Medical Office Center For
For Sale
Contact for pricing
29703-29753 Hoover Rd, Warren, MI 48093
Two-building medical office center with strong visibility and ample parking.
Property Size17,881 SF
Price / SF$159.39
Days on Market189
Property Features for 29703-29753 Hoover Rd
General Information
Standard status
Active
Size
17,881 SF
Class
C
Total Parking Spaces
144
Property subtype
Office
Zoning
C2
Lease Type
NNN
Building Details
Year Built
1998
Buildings
2
Tenancy
Multi
Listing Agency:
L. Mason Capitani
(248) 637-9700
Listed By:
Robert Gojcaj · License #MI 6501377415
Source:
Crexi
Added: Feb 12
Changed: Aug 9
Last Checked: Aug 19 at 8:45AM
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 L. Mason Capitani
Investment Insights
Based on property information with market context.
This is a professional two-building medical office center, presenting an exceptional opportunity for an owner/user or investor. The property features prominent signage and strong visibility on Hoover Road, along with ample on-site parking. A 3,724 square foot turn-key dental suite and a 3,543 square foot medical suite are available. The location is convenient to nearby area hospitals and medical facilities and in close proximity to I-696. The property size is 17,881 square feet.
Key Highlights
- Exceptional owner/user or investment opportunity
- Turn‑key 3,724 SF dental suite available
- 3,543 SF medical suite available
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
$193,630
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
6.79%
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%
$3,872,600
$3.9M
Cap Rate 7%
$2,766,143
$2.8M
Cap Rate 9%
$2,151,444
$2.2M
Market Conditions
NOI Build-Up for 17,881 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
$343.3K $19.20/SF
− Vacancy
−$20.6K −$1.15/SF
EGI
$322.7K $18.05/SF
− OpEx
−$129.1K −$7.22/SF
NOI
$193.6K $10.83/SF
Area
Warren, MI
Vacancy
6.00%
Lease Rate
$19.20 /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%
$3,872,600
Cap Rate 7%
$2,766,143
Cap Rate 9%
$2,151,444
Alternative Uses
Best Use
Healthcare Medical
$2.77M
$2.42M – $3.23M
NOI $193,630 @ 7.0% cap · market cap 6.79%
Second Best
Office B
$2.75M
$2.40M – $3.21M
NOI $192,381 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$3.94M
$3.45M – $4.60M
NOI $276,123 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,015
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48093, MI
24,780
Population
10,480
Households
2.4
Avg Household Size
43
Median Age
26%
College-Educated
91%
High-School Grad
5.9 sq mi
ZIP Area
4,200
Density / Sq Mi
$66,420
Median Household Income
$42,685
Median Earnings
$1,123
Median Rent
$197,100
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.
Similar Off Market Nearby
- HOOVER ROAD ANIMAL HOSPITAL — 31170 Hoover Rd, Warren, MI 48093
- Warren Veterinary Clinic — 31170 hoover rd, warren, mi 48093
- Warren Animal Clinic — 30918 van dyke ave, warren, mi 48093
- Hoover Road Animal Hospital: Darji P DVM — 31170 Hoover Rd, Warren, MI 48093
- Hoover Road Animal Hospital: Sekhon Paul DVM — 31170 Hoover Rd, Warren, MI 48093
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-building medical office center with strong visibility and ample parking.
Where is this medical office space located?
The property is located at 29703-29753 Hoover Rd Warren, MI.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Exceptional owner/user or investment opportunity; Turn‑key **3,724 SF dental suite available**; 3,543 SF medical suite available
