Former Dental Office
For Sale
Contact for pricing
Pending
27445 SOUTHFIELD RD, Lathrup Village, MI 48076
Former dental office with rear parking and monument signage along a high-visibility Southfield Road corridor.
Property Size1,552 SF
Days on Market101
Property Features for 27445 SOUTHFIELD RD
General Information
Standard status
Pending
Size
1,552 SF
Class
B
Property subtype
Office
Zoning
Village Center
Additional Details
Highway Access
Yes
Building Details
Year Built
1981
Year Renovated
2012
Stories
1
Units
8
Listing Agency:
Mirlo Real Estate Partners
Listed By:
Nick Zagar · License #6502374102
(917) 557-9172
Source:
Crexi
Added: Jun 2
Changed: Aug 12
Last Checked: Sep 10 at 6:34AM
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 dental building offers approximately 1,520 square feet of space configured for healthcare or related professional uses. The property has a history of dental and healthcare occupancy spanning decades and is being offered for sale in its current condition. A monument sign on Southfield Road supports identity and street-level recognition.
The building is located in Lathrup Village along Southfield Road between W 11 Mile Rd and W 12 Mile Rd. Highway access is described as easy via I-696, and the listing notes a drive time of about 20 minutes to Downtown Detroit. The site includes dedicated rear parking for convenient on-site access.
For an owner-operator or investor, the layout and established healthcare history may fit a dental specialist or healthcare provider seeking a visible presence on a well-established commercial corridor. The combination of Southfield Road frontage, monument signage, and dedicated rear parking can support day-to-day patient or client access, while the offering price is described as reflecting the property’s current condition.
The building is located in Lathrup Village along Southfield Road between W 11 Mile Rd and W 12 Mile Rd. Highway access is described as easy via I-696, and the listing notes a drive time of about 20 minutes to Downtown Detroit. The site includes dedicated rear parking for convenient on-site access.
For an owner-operator or investor, the layout and established healthcare history may fit a dental specialist or healthcare provider seeking a visible presence on a well-established commercial corridor. The combination of Southfield Road frontage, monument signage, and dedicated rear parking can support day-to-day patient or client access, while the offering price is described as reflecting the property’s current condition.
Key Highlights
- 1,520 SF former dental building built in 1981
- Located on Southfield Road in Lathrup Village frontage, between W 11 Mile Rd and W 12 Mile Rd
- Monument sign on Southfield Road for on‑corridor visibility
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
$21,002
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
7.93%
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%
$420,040
$420.0K
Cap Rate 7%
$300,029
$300.0K
Cap Rate 9%
$233,356
$233.4K
Market Conditions
NOI Build-Up for 1,552 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
$39.1K $25.20/SF
− Vacancy
−$4.1K −$2.65/SF
EGI
$35.0K $22.55/SF
− OpEx
−$14.0K −$9.02/SF
NOI
$21.0K $13.53/SF
Area
Oakland County, MI
Vacancy
10.50%
Lease Rate
$25.20 /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%
$420,040
Cap Rate 7%
$300,029
Cap Rate 9%
$233,356
Alternative Uses
Best Use
Healthcare Medical
$300.0K
$262.5K – $350.0K
NOI $21,002 @ 7.0% cap · market cap 7.93%
Second Best
Office B
$76.3K
$66.8K – $89.1K
NOI $5,343 @ 7.0% cap · market cap 2.02%
Theoretical Best
Specialty Retail
$334.8K
$292.9K – $390.6K
NOI $23,433 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
465
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48076, MI
26,062
Population
11,016
Households
2.4
Avg Household Size
44
Median Age
44%
College-Educated
94%
High-School Grad
7.1 sq mi
ZIP Area
3,671
Density / Sq Mi
$85,171
Median Household Income
$50,210
Median Earnings
$1,451
Median Rent
$251,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Medical Office Space - Former dental office with rear parking and monument signage along a high-visibility Southfield Road corridor.
Where is this medical office space located?
The property is located at 27445 SOUTHFIELD RD Lathrup Village, MI.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 1,520 SF former dental building built in 1981; Located on Southfield Road in Lathrup Village frontage, between W 11 Mile Rd and W 12 Mile Rd; Monument sign on Southfield Road for on‑corridor visibility
