Medical Office
For Sale
Contact for pricing
24001 ORCHARD LAKE RD, Farmington Hills, MI 48336
Condominium medical workspace positioned for professional healthcare use.
Property Size1,804 SF
Price / SF$237.80
Days on Market100
Property Features for 24001 ORCHARD LAKE RD
General Information
Standard status
Active
Size
1,804 SF
Property subtype
Office
Investment Type
Owner/User
Building Details
Year Built
1960
Year Renovated
2006
Buildings
1
Units
1
Listing Agency:
ACRES Group
Listed By:
Matthew McGinnis · License #MI 6502415978
Source:
Crexi
Added: Jul 14
Changed: Oct 14
Last Checked: Oct 20 at 8:23PM
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 ACRES Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This medical office condominium contains 1,804 square feet of professional space. The property was built in 1960 and is located at 24001 Orchard Lake Road in Farmington Hills, Michigan.
Key Highlights
- 1,804‑square‑foot medical office space
- Condominium ownership structure
- Built in 1960
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,412
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$488,240
$488.2K
Cap Rate 7%
$348,743
$348.7K
Cap Rate 9%
$271,244
$271.2K
Market Conditions
NOI Build-Up for 1,804 SF
Gross rent
$45.5K $25.20/SF
− Vacancy
−$4.8K −$2.65/SF
EGI
$40.7K $22.55/SF
− OpEx
−$16.3K −$9.02/SF
NOI
$24.4K $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 Rate 5%
$488,240
Cap Rate 7%
$348,743
Cap Rate 9%
$271,244
Alternative Uses
Best Use
Healthcare Medical
$348.7K
$305.2K – $406.9K
NOI $24,412 @ 7.0% cap · market cap 5.69%
Second Best
Office B
$88.7K
$77.6K – $103.5K
NOI $6,210 @ 7.0% cap · market cap 1.45%
Theoretical Best
Specialty Retail
$389.1K
$340.5K – $454.0K
NOI $27,238 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
647
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48336, MI
26,802
Population
12,296
Households
2.2
Avg Household Size
42
Median Age
44%
College-Educated
92%
High-School Grad
9.3 sq mi
ZIP Area
2,882
Density / Sq Mi
$85,325
Median Household Income
$54,077
Median Earnings
$1,141
Median Rent
$247,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Plaza Veterinary Hospital — 22820 Mooney St, Farmington, MI 48336
- Plaza Veterinary Hospital: Adams Tracy L DVM — 22820 Mooney St, Farmington, MI 48336
- Christian M. Ast, DVM — 22820 Mooney St, Farmington, MI 48336
Frequently Asked Questions
What type of property is this?
Medical Office Space - Condominium medical workspace positioned for professional healthcare use.
Where is this medical office space located?
The property is located at 24001 ORCHARD LAKE RD Farmington Hills, MI.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: 1,804‑square‑foot medical office space; Condominium ownership structure; Built in 1960
