Medical Condo
For Sale
$161,100
32905 W 12 Mile Rd, Farmington Hills, MI 48334
Expansive medical condo with professional property management and immediate availability, with quick access to I-696 and I-275.
Property Size1,611 SF
Price / SF$100
Days on Market48
Property Features for 32905 W 12 Mile Rd
General Information
Standard status
Active
Size
1,611 SF
Property subtype
Office
Zoning
OS-4
Additional Details
Highway Access
Yes
Building Details
Building Size
1,611 SF
Listing Agency:
L. Mason Capitani, Inc.
(248) 637-3515
Listed By:
Aaron R. Smith · License #6501377543
(248) 637-3515
Source:
Cpix.resimplifi
Added: Jul 8
Changed: Aug 16
Last Checked: Aug 24 at 3:12AM
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, Inc.
Investment Insights
Based on property information with market context.
This 1,611-square-foot medical condo unit is offered for sale and is positioned within a professional property setting with an on-site property management team. The space is described as expansive and is available immediately for qualified purchasers.
The property is located at 32905 W 12 Mile Rd in Farmington Hills, providing quick access to I-696 and I-275. It is also situated near major healthcare facilities including Providence Hospital, Beaumont Hospital, and Henry Ford West.
The unit’s medical-focused condo configuration makes it a practical option for owner-occupiers or buyers seeking an office setup already aligned with healthcare use.
The property is located at 32905 W 12 Mile Rd in Farmington Hills, providing quick access to I-696 and I-275. It is also situated near major healthcare facilities including Providence Hospital, Beaumont Hospital, and Henry Ford West.
The unit’s medical-focused condo configuration makes it a practical option for owner-occupiers or buyers seeking an office setup already aligned with healthcare use.
Key Highlights
- Medical condo unit with expansive space
- Professional property management team
- Quick access to I‑696 & I‑275
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
$5,546
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
3.44%
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%
$110,920
$110.9K
Cap Rate 7%
$79,229
$79.2K
Cap Rate 9%
$61,622
$61.6K
Market Conditions
NOI Build-Up for 1,611 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
$9.7K $6.00/SF
− Vacancy
−$2.3K −$1.41/SF
EGI
$7.4K $4.59/SF
− OpEx
−$1.8K −$1.15/SF
NOI
$5.5K $3.44/SF
Area
Oakland County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
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%
$110,920
Cap Rate 7%
$79,229
Cap Rate 9%
$61,622
Alternative Uses
Best Use
Healthcare Medical
$311.4K
$272.5K – $363.4K
NOI $21,801 @ 7.0% cap · market cap 13.53%
Second Best
Office B
$79.2K
$69.3K – $92.4K
NOI $5,546 @ 7.0% cap · market cap 3.44%
Theoretical Best
Specialty Retail
$347.5K
$304.1K – $405.4K
NOI $24,324 @ 7.0% cap · market cap 15.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48334, MI
18,731
Population
8,528
Households
2.2
Avg Household Size
45
Median Age
59%
College-Educated
96%
High-School Grad
9.1 sq mi
ZIP Area
2,058
Density / Sq Mi
$98,937
Median Household Income
$56,067
Median Earnings
$1,511
Median Rent
$327,200
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
- Crossroads Veterinary Hospice — 33228 W 12 Mile Rd, Farmington Hills, MI 48334
Frequently Asked Questions
What type of property is this?
Medical Office Space - Expansive medical condo with professional property management and immediate availability, with quick access to I-696 and I-275.
Where is this medical office space located?
The property is located at 32905 W 12 Mile Rd Farmington Hills, MI.
What is the asking price?
The asking price for this property is $161,100.
What are key features of this property?
This property features: Medical condo unit with expansive space; Professional property management team; Quick access to I‑696 & I‑275
