Medical Office with Exam
For Sale
Contact for pricing
200 TEMPLE ST, Mason, MI 48854
Configured healthcare space with reception, private exam rooms, supplemental offices, and storage.
Property Size1,694 SF
Price / SF$177.04
Days on Market10
Property Features for 200 TEMPLE ST
General Information
Standard status
Active
Size
1,694 SF
Property subtype
Office
Additional Details
Utilities to Site
Yes
Building Details
Buildings
1
Building Size
1,694 SF
Listing Agency:
EXIT Realty Home Partners
Listed By:
Jonathan Lum · License #6505398286
(517) 798-6264
Source:
Crexi
Added: Sep 15
Changed: Sep 22
Last Checked: Sep 24 at 8:52AM
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 EXIT Realty Home Partners
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.
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 = 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
$14,289
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
4.76%
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%
$285,780
$285.8K
Cap Rate 7%
$204,129
$204.1K
Cap Rate 9%
$158,767
$158.8K
Market Conditions
NOI Build-Up for 1,694 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
$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 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%
$285,780
Cap Rate 7%
$204,129
Cap Rate 9%
$158,767
Alternative Uses
Best Use
Healthcare Medical
$204.1K
$178.6K – $238.2K
NOI $14,289 @ 7.0% cap · market cap 4.76%
Second Best
Office B
$204.1K
$178.6K – $238.2K
NOI $14,289 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$272.2K
$238.1K – $317.5K
NOI $19,051 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Theravet — 702 Temple St, Mason, MI 48854
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
