Multi-Office Condo
For Sale
$60,000
25140 LAHSER RD, Southfield, MI 48033
Income-producing office condo suite with five rentable offices and current occupancy of four offices.
Property Size1,257 SF
Price / SF$47.73
Days on Market94
Property Features for 25140 LAHSER RD
General Information
Standard status
Active
Size
1,257 SF
Property subtype
Industrial
Occupancy
80%
Additional Details
Highway Access
Yes
Office Units
5
Amenities
3
11080
Building Details
Year Built
19
Tenancy
Multi
Listing Agency:
(313) 435-8550
Listed By:
Front Page Properties
(313) 435-8550
Source:
Xome
Added: May 15
Changed: Aug 12
Last Checked: Aug 16 at 3:06AM
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 Front Page Properties
Investment Insights
Based on property information with market context.
Suite C-242 is an income-producing office condo within the Matterhorn Office Condominium complex. The suite is configured as five individual rentable office spaces, with four offices currently occupied and one office vacant, resulting in approximately 80% leased occupancy. Current rental income is approximately $1,130 per month, with additional potential tied to leasing the remaining vacant office.
The property is located at 25140 Lahser Rd in Southfield and is described as being convenient to Lahser Rd, 10 Mile Rd, Telegraph, Northwestern Hwy, and I-696, providing access for clients, staff, and professional service users.
Monthly condo association dues are approximately $436 per month and may cover certain building or common area expenses. Buyer and buyer’s agent should verify all lease terms, rental income, taxes, association dues, square footage, suite configuration, bylaws, and any other material information.
The property is located at 25140 Lahser Rd in Southfield and is described as being convenient to Lahser Rd, 10 Mile Rd, Telegraph, Northwestern Hwy, and I-696, providing access for clients, staff, and professional service users.
Monthly condo association dues are approximately $436 per month and may cover certain building or common area expenses. Buyer and buyer’s agent should verify all lease terms, rental income, taxes, association dues, square footage, suite configuration, bylaws, and any other material information.
Key Highlights
- Suite C‑242 offers approximately 1,257 sq ft of office space in the Matterhorn Office Condominium at 25140 Lahser Rd
- Configured with 5 individual rentable office spaces; 4 offices occupied and 1 office vacant for ~80% leased occupancy
- Current rental income is approximately $1,130/month, with potential additional income by leasing the remaining vacant office
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
$4,327
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
7.21%
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%
$86,540
$86.5K
Cap Rate 7%
$61,814
$61.8K
Cap Rate 9%
$48,078
$48.1K
Market Conditions
NOI Build-Up for 1,257 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
$7.5K $6.00/SF
− Vacancy
−$1.8K −$1.41/SF
EGI
$5.8K $4.59/SF
− OpEx
−$1.4K −$1.15/SF
NOI
$4.3K $3.44/SF
Area
Oakland County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
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%
$86,540
Cap Rate 7%
$61,814
Cap Rate 9%
$48,078
Alternative Uses
Best Use
Office B
$61.8K
$54.1K – $72.1K
NOI $4,327 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$271.1K
$237.2K – $316.3K
NOI $18,979 @ 7.0% cap · market cap 31.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Office units
80%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Explore this area
Business Placement
Demographics for 48033, MI
17,207
Population
9,198
Households
1.9
Avg Household Size
47
Median Age
33%
College-Educated
93%
High-School Grad
9.1 sq mi
ZIP Area
1,891
Density / Sq Mi
$55,599
Median Household Income
$45,192
Median Earnings
$1,242
Median Rent
$195,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Income-producing office condo suite with five rentable offices and current occupancy of four offices.
Where is this office units located?
The property is located at 25140 LAHSER RD Southfield, MI.
What is the asking price?
The asking price for this property is $60,000.
What are key features of this property?
This property features: Suite C‑242 offers approximately 1,257 sq ft of office space in the Matterhorn Office Condominium at 25140 Lahser Rd; Configured with 5 individual rentable office spaces; 4 offices occupied and 1 office vacant for ~80% leased occupancy; Current rental income is approximately $1,130/month, with potential additional income by leasing the remaining vacant office
