Medical Office with Drive-Through
For Sale
$2,675,000
15555 Silver Pkwy, Fenton, MI 48430
Clinical layout includes reception, treatment, laboratory, executive office, garage, and supplemental storage areas.
Property Size7,356 SF
Lot Size1.67 Acres
Price / SF$363.65
Days on Market176
Property Features for 15555 Silver Pkwy
General Information
Standard status
Active
Size
7,356 SF
Lot size
1.67 Acres
Property subtype
Office
Zoning
OSD
Additional Details
Highway Access
Yes
Amenities
drive-through canopies
private executive office with adjacent garage
laboratory
partial basement
high ceilings
Building Details
Building Size
7,356 SF
Year Built
2002
Buildings
1
Stories
1
Listing Agency:
RE/MAX Platinum
(810) 397-3192
Listed By:
Scott Myers · License #620395235
(810) 397-3192
Source:
Cpix.resimplifi
Added: Mar 9
Changed: Aug 30
Last Checked: Aug 30 at 11:19PM
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 RE/MAX Platinum
Investment Insights
Based on property information with market context.
The 7,356-square-foot medical office property at 15555 Silver Pkwy includes a reception area, treatment and clinical rooms, a rear laboratory, partial basement space, and an executive office with an adjoining garage. Two patient drive-through canopies support convenient arrival and departure, while on-site parking serves staff and patients. Built in 2002, the facility is configured for healthcare operations and is identified with OSD zoning.
The property occupies approximately 1.67 (+/-) acres in Fenton, Michigan, with exposure along US-23 and placement within a heavily traveled commercial corridor. Its location is in Fenton’s business district, providing a visible setting for a medical or professional office operation.
The property occupies approximately 1.67 (+/-) acres in Fenton, Michigan, with exposure along US-23 and placement within a heavily traveled commercial corridor. Its location is in Fenton’s business district, providing a visible setting for a medical or professional office operation.
Key Highlights
- 7,356 (+/-) sq. ft. medical office facility
- Approximately 1.67 (+/-) acres; new legal description to be determined
- Two patient drive‑through canopies and on‑site parking
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
$83,417
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
3.12%
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%
$1,668,340
$1.7M
Cap Rate 7%
$1,191,671
$1.2M
Cap Rate 9%
$926,856
$926.9K
Market Conditions
NOI Build-Up for 7,356 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
$158.9K $21.60/SF
− Vacancy
−$19.9K −$2.70/SF
EGI
$139.0K $18.90/SF
− OpEx
−$55.6K −$7.56/SF
NOI
$83.4K $11.34/SF
Area
Genesee County, MI
Vacancy
12.50%
Lease Rate
$21.60 /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%
$1,668,340
Cap Rate 7%
$1,191,671
Cap Rate 9%
$926,856
Alternative Uses
Best Use
Healthcare Medical
$1.19M
$1.04M – $1.39M
NOI $83,417 @ 7.0% cap · market cap 3.12%
Second Best
Office B
$1.16M
$1.01M – $1.35M
NOI $81,036 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$1.55M
$1.35M – $1.81M
NOI $108,353 @ 7.0% cap · market cap 4.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
622
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48430, MI
39,594
Population
16,163
Households
2.4
Avg Household Size
42
Median Age
38%
College-Educated
96%
High-School Grad
83.2 sq mi
ZIP Area
476
Density / Sq Mi
$99,755
Median Household Income
$53,447
Median Earnings
$1,382
Median Rent
$308,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Clinical layout includes reception, treatment, laboratory, executive office, garage, and supplemental storage areas.
Where is this medical office space located?
The property is located at 15555 Silver Pkwy Fenton, MI.
What is the asking price?
The asking price for this property is $2,675,000.
What are key features of this property?
This property features: 7,356 (+/-) sq. ft. medical office facility; Approximately 1.67 (+/-) acres; new legal description to be determined; Two patient drive‑through canopies and on‑site parking
