Vacant Office Building with
1662 S Otsego Avenue Gaylord, MI 49735
New
For Sale
$399,000
Vacant office building with five exam rooms, reception area, and full basement, plus paved driveway and parking.
Property Size4,000 SF
Lot Size1.64 Acres
Price / SF$99.75
Days on Market7
Property Features for 1662 S Otsego Avenue
General Information
- Standard status
- Active
- Size
- 4,000 SF
- Lot size
- 1.64 Acres
- Property subtype
- Office
Listing Agency:
Berkshire Hathaway HomeServices
(616) 581-1005
Listed By:
Lee Walski · License #6501280759
(616) 581-1005
Source:
Xome
Added: Jul 19
Changed: Jul 25
Last Checked: Jul 25 at 11:04AM
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 Berkshire Hathaway HomeServices
Investment Insights
Based on property information with market context.
This vacant office building was previously used as a podiatrist office and includes five exam rooms, a reception area, and a bathroom. The property also features a full basement and a sign/sign stanchion with electrical in place. A paved cement driveway and parking area are provided on the site.
The building sits on a 1.64-acre parcel. The public remarks indicate an average daily traffic count of 14,000+ vehicles per day.
With the existing interior layout and site improvements, the property offers a straightforward office configuration and additional site area that may support land lease opportunities for passive income, subject to applicable terms and approvals.
The building sits on a 1.64-acre parcel. The public remarks indicate an average daily traffic count of 14,000+ vehicles per day.
With the existing interior layout and site improvements, the property offers a straightforward office configuration and additional site area that may support land lease opportunities for passive income, subject to applicable terms and approvals.
Key Highlights
- Vacant office building previously used as a podiatrist office, with 5 exam rooms and a reception area
- Includes 1 bathroom and 3 guest facilities
- Full basement
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.6k | $14.64 |
| − Vacancy | −$3.3k | −$0.82 |
| EGI | $55.3k | $13.82 |
| − OpEx | −$22.1k | −$5.53 |
| NOI | $33.2k | $8.29 |
4,000 SF · lease $14.64/SF/yr · vacancy 5.60% · expense 40.00%
Alternative Uses
Best Use
Office B
$635.3K
$555.9K – $741.2K
NOI $44,474 @ 7.0% cap · market cap 11.15%
Second Best
Healthcare Medical
$473.8K
$414.6K – $552.8K
NOI $33,168 @ 7.0% cap · market cap 8.31%
Theoretical Best
Warehouse
$5.48M
$4.79M – $6.39M
NOI $383,520 @ 7.0% cap · market cap 96.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Gaylord Foot Clinic
Medical Clinic
Thomas Dekorte
Physician
Livingston Don Insurance
Insurance Agency
FAQs
What type of property is this?
Medical Office Space - Vacant office building with five exam rooms, reception area, and full basement, plus paved driveway and parking.
Where is this medical office space located?
The property is located at 1662 S Otsego Avenue Gaylord, MI.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Vacant office building previously used as a podiatrist office, with 5 exam rooms and a reception area; Includes 1 bathroom and 3 guest facilities; Full basement
