Single-Tenant Veterinary Medical
1972 E 11 Mile Rd, Warren, MI 48091
For Sale
New
$3,013,000
The facility is occupied by National Veterinary Associates under a double-net lease with renewal options.
Property Size15,000 SF
Price / SF$200.87
Days on Market2
Property Features for 1972 E 11 Mile Rd
General Information
Standard status
Size
Property subtype
Occupancy
Lease Type
Additional Details
Cap Rate
Highway Access
Tenant in Place
Property Use
Amenities
Tenant "NVA" has Over 1,500 Vet Hospitals in the United States
Parkview Animal Hospital has Six (6) Full-Time Veterinarians
Recent Capital Improvement Feature a New Roof in 2022 which has a 15 Year Transferable Warranty. Additionally, LL Resealed/Restriped the Parking Lot Along with Replacing Concrete Walkway in 2026
Tenant & Landlord Recently Invested Over $40,000 into Interior Improvements and a New Hospital Sign which Sits on E 11 Mile Rd, Featuring Over 17,000 VPD
Building Details
Building Size
Year Built
Buildings
Tenancy
Owner Occupied
Listing Agency:
Marcus & Millichap - Cleveland
Listed By:
Billy Skoch
(216) 264-2037
Source:
Marcusmillichap
Added: Nov 12
Last Checked: Nov 12 at 2:31PM
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 Marcus & Millichap - Cleveland
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Investment Insights
Based on property information with market context.
This 15,000-square-foot veterinary medical facility was built in 2001 and is leased to National Veterinary Associates. The double-net lease has 6.7 years remaining, two additional five-year renewal options, and 3% annual rent increases beginning in year three of the amendment. Six veterinarians provide wellness, diagnostic, surgical, dental, and grooming services at the property.
Building and site work includes a roof replacement in 2022, backed by a transferable 15-year warranty. The parking lot was resealed and restriped, and concrete walkways were replaced in 2026.
The property is at 1972 E 11 Mile Rd in Warren, with direct access from Interstate-696. The highway carries more than 183,000 vehicles per day. Henry Ford Emergency Medicine of Madison Heights is less than half a mile away.
Building and site work includes a roof replacement in 2022, backed by a transferable 15-year warranty. The parking lot was resealed and restriped, and concrete walkways were replaced in 2026.
The property is at 1972 E 11 Mile Rd in Warren, with direct access from Interstate-696. The highway carries more than 183,000 vehicles per day. Henry Ford Emergency Medicine of Madison Heights is less than half a mile away.
Key Highlights
- 15,000‑square‑foot veterinary facility built in 2001
- Leased to National Veterinary Associates under a double‑net structure
- 6.7 years remaining, with two additional five‑year renewal options
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$162,432
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,248,640
$3.2M
Cap Rate 7%
$2,320,457
$2.3M
Cap Rate 9%
$1,804,800
$1.8M
Market Conditions
NOI Build-Up for 15,000 SF
Gross rent
$288.0K $19.20/SF
− Vacancy
−$17.3K −$1.15/SF
EGI
$270.7K $18.05/SF
− OpEx
−$108.3K −$7.22/SF
NOI
$162.4K $10.83/SF
Area
Warren, MI
Vacancy
6.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,248,640
Cap Rate 7%
$2,320,457
Cap Rate 9%
$1,804,800
Alternative Uses
Best Use
Healthcare Medical
$2.32M
$2.03M – $2.71M
NOI $162,432 @ 7.0% cap · market cap 5.39%
Second Best
Office B
$2.31M
$2.02M – $2.69M
NOI $161,384 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$3.31M
$2.90M – $3.86M
NOI $231,634 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
531
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 48091, MI
32,267
Population
12,919
Households
2.5
Avg Household Size
37
Median Age
17%
College-Educated
82%
High-School Grad
7.9 sq mi
ZIP Area
4,084
Density / Sq Mi
$53,400
Median Household Income
$31,877
Median Earnings
$1,231
Median Rent
$138,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Medical Office Space in Macomb County, MI
Properties on Market for Medical Office Space in Macomb County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - The facility is occupied by National Veterinary Associates under a double-net lease with renewal options.
Where is this medical office space located?
The property is located at 1972 E 11 Mile Rd Warren, MI.
What is the asking price?
The asking price for this property is $3,013,000.
What are key features of this property?
This property features: 15,000‑square‑foot veterinary facility built in 2001; Leased to National Veterinary Associates under a double‑net structure; 6.7 years remaining, with two additional five‑year renewal options
