Medical Office Condominium
230 Temple St Mason, MI 48854
230 Temple St, Mason, MI, 48854
$495,000
For Sale
$495,000
Established medical suite with multiple exam rooms, labs, private offices, and a finished basement with storage.
Property Size5,380 SF
Price / SF$92.01
Days on Market37
Property Features for 230 Temple St
General Information
- Standard status
- Active
- Size
- 5,380 SF
- Property subtype
- Office
Building Details
- Year Built
- 1976
Listing agency
Martin Commercial Properties
(517) 290-7606
Listed by
Eric F. Rosekrans · License #6501153826
(517) 290-7606
Source
Cpix.resimplifi
Added: Jun 16 Updated: Jul 21 at 10:58PM Checked: Jul 21 at 10:58PM
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 Martin Commercial Properties
Investment Insights
Based on property information with market context.
The property offers an established medical suite configured across two condominium units with a finished basement. The space includes numerous exam rooms, lab and break rooms, private offices, and a spacious lobby and reception area. The finished basement was originally designed for office and break room use and is currently utilized for storage.
The building is adjacent to the UM Health-Sparrow Mason campus, which provides a range of medical services including primary care and urgent care. It is also within one mile of Downtown Mason, local middle and high schools, and the Ingham County Fairgrounds.
The layout is designed to support medical use, with dedicated clinical and administrative areas plus additional finished space in the basement.
The building is adjacent to the UM Health-Sparrow Mason campus, which provides a range of medical services including primary care and urgent care. It is also within one mile of Downtown Mason, local middle and high schools, and the Ingham County Fairgrounds.
The layout is designed to support medical use, with dedicated clinical and administrative areas plus additional finished space in the basement.
Key Highlights
- Established medical suite (Year built: 1976) with a total of 5,380 SF across two condominium units and a finished basement
- Multiple exam rooms plus lab and break rooms configured for medical use
- Includes private offices and a spacious lobby and reception area
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $96.8k | $18.00 |
| − Vacancy | −$21.2k | −$3.94 |
| EGI | $75.6k | $14.06 |
| − OpEx | −$30.3k | −$5.62 |
| NOI | $45.4k | $8.43 |
5,380 SF · lease $18.00/SF/yr · vacancy 21.90% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$648.3K
$567.2K – $756.3K
NOI $45,379 @ 7.0% cap · market cap 9.17%
Second Best
Office B
$648.3K
$567.2K – $756.3K
NOI $45,379 @ 7.0% cap · market cap 9.17%
Theoretical Best
Office A
$864.4K
$756.3K – $1.01M
NOI $60,506 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Mason Primary Care ...
Medical Group
Stephen Witzke, M.D.
Pediatrician
Steen Jonathan R ...
Physician
MB Dental Solutions, ...
Dental Office
Jamie M. Greenblatt, ...
Physician
Similar For Sale Nearby
Similar Off Market Nearby
- Theravet — 702 Temple St, Mason, MI 48854
FAQs
What type of property is this?
Medical Office Space - Established medical suite with multiple exam rooms, labs, private offices, and a finished basement with storage.
Where is this medical office space located?
The property is located at 230 Temple St Mason, MI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Established medical suite (Year built: 1976) with a total of 5,380 SF across two condominium units and a finished basement; Multiple exam rooms plus lab and break rooms configured for medical use; Includes private offices and a spacious lobby and reception area
