Freestanding Medical Office
New
For Sale
Contact for pricing
24725 JEFFERSON AVE, St Clair Shores, MI 48080
Henry Ford Health occupies the property under a double-net lease, with no renewal options remaining.
Property Size12,080 SF
Lot Size1.08 Acres
Price / SF$257.12
Days on Market6
Property Features for 24725 JEFFERSON AVE
General Information
Standard status
Active
Size
12,080 SF
Lot size
1.08 Acres
Property subtype
Office
Occupancy
100%
Additional Details
Road Access
Yes
Building Details
Buildings
1
Tenancy
Single
Owner Occupied
No
Listing Agency:
Encore Real Estate Investment Services
Listed By:
Deno Bistolarides · License #6502378067
(248) 702-0288
Source:
Crexi
Added: Sep 21
Changed: Sep 24
Last Checked: Sep 24 at 3:22PM
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 Encore Real Estate Investment Services
Investment Insights
Based on property information with market context.
The freestanding medical office building contains 12,080 square feet on a 1.08-acre site. Henry Ford Health occupies the property and has operated there for more than 38 years. The facility supports outpatient services that include family medicine, imaging, radiology, laboratory, pharmacy, primary care, and X-ray care.
The property fronts Jefferson Avenue in St. Clair Shores’ Nautical Mile district, with Roseville, Fraser, Eastpointe, and Harper Woods identified as nearby communities. The lease is double net, with the tenant responsible for taxes, CAM, and insurance. Henry Ford Health carries A / A2 credit ratings.
The property fronts Jefferson Avenue in St. Clair Shores’ Nautical Mile district, with Roseville, Fraser, Eastpointe, and Harper Woods identified as nearby communities. The lease is double net, with the tenant responsible for taxes, CAM, and insurance. Henry Ford Health carries A / A2 credit ratings.
Key Highlights
- 12,080‑square‑foot freestanding medical office building
- Situated on 1.08 acres along Jefferson Avenue in St. Clair Shores
- Occupied by Henry Ford Health for more than 38 years
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
$126,648
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
4.08%
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%
$2,532,960
$2.5M
Cap Rate 7%
$1,809,257
$1.8M
Cap Rate 9%
$1,407,200
$1.4M
Market Conditions
NOI Build-Up for 12,080 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
$239.2K $19.80/SF
− Vacancy
−$28.1K −$2.33/SF
EGI
$211.1K $17.47/SF
− OpEx
−$84.4K −$6.99/SF
NOI
$126.6K $10.48/SF
Area
Macomb County, MI
Vacancy
11.75%
Lease Rate
$19.80 /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%
$2,532,960
Cap Rate 7%
$1,809,257
Cap Rate 9%
$1,407,200
Alternative Uses
Best Use
Healthcare Medical
$1.81M
$1.58M – $2.11M
NOI $126,648 @ 7.0% cap · market cap 4.08%
Second Best
Office B
$594.1K
$519.8K – $693.1K
NOI $41,585 @ 7.0% cap · market cap 1.34%
Theoretical Best
Specialty Retail
$2.26M
$1.98M – $2.64M
NOI $158,310 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
572
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48080, MI
22,272
Population
11,424
Households
1.9
Avg Household Size
44
Median Age
33%
College-Educated
96%
High-School Grad
4.4 sq mi
ZIP Area
5,062
Density / Sq Mi
$69,884
Median Household Income
$48,837
Median Earnings
$1,070
Median Rent
$188,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Henry Ford Health occupies the property under a double-net lease, with no renewal options remaining.
Where is this medical office space located?
The property is located at 24725 JEFFERSON AVE St Clair Shores, MI.
What is the asking price?
The asking price for this property is $3,106,000.
What are key features of this property?
This property features: 12,080‑square‑foot freestanding medical office building; Situated on 1.08 acres along Jefferson Avenue in St. Clair Shores; Occupied by Henry Ford Health for more than 38 years
