Leased Office Condo
New
For Sale
$39,000
25140 Lahser Road, Southfield, MI 48033
Configured with multiple offices, including one currently available for occupancy or leasing.
Property Size786 SF
Price / SF$49.56
Days on Market7
Property Features for 25140 Lahser Road
General Information
Standard status
Active
Size
786 SF
Property subtype
Commercial
Zoning
Commercial
Occupancy
67%
Financials
Gross Income
$9,000
HOA Fee
$275
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
3
Taxes and HOA fees
Annual Taxes
$2,002
Building Details
Building Size
786 SF
Year Built
1977
Tenancy
Multi
Listing Agency:
Front Page Properties
(313) 435-8550
Listed By:
Ebony Cochran · License #6501456182
Source:
Irishhillsfivestarhomes
Added: Aug 5
Changed: Aug 7
Last Checked: Aug 10 at 11:40AM
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-271 is an office condominium unit within the Matterhorn Office Condominium complex, offering approximately 787 sq ft of space. The interior is divided into three office areas, with two currently occupied and one vacant, resulting in approximately 66.67% leased. The configuration supports continued rental use or partial owner occupancy alongside existing tenancy.
The property is located at 25140 Lahser Road in Southfield, with access to Lahser Rd, 10 Mile Rd, Telegraph, Northwestern Hwy, and I-696. The office condo was built in 1977 and carries Commercial zoning. Suite C-271 may also be acquired with additional units in a larger 7-unit office condo portfolio, subject to the seller’s consideration of individual or package offers.
The property is located at 25140 Lahser Road in Southfield, with access to Lahser Rd, 10 Mile Rd, Telegraph, Northwestern Hwy, and I-696. The office condo was built in 1977 and carries Commercial zoning. Suite C-271 may also be acquired with additional units in a larger 7-unit office condo portfolio, subject to the seller’s consideration of individual or package offers.
Key Highlights
- Approximately 787 sq ft of office space in Suite C‑271
- Three‑office configuration with 2 occupied offices and 1 vacant office
- Approximately 66.67% leased
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
$2,709
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
6.95%
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%
$54,180
$54.2K
Cap Rate 7%
$38,700
$38.7K
Cap Rate 9%
$30,100
$30.1K
Market Conditions
NOI Build-Up for 787 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
$4.7K $6.00/SF
− Vacancy
−$1.1K −$1.41/SF
EGI
$3.6K $4.59/SF
− OpEx
−$903 −$1.15/SF
NOI
$2.7K $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%
$54,180
Cap Rate 7%
$38,700
Cap Rate 9%
$30,100
Alternative Uses
Best Use
Office B
$38.7K
$33.9K – $45.2K
NOI $2,709 @ 7.0% cap · market cap 6.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$169.7K
$148.5K – $198.0K
NOI $11,882 @ 7.0% cap · market cap 30.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
66.7%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road 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 - Configured with multiple offices, including one currently available for occupancy or leasing.
Where is this office units located?
The property is located at 25140 Lahser Road Southfield, MI.
What is the asking price?
The asking price for this property is $39,000.
What are key features of this property?
This property features: Approximately 787 sq ft of office space in Suite C‑271; Three‑office configuration with 2 occupied offices and 1 vacant office; Approximately 66.67% leased
