Income-Generating Office Condo
For Sale
$35,000
25140 Lahser Rd C203, Southfield, MI 48033
Office condo suite within an established office condominium, configured for leased offices and potential for continued occupancy.
Property Size707 SF
Price / SF$49.50
Days on Market82
Property Features for 25140 Lahser Rd C203
General Information
Standard status
Active
Size
707 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,922
Building Details
Building Size
707 SF
Year Built
1977
Listing Agency:
Front Page Properties
(313) 435-8550
Listed By:
Ebony Cochran · License #6501456182
(313) 435-8550
Source:
Elliman
Added: Jun 1
Changed: Aug 8
Last Checked: Jun 6 at 2:23AM
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.
This income-producing office condo is offered as Suite C-203 within the Matterhorn Office Condominium complex. The suite is approximately 707 square feet and is currently configured as multiple individual office spaces, supporting a professional office layout for tenants. Existing tenants are in place, with one vacant office available for additional rental. Monthly condo association dues are approximately $246 per month and may cover certain building or common area expenses; buyers should confirm the full scope of what is included.
The property is located at 25140 Lahser Rd in Southfield and provides convenient access to major area corridors, including Lahser Rd, 10 Mile Rd, Telegraph, Northwestern Hwy, and I-696. The location is designed to support client and staff access for ongoing office use within a business corridor.
For investors, the suite offers immediate lease-up structure with occupancy already established and a vacancy that could be marketed for additional rental income. For owner-users, it provides an opportunity to secure affordable professional office space in a condominium setting, with the ability to operate within an existing multi-office suite configuration. Buyer to verify all lease terms, rental income, taxes, association dues, suite configuration, and all information deemed material.
The property is located at 25140 Lahser Rd in Southfield and provides convenient access to major area corridors, including Lahser Rd, 10 Mile Rd, Telegraph, Northwestern Hwy, and I-696. The location is designed to support client and staff access for ongoing office use within a business corridor.
For investors, the suite offers immediate lease-up structure with occupancy already established and a vacancy that could be marketed for additional rental income. For owner-users, it provides an opportunity to secure affordable professional office space in a condominium setting, with the ability to operate within an existing multi-office suite configuration. Buyer to verify all lease terms, rental income, taxes, association dues, suite configuration, and all information deemed material.
Key Highlights
- Office condo suite C‑203 in the Matterhorn Office Condominium complex at 25140 Lahser Rd
- Approximately 707 sq ft office space with suite C‑203 configured as multiple individual office spaces
- Currently has existing tenants in place plus one vacant office available for additional rental upside (verify terms)
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
$2,434
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%
$48,680
$48.7K
Cap Rate 7%
$34,771
$34.8K
Cap Rate 9%
$27,044
$27.0K
Market Conditions
NOI Build-Up for 707 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
$4.2K $6.00/SF
− Vacancy
−$997 −$1.41/SF
EGI
$3.2K $4.59/SF
− OpEx
−$811 −$1.15/SF
NOI
$2.4K $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%
$48,680
Cap Rate 7%
$34,771
Cap Rate 9%
$27,044
Alternative Uses
Best Use
Office B
$34.8K
$30.4K – $40.6K
NOI $2,434 @ 7.0% cap · market cap 6.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$152.5K
$133.4K – $177.9K
NOI $10,675 @ 7.0% cap · market cap 30.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
765
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Office condo suite within an established office condominium, configured for leased offices and potential for continued occupancy.
Where is this office units located?
The property is located at 25140 Lahser Rd C203 Southfield, MI.
What is the asking price?
The asking price for this property is $35,000.
What are key features of this property?
This property features: Office condo suite C‑203 in the Matterhorn Office Condominium complex at 25140 Lahser Rd; Approximately 707 sq ft office space with suite C‑203 configured as multiple individual office spaces; Currently has existing tenants in place plus one vacant office available for additional rental upside (verify terms)
