 31,139 SF main building with approximately 26,512 SF of net rentable area, arranged in multiple suites, plus a separate 9,100 SF shell building that requires improvements before occupancy. The property was built in 1983 and is zoned O – Office.
Approximately 190 surface parking spaces serve the site. Three occupancy agreements are in place, and the property is offered AS-IS with right to inspect.
Approximately 190 surface parking spaces serve the site. Three occupancy agreements are in place, and the property is offered AS-IS with right to inspect.
Key Highlights
- 40,239 SF across two parcels totaling approximately 5.29 acres
- Main building contains 31,139 SF, including approximately 26,512 SF of net rentable area
- Separate 9,100 SF shell building requires improvements before occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$138,523
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,770,460
$2.8M
Cap Rate 7%
$1,978,900
$2.0M
Cap Rate 9%
$1,539,144
$1.5M
Market Conditions
NOI Build-Up for 40,239 SF
Gross rent
$241.4K $6.00/SF
− Vacancy
−$56.7K −$1.41/SF
EGI
$184.7K $4.59/SF
− OpEx
−$46.2K −$1.15/SF
NOI
$138.5K $3.44/SF
Area
Wayne County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,770,460
Cap Rate 7%
$1,978,900
Cap Rate 9%
$1,539,144
Alternative Uses
Best Use
Healthcare Medical
$6.05M
$5.30M – $7.06M
NOI $423,742 @ 7.0% cap · market cap 18.34%
Second Best
Office B
$1.98M
$1.73M – $2.31M
NOI $138,523 @ 7.0% cap · market cap 6.00%
Theoretical Best
Specialty Retail
$7.45M
$6.52M – $8.69M
NOI $521,497 @ 7.0% cap · market cap 22.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48127, MI
41,222
Population
14,616
Households
2.8
Avg Household Size
35
Median Age
29%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
5,354
Density / Sq Mi
$63,084
Median Household Income
$35,340
Median Earnings
$1,231
Median Rent
$217,000
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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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two parcels contain a multi-suite medical office and a separate shell building requiring improvements before occupancy.
Where is this medical office space located?
The property is located at 8560 N Silvery Ln Dearborn Heights, MI.
What is the asking price?
The asking price for this property is $2,310,000.
What are key features of this property?
This property features: 40,239 SF across two parcels totaling approximately 5.29 acres; Main building contains 31,139 SF, including approximately 26,512 SF of net rentable area; Separate 9,100 SF shell building requires improvements before occupancy
