Office Building with
For Sale
$675,900
17097 17 Mile Road, Clinton Twp, MI 48038
Multi-suite property offers conference and reception areas, parking, and main-road exposure.
Property Size8,380 SF
Days on Market49
Property Features for 17097 17 Mile Road
General Information
Standard status
Active
Size
8,380 SF
Total Parking Spaces
2
Elevators
Yes
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
conference room
reception area
Oak trim
Building Details
Building Size
8,380 SF
Year Built
1982
Buildings
2
Listing Agency:
The Real Estate Organization
(586) 263-0460
Listed By:
George Djokic · License #6501184307
Source:
Thebrokeragehouse
Added: Jul 14
Changed: Aug 29
Last Checked: Aug 30 at 5:33PM
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 The Real Estate Organization
Investment Insights
Based on property information with market context.
This office building at 17097 17 Mile Road includes 8,380 square feet of space within a 1982-built property. Interior features include an elevator, reception area, conference room, and oak trim. Windows serve most office suites, providing natural light across much of the workspace. A separate oversized two-car garage adds enclosed accessory space, while on-site parking supports daily operations.
The property is positioned along 17 Mile Road in Clinton Charter Township, with exposure to a main road and proximity to M-59. Its combination of multiple office suites, shared areas, garage space, and parking creates a practical commercial configuration for office users.
The property is positioned along 17 Mile Road in Clinton Charter Township, with exposure to a main road and proximity to M-59. Its combination of multiple office suites, shared areas, garage space, and parking creates a practical commercial configuration for office users.
Key Highlights
- 8,380‑square‑foot office building constructed in 1982
- Elevator, conference room, and reception area included
- 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
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
383
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 - Multi-suite property offers conference and reception areas, parking, and main-road exposure.
Where is this office building located?
The property is located at 17097 17 Mile Road Clinton Twp, 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 constructed in 1982; Elevator, conference room, and reception area included; Separate oversized two‑car garage
