Medical Office Building with Exam
2561 Elizabeth Lake Road, Waterford, MI 48328
COMMERCIAL - Waterford, MI
Type:Office
Property size:
2,500 SFLot size:
1.90 AcresPrice / SF:
$180/SF- Added:
- Oct 27, 2025
- Days on Market:
- 231
- Last Refresh:
- Jun 14 at 6:06 pm
Property Features for 2561 Elizabeth Lake Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bathroom 2, Bathroom 1, Basement
- Interior features
- Broadband
- 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
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 agent Robert Lawrence (248) 705-2086
Listing office @properties Christie's Int'l 400 S Old Woodward Ave #100, Birmingham, MI (248) 850-8632
Listing date Oct 27, 2025
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.
HighLights
- Established medical office along Elizabeth Lake Road corridor in Waterford Township
- Medical‑ready layout with multiple exam rooms and a reception area with separate sick and well sides
- Dedicated lab space plus full basement with staff break room and ample storage
- Brick building with forced‑air heat and central air conditioning
- Utilities include cable available and broadband
- Year built: 1962; located on a generous parcel with additional acreage for possible expansion
Overview
This established medical office building is arranged around a clinic-ready interior, featuring multiple exam rooms and a welcoming reception area designed with separate sick and well sides. Dedicated lab space supports in-house patient services, and the full basement provides additional operational utility with a staff break room and ample storage.
The property is positioned along the busy Elizabeth Lake Road corridor in Waterford Township, offering practical access and strong day-to-day visibility. It sits on a generous parcel with additional acreage, creating options for future expansion or development, subject to applicable requirements.
For medical or wellness operators, the existing layout is built for healthcare workflows and can help reduce downtime associated with reconfiguration. While new owners may choose to address cosmetic updates, the building is described as fully functional and ready for occupancy. Its combination of exam, reception, and lab space, along with basement support areas, makes it a straightforward fit for practices seeking an operationally complete setting along a heavily trafficked roadway.
The property is positioned along the busy Elizabeth Lake Road corridor in Waterford Township, offering practical access and strong day-to-day visibility. It sits on a generous parcel with additional acreage, creating options for future expansion or development, subject to applicable requirements.
For medical or wellness operators, the existing layout is built for healthcare workflows and can help reduce downtime associated with reconfiguration. While new owners may choose to address cosmetic updates, the building is described as fully functional and ready for occupancy. Its combination of exam, reception, and lab space, along with basement support areas, makes it a straightforward fit for practices seeking an operationally complete setting along a heavily trafficked roadway.
Local 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 local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar Places Nearby
- Waterford Animal Clinic — 3711 Elizabeth Lake Rd, Waterford Twp, MI 48328
Location Insight
- Map
- Local Demand
- City
- Waterford
- County
- Oakland
- State
- Michigan
- Longitude
- -83.336981
- Latitude
- 42.638755
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - Well-configured medical facility with multiple exam rooms, sick and well reception flow, lab space, and full basement support areas.
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 along Elizabeth Lake Road corridor in Waterford Township; Medical‑ready layout with multiple exam rooms and a reception area with separate sick and well sides; Dedicated lab space plus full basement with staff break room and ample storage
