Two-Story Medical Office
23900 Orchard Lake Rd Farmington, MI 48336
23900 Orchard Lake Rd, Farmington, MI, 48336
$1,500,000
For Sale
$1,500,000
Two floors plus a walkout lower level with updated finishes, basement storage, and large surface parking.
Property Size16,218 SF
Price / SF$92.49
Days on Market423
Property Features for 23900 Orchard Lake Rd
General Information
- Standard status
- Active
- Size
- 16,218 SF
- Property subtype
- Office
Building Details
- Year Built
- 1968
Listing agency
NAI Farbman
(248) 563-0739
Listed by
Wendy Acho · License #6501411463
(248) 563-0739
Source
Cpix.resimplifi
Added: May 26, 2025 Updated: Jul 22 at 12:18AM Checked: Jul 22 at 2:07AM
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
Investment Insights
Based on property information with market context.
This two-story medical office building includes a walkout lower level and basement storage. The property totals 16,218 SF and features updated finishes throughout. There are two levels at 5,406 RSF per floor, providing straightforward space planning across the building.
Ingress and egress are described as easy off Orchard Lake Rd and Leelane Street, supporting convenient daily access. The site includes wall and monument signage and is positioned for high traffic exposure and visibility.
The building is located within the OS-2 Planned Office Service District and includes large surface parking on site for visitor and staff use.
Ingress and egress are described as easy off Orchard Lake Rd and Leelane Street, supporting convenient daily access. The site includes wall and monument signage and is positioned for high traffic exposure and visibility.
The building is located within the OS-2 Planned Office Service District and includes large surface parking on site for visitor and staff use.
Key Highlights
- 16,218 SF medical/office building with 2 floors plus a walkout lower level
- 5,406 RSF per floor (2 floors) with updated finishes
- Basement storage included
Local Financial Insights For Office B
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 | $97.3k | $6.00 |
| − Vacancy | −$22.9k | −$1.41 |
| EGI | $74.4k | $4.59 |
| − OpEx | −$18.6k | −$1.15 |
| NOI | $55.8k | $3.44 |
16,218 SF · lease $6.00/SF/yr · vacancy 23.50% · expense 25.00%
Alternative Uses
Best Use
Healthcare Medical
$3.14M
$2.74M – $3.66M
NOI $219,468 @ 7.0% cap · market cap 14.63%
Second Best
Office B
$797.6K
$697.9K – $930.5K
NOI $55,830 @ 7.0% cap · market cap 3.72%
Theoretical Best
Specialty Retail
$3.50M
$3.06M – $4.08M
NOI $244,866 @ 7.0% cap · market cap 16.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Eckler Electric
Electrical Service
Dmc Urgent Care
Medical Clinic
DMC Pho
Association Or Organization
Dr. Arti Madhavan, ...
Pediatrician
Bloomfield Medical Center
Medical Clinic
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FAQs
What type of property is this?
Medical Office Space - Two floors plus a walkout lower level with updated finishes, basement storage, and large surface parking.
Where is this medical office space located?
The property is located at 23900 Orchard Lake Rd Farmington, MI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 16,218 SF medical/office building with 2 floors plus a walkout lower level; 5,406 RSF per floor (2 floors) with updated finishes; Basement storage included
