Medical Office Space with
For Sale
$1,050,000
24548 W Warren Street, Dearborn Heights, MI 48127
Occupied medical office with on-site parking and appointment-only property tours.
Property Size3,281 SF
Price / SF$320.02
Days on Market11
Property Features for 24548 W Warren Street
General Information
Standard status
Active
Size
3,281 SF
Property subtype
Industrial
Amenities
3
100.35100
Building Details
Year Built
19
Abandoned
No
Listing Agency:
RE/MAX Team 2000
(313) 525-1101
Listed By:
Yousef Beydoun · License #6501354088
(313) 525-1101
Source:
Xome
Added: Jul 30
Changed: Aug 9
Last Checked: Aug 9 at 8:36AM
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 RE/MAX Team 2000
Investment Insights
Based on property information with market context.
This 3,281 SF medical office property is currently occupied and includes on-site parking. The building presents frontage along Warren Street and is positioned in Dearborn Heights, Michigan.
Property access is controlled for tours: all showings must be scheduled by appointment, and prospective parties should not approach or contact the office without prior arrangements.
Property access is controlled for tours: all showings must be scheduled by appointment, and prospective parties should not approach or contact the office without prior arrangements.
Key Highlights
- 3,281 SF medical office property
- Currently occupied
- Frontage along Warren Street
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
$34,551
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
3.29%
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%
$691,020
$691.0K
Cap Rate 7%
$493,586
$493.6K
Cap Rate 9%
$383,900
$383.9K
Market Conditions
NOI Build-Up for 3,281 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
$65.8K $20.04/SF
− Vacancy
−$8.2K −$2.49/SF
EGI
$57.6K $17.55/SF
− OpEx
−$23.0K −$7.02/SF
NOI
$34.6K $10.53/SF
Area
Wayne County, MI
Vacancy
12.42%
Lease Rate
$20.04 /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%
$691,020
Cap Rate 7%
$493,586
Cap Rate 9%
$383,900
Alternative Uses
Best Use
Healthcare Medical
$493.6K
$431.9K – $575.9K
NOI $34,551 @ 7.0% cap · market cap 3.29%
Second Best
Office B
$161.4K
$141.2K – $188.3K
NOI $11,295 @ 7.0% cap · market cap 1.08%
Theoretical Best
Specialty Retail
$607.5K
$531.5K – $708.7K
NOI $42,522 @ 7.0% cap · market cap 4.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48127, MI
41,222
Population
14,616
Households
2.8
Avg Household Size
35
Median Age
29%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
5,354
Density / Sq Mi
$63,084
Median Household Income
$35,340
Median Earnings
$1,231
Median Rent
$217,000
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.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Occupied medical office with on-site parking and appointment-only property tours.
Where is this medical office space located?
The property is located at 24548 W Warren Street Dearborn Heights, MI.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 3,281 SF medical office property; Currently occupied; Frontage along Warren Street
