Medical Office
For Sale
$400,000
13641 E 7 Mile Rd, Detroit, MI 48205
B4-zoned medical office space formerly occupied by an urgent-care operation.
Property Size2,420 SF
Price / SF$165.29
Days on Market922
Property Features for 13641 E 7 Mile Rd
General Information
Standard status
Active
Size
2,420 SF
Class
C
Property subtype
Office
Zoning
B4
Building Details
Building Size
2,420 SF
Year Built
1955
Buildings
1
Stories
1
Listing Agency:
Signature Associates - Southfield
(248) 359-0615
Listed By:
Joe Stack
(248) 359-0615
Source:
Cpix.resimplifi
Added: Feb 21, 2024
Changed: Aug 30
Last Checked: Aug 30 at 1:23PM
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 Signature Associates - Southfield
Investment Insights
Based on property information with market context.
This 2,420-square-foot medical office property at 13641 E 7 Mile Rd in Detroit, Michigan, was formerly used as an urgent-care facility. The building was constructed in 1955 and carries B4 zoning, providing a defined commercial framework for the property.
Its established medical-office identity and prior urgent-care use make the asset suitable for consideration by users seeking an existing healthcare-oriented setting. The property is located at 13641 E 7 Mile Rd, Detroit, MI 48205.
Its established medical-office identity and prior urgent-care use make the asset suitable for consideration by users seeking an existing healthcare-oriented setting. The property is located at 13641 E 7 Mile Rd, Detroit, MI 48205.
Key Highlights
- 2,420‑square‑foot medical office property
- Former urgent‑care use
- B4 zoning
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
$25,091
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
6.27%
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%
$501,820
$501.8K
Cap Rate 7%
$358,443
$358.4K
Cap Rate 9%
$278,789
$278.8K
Market Conditions
NOI Build-Up for 2,420 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
$46.5K $19.20/SF
− Vacancy
−$4.6K −$1.92/SF
EGI
$41.8K $17.28/SF
− OpEx
−$16.7K −$6.91/SF
NOI
$25.1K $10.37/SF
Area
Detroit, MI
Vacancy
10.00%
Lease Rate
$19.20 /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%
$501,820
Cap Rate 7%
$358,443
Cap Rate 9%
$278,789
Alternative Uses
Best Use
Healthcare Medical
$358.4K
$313.6K – $418.2K
NOI $25,091 @ 7.0% cap · market cap 6.27%
Second Best
Office B
$350.2K
$306.5K – $408.6K
NOI $24,517 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$533.9K
$467.1K – $622.8K
NOI $37,370 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
464
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48205, MI
34,056
Population
17,102
Households
2
Avg Household Size
32
Median Age
9%
College-Educated
85%
High-School Grad
6.4 sq mi
ZIP Area
5,321
Density / Sq Mi
$40,612
Median Household Income
$30,833
Median Earnings
$1,149
Median Rent
$55,700
Median Home Value
Market
Vacancy Rate% for Office in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - B4-zoned medical office space formerly occupied by an urgent-care operation.
Where is this medical office space located?
The property is located at 13641 E 7 Mile Rd Detroit, MI.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2,420‑square‑foot medical office property; Former urgent‑care use; B4 zoning
