Medical Office Building For
For Sale
$2,375,000
26210 Harper Avenue, St Clair Shores, MI 48081
Two-tenant medical office building, 15,566 SF, fully occupied.
Property Size15,566 SF
Price / SF$152.58
Days on Market273
Property Features for 26210 Harper Avenue
General Information
Standard status
Active
Size
15,566 SF
Property subtype
Office
Listing Agency:
(313) 953-0430
Listed By:
Harrison Yaldoo
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Jul 6
Last Checked: Aug 20 at 4:31AM
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 Harrison Yaldoo
Investment Insights
Based on property information with market context.
This is a two-tenant medical office building for sale. The building has 15,566 square feet divided into 2 units and is 100% occupied. The property is located on Harper Avenue, between 10 and 11 Mile Road, in St. Clair Shores, Michigan.
Key Highlights
- 100% occupied medical office building
- Two tenant building with 2 units
- 15,566 SF building
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
$163,196
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
6.87%
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%
$3,263,920
$3.3M
Cap Rate 7%
$2,331,371
$2.3M
Cap Rate 9%
$1,813,289
$1.8M
Market Conditions
NOI Build-Up for 15,566 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
$308.2K $19.80/SF
− Vacancy
−$36.2K −$2.33/SF
EGI
$272.0K $17.47/SF
− OpEx
−$108.8K −$6.99/SF
NOI
$163.2K $10.48/SF
Area
Macomb County, MI
Vacancy
11.75%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
40.00%
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%
$3,263,920
Cap Rate 7%
$2,331,371
Cap Rate 9%
$1,813,289
Alternative Uses
Best Use
Healthcare Medical
$2.33M
$2.04M – $2.72M
NOI $163,196 @ 7.0% cap · market cap 6.87%
Second Best
Office B
$765.5K
$669.8K – $893.1K
NOI $53,586 @ 7.0% cap · market cap 2.26%
Theoretical Best
Specialty Retail
$2.91M
$2.55M – $3.40M
NOI $203,994 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
937
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48081, MI
20,496
Population
9,669
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
95%
High-School Grad
3.9 sq mi
ZIP Area
5,255
Density / Sq Mi
$75,735
Median Household Income
$51,140
Median Earnings
$1,272
Median Rent
$202,400
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.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-tenant medical office building, 15,566 SF, fully occupied.
Where is this medical office space located?
The property is located at 26210 Harper Avenue St Clair Shores, MI.
What is the asking price?
The asking price for this property is $2,375,000.
What are key features of this property?
This property features: 100% occupied medical office building; Two tenant building with 2 units; 15,566 SF building
