Office Building with Maintenance
For Sale
$2,600,000
22280 E Price Dr, Clinton Township, MI 48035
The property includes a maintenance garage and carries R-3 zoning.
Property Size30,691 SF
Price / SF$84.72
Days on Market313
Property Features for 22280 E Price Dr
General Information
Standard status
Active
Size
30,691 SF
Property subtype
Office
Zoning
R-3
Building Details
Building Size
30,691 SF
Year Built
1969
Listing Agency:
Signature Associates - Southfield
(248) 948-0107
Listed By:
Christopher J. Monsour
(248) 948-0107
Source:
Cpix.resimplifi
Added: Oct 23, 2025
Changed: Aug 30
Last Checked: Aug 30 at 12:18PM
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 Signature Associates - Southfield
Investment Insights
Based on property information with market context.
This office property in Clinton Township, Michigan, was built in 1969 and encompasses 30,691 square feet. The improvements include a 2,752-square-foot maintenance garage, providing a distinct service or support area within the property.
Located at 22280 E. Price Dr, the site is zoned R-3. The property information identifies charter school and assisted living as potential applications; any proposed use should be evaluated against applicable zoning and approval requirements.
Located at 22280 E. Price Dr, the site is zoned R-3. The property information identifies charter school and assisted living as potential applications; any proposed use should be evaluated against applicable zoning and approval requirements.
Key Highlights
- 30,691‑square‑foot office property
- 2,752‑square‑foot maintenance garage
- Built in 1969
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
$105,654
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
4.06%
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%
$2,113,080
$2.1M
Cap Rate 7%
$1,509,343
$1.5M
Cap Rate 9%
$1,173,933
$1.2M
Market Conditions
NOI Build-Up for 30,691 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
$184.1K $6.00/SF
− Vacancy
−$43.3K −$1.41/SF
EGI
$140.9K $4.59/SF
− OpEx
−$35.2K −$1.15/SF
NOI
$105.7K $3.44/SF
Area
Macomb 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%
$2,113,080
Cap Rate 7%
$1,509,343
Cap Rate 9%
$1,173,933
Alternative Uses
Best Use
Apartment 5plus
$4.12M
$3.60M – $4.80M
NOI $288,223 @ 7.0% cap · market cap 11.09%
Second Best
Office B
$1.51M
$1.32M – $1.76M
NOI $105,654 @ 7.0% cap · market cap 4.06%
Theoretical Best
Specialty Retail
$5.75M
$5.03M – $6.70M
NOI $402,209 @ 7.0% cap · market cap 15.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
454
Businesses Nearby
Explore this area
Business Placement
Demographics for 48035, MI
34,018
Population
15,615
Households
2.2
Avg Household Size
40
Median Age
20%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
3,866
Density / Sq Mi
$69,245
Median Household Income
$41,167
Median Earnings
$1,111
Median Rent
$181,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - The property includes a maintenance garage and carries R-3 zoning.
Where is this office building located?
The property is located at 22280 E Price Dr Clinton Township, MI.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 30,691‑square‑foot office property; 2,752‑square‑foot maintenance garage; Built in 1969
