Former Healthcare Office
27435 SOUTHFIELD RD Lathrup Village, MI 48076
For Sale
Contact for pricing
Former healthcare space with two-floor layout, rear parking, and Southfield Road monument signage for medical or professional use.
Property Size2,314 SF
Price / SF$164.22
Days on Market56
Property Features for 27435 SOUTHFIELD RD
General Information
- Standard status
- Active
- Size
- 2,314 SF
- Property subtype
- Retail, Office
Building Details
- Year Built
- 1991
Listing Agency:
Mirlo Real Estate Partners
(917) 557-9172
Listed By:
Nick Zagar · License #6502374102
Source:
Crexi
Added: Jun 2
Changed: Jul 10
Last Checked: Jul 26 at 10:08AM
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 Mirlo Real Estate Partners
Investment Insights
Based on property information with market context.
This former healthcare practice offers 2,314 square feet in a two-story configuration, with approximately 1,600 square feet on the main floor and the remainder on the second floor. The property is set up for medical, dental specialist, or professional office use, and includes dedicated rear parking. A key operational detail is that there is no elevator access to the second floor, making the upper level better suited for office, administrative functions, records, supplies, or storage.
The building is located along the Southfield Road corridor, which provides strong visibility and drive-by exposure. It also features a prominent monument sign on Southfield Road. The rear lot includes 10 parking spaces, supporting patient, client, and staff access.
For an owner-user, this property provides an existing medical/office environment with practical on-site parking and existing signage visibility. It also offers flexible reuse for administrative and support space on the second floor, while the main level can serve primary day-to-day operations. Recent upgrades include new plumbing installed in 2025, which may reduce near-term capital considerations for a future owner.
The building is located along the Southfield Road corridor, which provides strong visibility and drive-by exposure. It also features a prominent monument sign on Southfield Road. The rear lot includes 10 parking spaces, supporting patient, client, and staff access.
For an owner-user, this property provides an existing medical/office environment with practical on-site parking and existing signage visibility. It also offers flexible reuse for administrative and support space on the second floor, while the main level can serve primary day-to-day operations. Recent upgrades include new plumbing installed in 2025, which may reduce near-term capital considerations for a future owner.
Key Highlights
- 2,314 SF former healthcare practice built in 1991 with space on a main floor and a second floor
- Main floor offers approximately 1,600 SF, with the remaining square footage on the second floor
- No elevator access to the second floor; upper level works for office, administrative functions, records, supplies, or storage
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 | $58.3k | $25.20 |
| − Vacancy | −$6.1k | −$2.65 |
| EGI | $52.2k | $22.55 |
| − OpEx | −$20.9k | −$9.02 |
| NOI | $31.3k | $13.53 |
2,314 SF · lease $25.20/SF/yr · vacancy 10.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$447.3K
$391.4K – $521.9K
NOI $31,314 @ 7.0% cap · market cap 8.24%
Second Best
Office B
$113.8K
$99.6K – $132.8K
NOI $7,966 @ 7.0% cap · market cap 2.10%
Theoretical Best
Specialty Retail
$499.1K
$436.7K – $582.3K
NOI $34,938 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Medical Office Space
FAQs
What type of property is this?
Medical Office Space - Former healthcare space with two-floor layout, rear parking, and Southfield Road monument signage for medical or professional use.
Where is this medical office space located?
The property is located at 27435 SOUTHFIELD RD Lathrup Village, MI.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: 2,314 SF former healthcare practice built in 1991 with space on a main floor and a second floor; Main floor offers approximately 1,600 SF, with the remaining square footage on the second floor; No elevator access to the second floor; upper level works for office, administrative functions, records, supplies, or storage
