Freestanding Medical Office
For Sale
$229,900
Pending
1705 Gratiot Boulevard, Marysville, MI 48040
COM/IND/BUS OPP, Marysville, MI
Property Size1,536 SF
Lot Size0.20 Acres
Days on Market139
Property Features for 1705 Gratiot Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Parking Lot
Subdivision
Sub P Village Of Marysville
Lot features
Main Street, Utilities Underground
Standard status
Pending
APN
03-773-0065-000
Size
1,536 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5851
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1968
Roof type
Flat
Listing Agency:
RE/MAX Advisors · RE/MAX International
(586) 725-1900
Listed By:
Maria McGuire · License #6504242665
(586) 996-4059
Added: Apr 20
Changed: Aug 19
Last Checked: Sep 5 at 11:06AM
MLS# 50204779
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding medical office building contains 1,536 square feet on a 0.2-acre lot. The current layout includes a reception area, waiting room, and three exam or adjustment rooms. Forced-air heating, central air, a flat roof, public water, and an on-site parking lot are in place. Built in 1968, the property is currently configured for professional medical office use.
The building fronts Gratiot Boulevard in Marysville and extends to A&W's block wall. Marysville has approved a second story, while the existing structure can accommodate an addition up to 30 feet at the rear and 20 feet at the front, subject to applicable requirements. The large lot and abundant parking support the property's existing office configuration.
The building fronts Gratiot Boulevard in Marysville and extends to A&W's block wall. Marysville has approved a second story, while the existing structure can accommodate an addition up to 30 feet at the rear and 20 feet at the front, subject to applicable requirements. The large lot and abundant parking support the property's existing office configuration.
Key Highlights
- 1,536‑square‑foot freestanding medical office building on a 0.2‑acre lot
- Reception area, waiting room, and three exam/adjustment rooms
- Large lot with abundant parking and on‑site parking lot
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
$9,500
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
4.13%
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%
$190,000
$190.0K
Cap Rate 7%
$135,714
$135.7K
Cap Rate 9%
$105,556
$105.6K
Market Conditions
NOI Build-Up for 1,536 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
$18.4K $12.00/SF
− Vacancy
−$2.6K −$1.69/SF
EGI
$15.8K $10.31/SF
− OpEx
−$6.3K −$4.12/SF
NOI
$9.5K $6.18/SF
Area
St. Clair County, MI
Vacancy
14.10%
Lease Rate
$12.00 /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%
$190,000
Cap Rate 7%
$135,714
Cap Rate 9%
$105,556
Alternative Uses
Best Use
Healthcare Medical
$135.7K
$118.8K – $158.3K
NOI $9,500 @ 7.0% cap · market cap 4.13%
Second Best
Office B
$75.5K
$66.1K – $88.1K
NOI $5,288 @ 7.0% cap · market cap 2.30%
Theoretical Best
Multifamily LT 5
$1.15M
$1.01M – $1.35M
NOI $80,830 @ 7.0% cap · market cap 35.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
537
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48040, MI
9,994
Population
4,588
Households
2.2
Avg Household Size
44
Median Age
24%
College-Educated
93%
High-School Grad
6.9 sq mi
ZIP Area
1,448
Density / Sq Mi
$69,661
Median Household Income
$45,365
Median Earnings
$955
Median Rent
$185,500
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.
Similar Off Market Nearby
- Cassandra Leicht, DVM — 1273 Gratiot Blvd Ste 1, Marysville, MI 48040
- Marysville Veterinary Clinic — 1273 Gratiot Blvd Ste 1, Marysville, MI 48040
Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing reception, waiting, and exam areas support a range of professional office configurations.
Where is this medical office space located?
The property is located at 1705 Gratiot Boulevard Marysville, MI.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: 1,536‑square‑foot freestanding medical office building on a 0.2‑acre lot; Reception area, waiting room, and three exam/adjustment rooms; Large lot with abundant parking and on‑site parking lot
