Medical Office Space with Lab
For Sale
$3,000,000
2191 South Blvd, Auburn Hills, MI 48326
Flexible medical suites with renovated common areas, patient parking, and access to custom finishes and build-outs.
Property Size24,581 SF
Price / SF$122.05
Days on Market321
Property Features for 2191 South Blvd
General Information
Standard status
Active
Size
24,581 SF
Property subtype
Office, Healthcare
Zoning
O
Building Details
Building Size
24,581 SF
Listing Agency:
Colliers
(248) 981-6468
Listed By:
Gary P. Grochowski
(248) 981-6468
Source:
Cpix.resimplifi
Added: Oct 14, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:53AM
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 Colliers
Investment Insights
Based on property information with market context.
Medical office space at 2191 South Blvd includes suites ranging from 800 to 4,530 RSF, along with 7,000 RSF of lower-level space suited to lab, testing, or clinic functions. The property encompasses 24,581 square feet and is zoned O. Renovations have updated the common areas, lighting, landscaping, and front entrance, while custom finishes and build-outs are available.
The Auburn Hills location is near Trinity Oakland Hospital and offers access to Corewell Royal Oak, Corewell Troy, and Ascension Rochester. Parking is provided for patients and employees, supporting both clinical operations and daily staff use.
The Auburn Hills location is near Trinity Oakland Hospital and offers access to Corewell Royal Oak, Corewell Troy, and Ascension Rochester. Parking is provided for patients and employees, supporting both clinical operations and daily staff use.
Key Highlights
- 800 to 4,530 RSF of medical space available
- 7,000 RSF lower‑level area for lab, testing, or clinic use
- 24,581‑square‑foot property zoned O
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
$84,620
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
2.82%
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%
$1,692,400
$1.7M
Cap Rate 7%
$1,208,857
$1.2M
Cap Rate 9%
$940,222
$940.2K
Market Conditions
NOI Build-Up for 24,581 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
$147.5K $6.00/SF
− Vacancy
−$34.7K −$1.41/SF
EGI
$112.8K $4.59/SF
− OpEx
−$28.2K −$1.15/SF
NOI
$84.6K $3.44/SF
Area
Oakland County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,692,400
Cap Rate 7%
$1,208,857
Cap Rate 9%
$940,222
Alternative Uses
Best Use
Healthcare Medical
$4.75M
$4.16M – $5.54M
NOI $332,640 @ 7.0% cap · market cap 11.09%
Second Best
Office B
$1.21M
$1.06M – $1.41M
NOI $84,620 @ 7.0% cap · market cap 2.82%
Theoretical Best
Specialty Retail
$5.30M
$4.64M – $6.19M
NOI $371,134 @ 7.0% cap · market cap 12.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
260
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48326, MI
22,228
Population
12,219
Households
1.8
Avg Household Size
36
Median Age
47%
College-Educated
93%
High-School Grad
16.9 sq mi
ZIP Area
1,315
Density / Sq Mi
$79,468
Median Household Income
$46,012
Median Earnings
$1,411
Median Rent
$235,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Flexible medical suites with renovated common areas, patient parking, and access to custom finishes and build-outs.
Where is this medical office space located?
The property is located at 2191 South Blvd Auburn Hills, MI.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 800 to 4,530 RSF of medical space available; 7,000 RSF lower‑level area for lab, testing, or clinic use; 24,581‑square‑foot property zoned O
