Medical Building in Auburn
For Sale
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2240 N Opdyke Rd, Auburn Hills, MI 48326
3,150 SF medical building in Auburn Hills, Michigan.
Property Size3,176 SF
Price / SF$299.12
Days on Market142
Property Features for 2240 N Opdyke Rd
General Information
Standard status
Active
Size
3,176 SF
Class
B
Property subtype
Office
Investment Type
Owner/User
Building Details
Year Built
1973
Listing Agency:
NAI Farbman Southfield
(248) 798-9828
Listed By:
Jeff Cavazos · License #MI 6502123213
Source:
Crexi
Added: Mar 23
Changed: Aug 10
Last Checked: Aug 9 at 6:00AM
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 NAI Farbman Southfield
Investment Insights
Based on property information with market context.
This 3,150 SF building, constructed in 1973, is located in Auburn Hills, MI. Zoned I-1, the property is suitable for office or medical use. The property presents an opportunity for customization and expansion. It is an owner/user opportunity for medical professionals with a ready-to-go medical suite.
Key Highlights
- Prime 3,150 SF medical building.
- Ready‑to‑go medical suite.
- Strategic location in Auburn Hills, MI.
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
$42,979
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
4.52%
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%
$859,580
$859.6K
Cap Rate 7%
$613,986
$614.0K
Cap Rate 9%
$477,544
$477.5K
Market Conditions
NOI Build-Up for 3,176 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
$80.0K $25.20/SF
− Vacancy
−$8.4K −$2.65/SF
EGI
$71.6K $22.55/SF
− OpEx
−$28.7K −$9.02/SF
NOI
$43.0K $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 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%
$859,580
Cap Rate 7%
$613,986
Cap Rate 9%
$477,544
Alternative Uses
Best Use
Healthcare Medical
$614.0K
$537.2K – $716.3K
NOI $42,979 @ 7.0% cap · market cap 4.52%
Second Best
Office B
$156.2K
$136.7K – $182.2K
NOI $10,933 @ 7.0% cap · market cap 1.15%
Theoretical Best
Specialty Retail
$685.0K
$599.4K – $799.2K
NOI $47,953 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
147
Businesses Nearby
Well-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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - 3,150 SF medical building in Auburn Hills, Michigan.
Where is this medical office space located?
The property is located at 2240 N Opdyke Rd Auburn Hills, MI.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Prime 3,150 SF medical building.; Ready‑to‑go medical suite.; Strategic location in Auburn Hills, MI.
