Medical Office
For Sale
$450,000
2561 Elizabeth Lake Road, Waterford, MI 48328
COMMERCIAL - Waterford, MI
Property Size2,500 SF
Lot Size1.90 Acres
Price / SF$180
Days on Market278
Property Features for 2561 Elizabeth Lake Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
B1
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bathroom 1, Basement
Interior features
Broadband
Elementary school district
Waterford
Middle school district
Waterford
High school district
Waterford
Directions
West of Telegraph on Elizabeth Lake Road.
Subdivision
Oakland County - 70
Standard status
Active
APN
13-25-328-011
Size
2,500 SF
Lot size
1.90 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
T3N, R9E, SEC 25 SUPERVISORS PLAT NO 1 LOT 3
Tax Annual Amount
9558
Legal Description
T3N, R9E, SEC 25 SUPERVISORS PLAT NO 1 LOT 3
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1962
Number of units
1
Building materials
Brick
Listing Agency:
@properties Christie's Int'l
(248) 850-8632
Listed By:
Robert Lawrence
(248) 705-2086
Added: Oct 27, 2025
Changed: Jul 25
Last Checked: Jul 31 at 2:06AM
MLS# 25055101
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This established medical office is positioned along the Elizabeth Lake Road corridor and is already configured for medical use. The interior includes multiple exam rooms and a welcoming reception area with separate sick and well sides, along with dedicated lab space. A full basement adds practical support space, including a staff break room and ample storage.
The property is offered for sale in Waterford Township, on a parcel of about 1.9 acres, with additional acreage noted for future expansion or development. It is located near retail and residential neighborhoods, with access to major thoroughfares.
While new ownership may consider cosmetic updates, the building is described as fully functional and ready for occupancy, supported by an existing layout intended to support medical or wellness use.
The property is offered for sale in Waterford Township, on a parcel of about 1.9 acres, with additional acreage noted for future expansion or development. It is located near retail and residential neighborhoods, with access to major thoroughfares.
While new ownership may consider cosmetic updates, the building is described as fully functional and ready for occupancy, supported by an existing layout intended to support medical or wellness use.
Key Highlights
- Established medical office on Elizabeth Lake Road corridor in Waterford Township
- Configured for medical use with multiple exam rooms and a reception area with separate sick and well sides
- Includes dedicated lab space for on‑site medical services
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.0k | $25.20 |
| − Vacancy | −$6.6k | −$2.65 |
| EGI | $56.4k | $22.55 |
| − OpEx | −$22.6k | −$9.02 |
| NOI | $33.8k | $13.53 |
2,500 SF · lease $25.20/SF/yr · vacancy 10.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$483.3K
$422.9K – $563.9K
NOI $33,831 @ 7.0% cap · market cap 7.52%
Second Best
Office B
$122.9K
$107.6K – $143.4K
NOI $8,606 @ 7.0% cap · market cap 1.91%
Theoretical Best
Specialty Retail
$539.2K
$471.8K – $629.1K
NOI $37,746 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48328, MI
24,178
Population
11,938
Households
2
Avg Household Size
43
Median Age
27%
College-Educated
93%
High-School Grad
8.9 sq mi
ZIP Area
2,717
Density / Sq Mi
$69,788
Median Household Income
$42,084
Median Earnings
$1,041
Median Rent
$210,800
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?
Medical Office Space - Medical office configured with exam rooms, separate sick and well reception areas, lab space, and a full basement.
Where is this medical office space located?
The property is located at 2561 Elizabeth Lake Road Waterford, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Established medical office on Elizabeth Lake Road corridor in Waterford Township; Configured for medical use with multiple exam rooms and a reception area with separate sick and well sides; Includes dedicated lab space for on‑site medical services
