Income Office Building with
For Sale
$675,900
17097 17 Mile Road, Clinton Township, MI 48038
COMMERCIAL - Clinton Township, MI
Property Size8,380 SF
Lot Size0.82 Acres
Price / SF$80.66
Days on Market2056
Property Features for 17097 17 Mile Road
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Exterior features
Fenced Yard
Fencing
Fenced
Subdivision
metes and bounds
Standard status
Active
APN
1117351022
Size
8,380 SF
Lot size
0.82 Acres
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
conference room
reception area
Building Details
Year built
1982
Listing Agency:
The Real Estate Organization
(586) 263-0460
Listed By:
George Djokic · License #6501184307
(586) 263-0460
Added: Jan 2, 2021
Changed: Aug 4
Last Checked: Aug 20 at 8:06PM
MLS# 50031489
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 income-producing office building offers multiple interior improvements designed for everyday operations, including an elevator, a reception area, and a conference room. Office suites feature windows in most areas, and oak trim is included throughout. A separate oversized two-car garage adds practical, dedicated storage or service capability for staff and day-to-day needs.
The property sits on a 0.82-acre lot with ample parking and convenient main road exposure for visibility and access. It is located near M-59, supporting straightforward commuting and tenant access.
Well-suited for owner-occupants and investors seeking a ready-to-run office environment, the building’s core amenities—elevator service, reception, conference space, and suite-level windowing—can support professional office uses. The combination of office improvements, parking, and the additional separate garage provides flexibility for a variety of workplace configurations.
The property sits on a 0.82-acre lot with ample parking and convenient main road exposure for visibility and access. It is located near M-59, supporting straightforward commuting and tenant access.
Well-suited for owner-occupants and investors seeking a ready-to-run office environment, the building’s core amenities—elevator service, reception, conference space, and suite-level windowing—can support professional office uses. The combination of office improvements, parking, and the additional separate garage provides flexibility for a variety of workplace configurations.
Key Highlights
- Income‑producing office building available for sale or lease
- Built in 1982 and includes a separate oversized 2‑car garage
- Office building features an elevator, conference room, and reception area
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
$28,848
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
4.27%
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%
$576,960
$577.0K
Cap Rate 7%
$412,114
$412.1K
Cap Rate 9%
$320,533
$320.5K
Market Conditions
NOI Build-Up for 8,380 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
$50.3K $6.00/SF
− Vacancy
−$11.8K −$1.41/SF
EGI
$38.5K $4.59/SF
− OpEx
−$9.6K −$1.15/SF
NOI
$28.8K $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%
$576,960
Cap Rate 7%
$412,114
Cap Rate 9%
$320,533
Alternative Uses
Best Use
Office B
$412.1K
$360.6K – $480.8K
NOI $28,848 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.57M
$1.37M – $1.83M
NOI $109,821 @ 7.0% cap · market cap 16.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
380
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Office building - Elevator-served office building with multiple improvements, reception space, and an oversized two-car garage.
Where is this office building located?
The property is located at 17097 17 Mile Road Clinton Township, MI.
What is the asking price?
The asking price for this property is $675,900.
What are key features of this property?
This property features: Income‑producing office building available for sale or lease; Built in 1982 and includes a separate oversized 2‑car garage; Office building features an elevator, conference room, and reception area
