Medical Office Space For
For Sale
Contact for pricing
1650 Fort St, Trenton, MI 48183
Built-out medical office space available for sale or lease.
Property Size11,024 SF
Price / SF$72.57
Days on Market2439
Property Features for 1650 Fort St
General Information
Standard status
Active
Size
11,024 SF
Class
A
Property subtype
Office
Listing Agency:
NAI Farbman Southfield
(734) 755-0488
Listed By:
John Harwood · License #MI 6502136733
Source:
Crexi
Added: Dec 16, 2019
Changed: Aug 19
Last Checked: Aug 20 at 4:30PM
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 NAI Farbman Southfield
Investment Insights
Based on property information with market context.
This commercial property in Trenton, Michigan, offers built-out medical space suitable for immediate occupancy. The property, totaling 11,024 square feet, is available for sale or lease and is suitable for medical office or general office use.
Key Highlights
- Built out medical space ready for immediate occupancy.
- Available for sale or lease.
- Located in Trenton, Michigan.
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
$37,950
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
4.74%
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%
$759,000
$759.0K
Cap Rate 7%
$542,143
$542.1K
Cap Rate 9%
$421,667
$421.7K
Market Conditions
NOI Build-Up for 11,024 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
$66.1K $6.00/SF
− Vacancy
−$15.5K −$1.41/SF
EGI
$50.6K $4.59/SF
− OpEx
−$12.7K −$1.15/SF
NOI
$38.0K $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 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%
$759,000
Cap Rate 7%
$542,143
Cap Rate 9%
$421,667
Alternative Uses
Best Use
Healthcare Medical
$1.66M
$1.45M – $1.93M
NOI $116,090 @ 7.0% cap · market cap 14.51%
Second Best
Office B
$542.1K
$474.4K – $632.5K
NOI $37,950 @ 7.0% cap · market cap 4.74%
Theoretical Best
Specialty Retail
$2.04M
$1.79M – $2.38M
NOI $142,871 @ 7.0% cap · market cap 17.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
598
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48183, MI
42,447
Population
18,095
Households
2.3
Avg Household Size
43
Median Age
27%
College-Educated
94%
High-School Grad
18.0 sq mi
ZIP Area
2,358
Density / Sq Mi
$82,020
Median Household Income
$51,534
Median Earnings
$1,009
Median Rent
$214,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Built-out medical office space available for sale or lease.
Where is this medical office space located?
The property is located at 1650 Fort St Trenton, MI.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Built out medical space ready for immediate occupancy.; Available for sale or lease.; Located in Trenton, Michigan.
