Medical Office Space with NNN
For Sale
$2,500,000
205 Rowe Rd, Milford, MI 48380
Currently occupied by Encore Veterinary Clinic under a triple-net lease.
Property Size10,000 SF
Lot Size3.75 Acres
Price / SF$250
Days on Market165
Property Features for 205 Rowe Rd
General Information
Standard status
Active
Size
10,000 SF
Lot size
3.75 Acres
Property subtype
Office
Zoning
RO-1
Additional Details
Road Access
Yes
Building Details
Building Size
10,000 SF
Tenancy
Single
Listing Agency:
Gerdom Realty & Investment
Listed By:
Bill McLeod
(248) 242-6766
Source:
Cpix.resimplifi
Added: May 5
Changed: Oct 6
Last Checked: Oct 14 at 7:37PM
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 Gerdom Realty & Investment
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Investment Insights
Based on property information with market context.
This 10,000 SF medical office property occupies approximately 3.75 acres at 205 Rowe Rd in Milford, Michigan. The parcel is positioned at the corner of Rowe Road and Milford Road, providing a defined corner setting for the existing specialty medical use.
Encore Veterinary Clinic currently operates at the property under a triple-net lease with roughly 8 years remaining. The combination of an established veterinary clinic occupancy, substantial land area, and an existing NNN lease defines the property’s current configuration.
Encore Veterinary Clinic currently operates at the property under a triple-net lease with roughly 8 years remaining. The combination of an established veterinary clinic occupancy, substantial land area, and an existing NNN lease defines the property’s current configuration.
Key Highlights
- 10,000 SF medical office property on approximately 3.75 acres
- Current home of Encore Veterinary Clinic
- Triple‑net lease with roughly 8 years remaining
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$135,324
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,706,480
$2.7M
Cap Rate 7%
$1,933,200
$1.9M
Cap Rate 9%
$1,503,600
$1.5M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$252.0K $25.20/SF
− Vacancy
−$26.5K −$2.65/SF
EGI
$225.5K $22.55/SF
− OpEx
−$90.2K −$9.02/SF
NOI
$135.3K $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%
$2,706,480
Cap Rate 7%
$1,933,200
Cap Rate 9%
$1,503,600
Alternative Uses
Best Use
Healthcare Medical
$1.93M
$1.69M – $2.26M
NOI $135,324 @ 7.0% cap · market cap 5.41%
Second Best
Office B
$491.8K
$430.3K – $573.8K
NOI $34,425 @ 7.0% cap · market cap 1.38%
Theoretical Best
Specialty Retail
$2.16M
$1.89M – $2.52M
NOI $150,984 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48380, MI
7,373
Population
2,722
Households
2.7
Avg Household Size
48
Median Age
46%
College-Educated
95%
High-School Grad
28.6 sq mi
ZIP Area
258
Density / Sq Mi
$133,224
Median Household Income
$76,190
Median Earnings
$438,700
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
- Veterinary Care Services of Milford — 205 Rowe Rd, Milford Charter Twp, MI 48380
- Pet Authority Animal Hospital — 205 Rowe Rd, Milford, MI 48380
Frequently Asked Questions
What type of property is this?
Medical Office Space - Currently occupied by Encore Veterinary Clinic under a triple-net lease.
Where is this medical office space located?
The property is located at 205 Rowe Rd Milford, MI.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 10,000 SF medical office property on approximately 3.75 acres; Current home of Encore Veterinary Clinic; Triple‑net lease with roughly 8 years remaining
