Medical Office
For Sale
Contact for pricing
16560 19 Mile Rd, Clinton Township, MI 48038
Medical improvements, lower-level records storage, and on-site parking support staff and patient operations.
Property Size4,400 SF
Price / SF$79.43
Days on Market184
Property Features for 16560 19 Mile Rd
General Information
Standard status
Active
Size
4,400 SF
Property subtype
Office
Listing Agency:
Colliers - Royal Oak/Detroit, Michigan
Listed By:
Steven Badgero · License #6501355671
Source:
Crexi
Added: Mar 3
Changed: Aug 30
Last Checked: Sep 2 at 6:46PM
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 Colliers - Royal Oak/Detroit, Michigan
Investment Insights
Based on property information with market context.
This 4,400-square-foot medical office condominium at 16560 19 Mile Rd offers an established medical build-out within a flexible office setting. The property includes lower-level space designated for file and records storage, supporting day-to-day administrative needs for a medical practice or office user. On-site parking accommodates staff and patients.
The property is located directly across from Henry Ford Hospital in Clinton Township, Michigan. OS-1 zoning is in place, and the condominium format provides a defined medical office asset for an owner-user or practice seeking dedicated space. The existing layout and support areas reduce the need to start with a vacant shell.
The property is located directly across from Henry Ford Hospital in Clinton Township, Michigan. OS-1 zoning is in place, and the condominium format provides a defined medical office asset for an owner-user or practice seeking dedicated space. The existing layout and support areas reduce the need to start with a vacant shell.
Key Highlights
- 4,400‑square‑foot medical office condominium
- Existing medical build‑out within the office condominium
- Lower‑level area designated for file and records storage
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
$15,147
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
4.33%
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%
$302,940
$302.9K
Cap Rate 7%
$216,386
$216.4K
Cap Rate 9%
$168,300
$168.3K
Market Conditions
NOI Build-Up for 4,400 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
$26.4K $6.00/SF
− Vacancy
−$6.2K −$1.41/SF
EGI
$20.2K $4.59/SF
− OpEx
−$5.0K −$1.15/SF
NOI
$15.1K $3.44/SF
Area
Macomb 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%
$302,940
Cap Rate 7%
$216,386
Cap Rate 9%
$168,300
Alternative Uses
Best Use
Healthcare Medical
$659.0K
$576.6K – $768.8K
NOI $46,130 @ 7.0% cap · market cap 13.20%
Second Best
Office B
$216.4K
$189.3K – $252.5K
NOI $15,147 @ 7.0% cap · market cap 4.33%
Theoretical Best
Specialty Retail
$823.8K
$720.8K – $961.1K
NOI $57,663 @ 7.0% cap · market cap 16.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,687
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48038, MI
44,038
Population
21,395
Households
2.1
Avg Household Size
43
Median Age
29%
College-Educated
94%
High-School Grad
10.9 sq mi
ZIP Area
4,040
Density / Sq Mi
$78,684
Median Household Income
$44,811
Median Earnings
$1,255
Median Rent
$246,400
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.
Similar Off Market Nearby
- The Kitty Clinic — 42940 Garfield Rd, Clinton Twp, MI 48038
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical improvements, lower-level records storage, and on-site parking support staff and patient operations.
Where is this medical office space located?
The property is located at 16560 19 Mile Rd Clinton Township, MI.
What is the asking price?
The asking price for this property is $349,500.
What are key features of this property?
This property features: 4,400‑square‑foot medical office condominium; Existing medical build‑out within the office condominium; Lower‑level area designated for file and records storage
