Office Building with
For Sale
$675,900
17097 17 Mile Road, Clinton Township, MI 48038
COM/IND/BUS OPP, Clinton Township, MI
Property Size8,380 SF
Lot Size0.82 Acres
Price / SF$80.66
Days on Market2093
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
Listed By:
George Djokic · License #6501184307
(586) 263-0460
Added: Jan 2, 2021
Changed: Sep 24
Last Checked: Sep 26 at 12:06PM
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.
The 8,380-square-foot office building, constructed in 1982, sits on a 0.82-acre parcel. Interior features include an elevator, conference room, reception area, and oak trim. Windows serve most office suites, and a basement is also present. A separate oversized two-car garage and on-site parking accompany the building.
The property is at 17097 17 Mile Road in Clinton Township, with exposure to a main road and close access to M-59. The grounds include a fenced yard. Building systems include forced-air heating and central air conditioning, with public water service.
The property is at 17097 17 Mile Road in Clinton Township, with exposure to a main road and close access to M-59. The grounds include a fenced yard. Building systems include forced-air heating and central air conditioning, with public water service.
Key Highlights
- 8,380‑square‑foot office building on 0.82 acres
- Elevator, conference room, reception area, and oak trim
- Separate oversized two‑car garage
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
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Open Analytics
Current Use
Lease Details
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - An 8,380-square-foot office property includes a separate garage, conference room, and reception area.
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: 8,380‑square‑foot office building on 0.82 acres; Elevator, conference room, reception area, and oak trim; Separate oversized two‑car garage
