200 TEMPLE ST, Mason, MI 48854

Building Details

Buildings 1 More

Building Size 1,694 SF More

Listing Agency: EXIT Realty Home Partners

Listed By: Jonathan Lum · License MI #6505398286 Show Phone

Source: Crexi

Added: Sep 15 Changed: Nov 9 Last Checked: Nov 10 at 7:04AM

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Investment Insights

Based on property information with market context.

This medical office property at 200 Temple Street includes 1,694 SF of existing space arranged with six exam rooms, a six-station reception area, zoned HVAC, three-phase power, and generator hookups. A finished lower level adds offices and storage, supporting continued healthcare use or other professional office functions.

Previously approved plans provide for a 7,738 SF addition, which would increase the potential overall footprint to 9,432 SF. The plans also include a proposed 20-car parking expansion. The property is next to UM Health-Sparrow Mason and is located minutes from Downtown Mason and US-127, placing the building within an established healthcare setting.

Key Highlights

• 1,694 SF former pediatrics building at 200 Temple Street
• Six exam rooms and a six‑station reception area
• Zoned HVAC, three‑phase power, and generator hookups

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,289

Cap Rate

4.76%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$285,780 $285.8K

Cap Rate 7%

$204,129 $204.1K

Cap Rate 9%

$158,767 $158.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,694 SF

Gross rent

$30.5K $18.00/SF

− Vacancy

−$6.7K −$3.94/SF

EGI

$23.8K $14.06/SF

− OpEx

−$9.5K −$5.62/SF

NOI

$14.3K $8.43/SF

Area

Ingham County, MI

Vacancy

21.90%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$285,780

Cap Rate 7%

$204,129

Cap Rate 9%

$158,767

Alternative Uses

Best Use

Healthcare Medical

$204.1K

$178.6K – $238.2K (±1% cap)

NOI $14,289 @ 7.0% cap · market cap 4.76%

Second Best

Office B

$204.1K

$178.6K – $238.2K (±1% cap)

NOI $14,289 @ 7.0% cap · market cap 4.76%

Theoretical Best

Office A

$272.2K

$238.1K – $317.5K (±1% cap)

NOI $19,051 @ 7.0% cap · market cap 6.35%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Mason Pediatrics Pediatrician Anne Suess Pediatrician

Suggested Use

Top Pick HVAC Service Pharmacy Real Estate Agency Kitchen & Bath Showroom Big Box & Wholesale Store Parking Lot & Garage

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

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

169

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 48854, MI

19,804

Population

7,853

Households

2.5

Avg Household Size

41

Median Age

39%

College-Educated

95%

High-School Grad

113.3 sq mi

ZIP Area

175

Density / Sq Mi

$91,956

Median Household Income

$46,992

Median Earnings

$1,136

Median Rent

$240,600

Median Home Value

Market

Average Price Trend$/SF for Medical Office Space in Ingham County, MI

$138 Jul

$114 Aug

$114 Sep

$125 Oct

Properties on Market for Medical Office Space in Ingham County

Jul

Aug

Sep

Oct

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

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Configured healthcare space with reception, private exam rooms, supplemental offices, and storage.

Where is this medical office space located?

The property is located at 200 TEMPLE ST Mason, MI.

What is the asking price?

The asking price for this property is $299,900.

What are key features of this property?

This property features: 1,694 SF former pediatrics building at 200 Temple Street; Six exam rooms and a six‑station reception area; Zoned HVAC, three‑phase power, and generator hookups