Medical Office Building with Clinical
New
For Sale
$1,795,000
1385 E 12 Mile Road, Madison Heights, MI 48071
The property includes a renovated first-floor medical suite and lower-level space for medical testing or laboratory use.
Property Size18,000 SF
Price / SF$99.72
Days on Market4
Property Features for 1385 E 12 Mile Road
General Information
Standard status
Active
Size
18,000 SF
Property subtype
Medical Office
Zoning
O-1
Additional Details
Highway Access
Yes
Amenities
building signage rights
monument signage rights
MRI mobile pad
Building Details
Year Renovated
2024
Buildings
1
Stories
3
Building Size
18,000 SF
Listing Agency:
Friedman Integrated Real Estate
Listed By:
Todd Hawley · License #6501265610
(248) 210-5219
Source:
Friedmanrealestate
Added: Oct 20
Changed: Oct 21
Last Checked: Oct 23 at 4:11AM
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 Friedman Integrated Real Estate
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Investment Insights
Based on property information with market context.
This three-story medical office building contains approximately 18,000 SF. A recently renovated 5,500 SF first-floor suite has a medical buildout and a glass entry from the building lobby. The lower level offers 1,500 SF of general medical testing or laboratory space. The second floor is leased to Detroit Medical Center.
Building and monument signage rights are available, along with an MRI mobile pad. The property is zoned O-1, with access to I-75 and I-696 approximately 1 mile to the east.
Building and monument signage rights are available, along with an MRI mobile pad. The property is zoned O-1, with access to I-75 and I-696 approximately 1 mile to the east.
Key Highlights
- Three‑story medical office building totaling ±18,000 SF
- Recently renovated 5,500 SF first‑floor medical suite with a glass lobby entry
- Lower level includes 1,500 SF for general medical testing or laboratory use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,965
Cap Rate
3.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,239,300
$1.2M
Cap Rate 7%
$885,214
$885.2K
Cap Rate 9%
$688,500
$688.5K
Market Conditions
NOI Build-Up for 18,000 SF
Gross rent
$108.0K $6.00/SF
− Vacancy
−$25.4K −$1.41/SF
EGI
$82.6K $4.59/SF
− OpEx
−$20.7K −$1.15/SF
NOI
$62.0K $3.44/SF
Area
Oakland 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%
$1,239,300
Cap Rate 7%
$885,214
Cap Rate 9%
$688,500
Alternative Uses
Best Use
Healthcare Medical
$3.48M
$3.04M – $4.06M
NOI $243,583 @ 7.0% cap · market cap 13.57%
Second Best
Office B
$885.2K
$774.6K – $1.03M
NOI $61,965 @ 7.0% cap · market cap 3.45%
Theoretical Best
Specialty Retail
$3.88M
$3.40M – $4.53M
NOI $271,771 @ 7.0% cap · market cap 15.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48071, MI
28,468
Population
14,690
Households
1.9
Avg Household Size
39
Median Age
32%
College-Educated
89%
High-School Grad
7.1 sq mi
ZIP Area
4,010
Density / Sq Mi
$66,726
Median Household Income
$49,151
Median Earnings
$1,138
Median Rent
$190,300
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
Similar Off Market Nearby
- Veterinary Emergency Service — 28223 John R Rd, Madison Heights, MI 48071
- Madison Veterinary Hospital — 240 E 12 Mile Rd, Madison Heights, MI 48071
Frequently Asked Questions
What type of property is this?
Medical Office Space - The property includes a renovated first-floor medical suite and lower-level space for medical testing or laboratory use.
Where is this medical office space located?
The property is located at 1385 E 12 Mile Road Madison Heights, MI.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Three‑story medical office building totaling ±18,000 SF; Recently renovated 5,500 SF first‑floor medical suite with a glass lobby entry; Lower level includes 1,500 SF for general medical testing or laboratory use
