Customizable Office Building
For Sale
Contact for pricing
32100 23 Mile Rd, New Baltimore, MI 48047
Under-construction space supports medical or general office buildouts with flexible unit configuration.
Property Size11,900 SF
Lot Size2.30 Acres
Price / SF$166.11
Days on Market1639
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Property Features for 32100 23 Mile Rd
General Information
Standard status
Active
Size
11,900 SF
Class
C
Total Parking Spaces
50
Lot size
2.30 Acres
Property subtype
Office
Zoning
C-3
Lease Type
NNN
Building Details
Year Built
2026
Buildings
1
Stories
1
Building Size
11,900 SF
Listing Agency:
Realty Executives Home Towne (Shelby)
Listed By:
Frank Locricchio · License #6501314190
(810) 300-1650
Source:
Crexi
Added: Apr 21, 2022
Changed: Oct 3
Last Checked: Oct 14 at 11:28PM
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 Realty Executives Home Towne (Shelby)
Investment Insights
Based on property information with market context.
This office building is being delivered as an under-construction shell, allowing the interior plan to be tailored for medical or traditional office occupancy. The configuration can accommodate 1 to 6 units, providing flexibility for a single user or multiple occupants. Completion is scheduled for summer 2026.
The property encompasses 2.3 acres at 32100 23 Mile Rd in New Baltimore, Michigan. C-3 zoning supports the stated office and medical-office positioning, while the building is offered for sale or lease. Interior customization provides an opportunity to align the finished layout with the operational requirements of the selected occupants.
The property encompasses 2.3 acres at 32100 23 Mile Rd in New Baltimore, Michigan. C-3 zoning supports the stated office and medical-office positioning, while the building is offered for sale or lease. Interior customization provides an opportunity to align the finished layout with the operational requirements of the selected occupants.
Key Highlights
- Under‑construction office shell scheduled for completion in summer 2026
- Interior layout can be customized for medical or office use
- Flexible configuration ranging from 1 to 6 units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$125,600
Cap Rate
6.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,512,000
$2.5M
Cap Rate 7%
$1,794,286
$1.8M
Cap Rate 9%
$1,395,556
$1.4M
Market Conditions
NOI Build-Up for 11,980 SF
Gross rent
$237.2K $19.80/SF
− Vacancy
−$27.9K −$2.33/SF
EGI
$209.3K $17.47/SF
− OpEx
−$83.7K −$6.99/SF
NOI
$125.6K $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 Rate 5%
$2,512,000
Cap Rate 7%
$1,794,286
Cap Rate 9%
$1,395,556
Alternative Uses
Best Use
Healthcare Medical
$1.79M
$1.57M – $2.09M
NOI $125,600 @ 7.0% cap · market cap 6.31%
Second Best
Office B
$589.2K
$515.5K – $687.4K
NOI $41,241 @ 7.0% cap · market cap 2.07%
Theoretical Best
Specialty Retail
$2.24M
$1.96M – $2.62M
NOI $156,999 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
Explore this area
Business Placement
Demographics for 48047, MI
39,775
Population
16,765
Households
2.4
Avg Household Size
42
Median Age
29%
College-Educated
94%
High-School Grad
18.0 sq mi
ZIP Area
2,210
Density / Sq Mi
$95,381
Median Household Income
$50,151
Median Earnings
$1,109
Median Rent
$297,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Under-construction space supports medical or general office buildouts with flexible unit configuration.
Where is this office building located?
The property is located at 32100 23 Mile Rd New Baltimore, MI.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: Under‑construction office shell scheduled for completion in summer 2026; Interior layout can be customized for medical or office use; Flexible configuration ranging from 1 to 6 units
