Building Details

Building Size 13,057 SF

Buildings 1

Listing Agency: Thomas A. Duke Company

Listed By: Eric Szerlag · License #6501343471 Show Phone

Source: Cpix.resimplifi

Added: Feb 24 Changed: Oct 12 Last Checked: Oct 16 at 5:51AM

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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 Thomas A. Duke Company

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Investment Insights

Based on property information with market context.

This freestanding office property contains 13,057 square feet and was previously used as a daycare facility. Existing infrastructure is in place, and the layout can be converted for medical office use.

The property is located at 1885 N Pontiac Trail in Walled Lake, Michigan, within the Commerce Township area. O zoning applies to the site, providing a defined office-oriented land-use designation for the property.

Key Highlights

• 13,057 SF freestanding office property
• Former daycare facility with infrastructure in place
• Conversion to medical office use is supported

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$44,949

Suggested Prices Based on Cap Rates

Cap Rate 5%

$898,980 $899.0K

Cap Rate 7%

$642,129 $642.1K

Cap Rate 9%

$499,433 $499.4K

What to ask about pricing

Market Conditions

NOI Build-Up for 13,057 SF

Gross rent

$78.3K $6.00/SF

− Vacancy

−$18.4K −$1.41/SF

EGI

$59.9K $4.59/SF

− OpEx

−$15.0K −$1.15/SF

NOI

$44.9K $3.44/SF

Area

Oakland 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 Rate 5%

$898,980

Cap Rate 7%

$642,129

Cap Rate 9%

$499,433

Alternative Uses

Best Use

Healthcare Medical

$2.52M

$2.21M – $2.94M (±1% cap)

NOI $176,693 @ 7.0% cap · market cap 1,472,441.67%

Second Best

Office B

$642.1K

$561.9K – $749.2K (±1% cap)

NOI $44,949 @ 7.0% cap · market cap 374,575.00%

Theoretical Best

Specialty Retail

$2.82M

$2.46M – $3.29M (±1% cap)

NOI $197,140 @ 7.0% cap · market cap 1,642,833.33%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Oakland Family Services: ... Charitable Organization Oakland family services Charitable Organization

Suggested Use

Top Pick Real Estate Agency Law Firm Hair Salon Spa & Massage Center Parking Lot & Garage Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

397

Businesses Nearby

Explore this area Business Placement

Demographics for 48390, MI

24,273

Population

10,995

Households

2.2

Avg Household Size

44

Median Age

43%

College-Educated

96%

High-School Grad

12.5 sq mi

ZIP Area

1,942

Density / Sq Mi

$89,411

Median Household Income

$53,442

Median Earnings

$1,575

Median Rent

$287,900

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Frequently Asked Questions

What type of property is this?

Office building - Existing infrastructure supports conversion to medical office use.

Where is this office building located?

The property is located at 1885 N Pontiac Trail Walled Lake, MI.

What are key features of this property?

This property features: 13,057 SF freestanding office property; Former daycare facility with infrastructure in place; Conversion to medical office use is supported