Single-Tenant Medical Office
For Sale
$2,000,000
20180 W 12 Mile Rd, Southfield, MI 48076
Well-maintained medical office building with a single-tenant NNN lease and ample parking.
Property Size9,052 SF
Price / SF$220.95
Days on Market135
Property Features for 20180 W 12 Mile Rd
General Information
Standard status
Active
Size
9,052 SF
Property subtype
Office
Zoning
OS
Building Details
Building Size
9,052 SF
Listing Agency:
Newmark Knight Frank Detroit
Listed By:
JP Champine
(313) 622-3634
Source:
Cpix.resimplifi
Added: Jun 8
Changed: Oct 8
Last Checked: Oct 19 at 3:24AM
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 Newmark Knight Frank Detroit
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Investment Insights
Based on property information with market context.
This well-maintained medical office building is offered with a single-tenant NNN lease structure. The property is designed for straightforward management and presents as an attractive, easily handled medical office asset.
Located at 20180 W 12 Mile Rd in Southfield, the building is centrally located with convenient access to I-696, including access off the Evergreen exit. Ample parking supports patient and staff arrivals, and the property benefits from its proximity to Corewell Health Royal Oak as well as nearby retail.
The offering is positioned as a managed, income-oriented medical office property under a single-tenant arrangement.
Located at 20180 W 12 Mile Rd in Southfield, the building is centrally located with convenient access to I-696, including access off the Evergreen exit. Ample parking supports patient and staff arrivals, and the property benefits from its proximity to Corewell Health Royal Oak as well as nearby retail.
The offering is positioned as a managed, income-oriented medical office property under a single-tenant arrangement.
Key Highlights
- Single‑tenant medical office building with a NNN lease
- Net operating income of $160,000.00
- Well‑maintained, easily managed building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,495
Cap Rate
6.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,449,900
$2.4M
Cap Rate 7%
$1,749,929
$1.7M
Cap Rate 9%
$1,361,056
$1.4M
Market Conditions
NOI Build-Up for 9,052 SF
Gross rent
$228.1K $25.20/SF
− Vacancy
−$24.0K −$2.65/SF
EGI
$204.2K $22.55/SF
− OpEx
−$81.7K −$9.02/SF
NOI
$122.5K $13.53/SF
Area
Oakland County, MI
Vacancy
10.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,449,900
Cap Rate 7%
$1,749,929
Cap Rate 9%
$1,361,056
Alternative Uses
Best Use
Healthcare Medical
$1.75M
$1.53M – $2.04M
NOI $122,495 @ 7.0% cap · market cap 6.12%
Second Best
Office B
$445.2K
$389.5K – $519.4K
NOI $31,162 @ 7.0% cap · market cap 1.56%
Theoretical Best
Specialty Retail
$1.95M
$1.71M – $2.28M
NOI $136,671 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,102
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48076, MI
26,062
Population
11,016
Households
2.4
Avg Household Size
44
Median Age
44%
College-Educated
94%
High-School Grad
7.1 sq mi
ZIP Area
3,671
Density / Sq Mi
$85,171
Median Household Income
$50,210
Median Earnings
$1,451
Median Rent
$251,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- 9 Tel Animal Hospital — 17630 W 12 Mile Rd, Southfield, MI 48076
- North Branch Animal Hospital — 17630 W 12 Mile Rd, Southfield, MI 48076
Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained medical office building with a single-tenant NNN lease and ample parking.
Where is this medical office space located?
The property is located at 20180 W 12 Mile Rd Southfield, MI.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Single‑tenant medical office building with a NNN lease; Net operating income of $160,000.00; Well‑maintained, easily managed building
