Medical Office with Exam
New
For Sale
$360,000
33433 6 Mile Rd, Livonia, MI 48152
A single-story layout combines a reception area, private offices, and dedicated exam rooms.
Property Size2,000 SF
Lot Size0.36 Acres
Price / SF$179.64
Days on Market2
Property Features for 33433 6 Mile Rd
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
15
Lot size
0.36 Acres
Property subtype
Commercial
Zoning
C-1
Additional Details
Asking Price
$360,000
Office Units
1
Taxes and HOA fees
Annual Taxes
$6,101
Building Details
Building Size
2,000 SF
Year Built
1964
Year Renovated
2022
Buildings
1
Stories
1
Construction
solid masonry
Tenancy
Single
Listing Agency:
Keller Williams Paint Creek
Listed By:
Brock Bean
(586) 876-1140
Source:
Elliman
Added: Oct 1
Last Checked: Oct 1 at 2:38PM
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 Keller Williams Paint Creek
Investment Insights
Based on property information with market context.
At 33433 Six Mile Rd, this freestanding medical office offers 2,004 square feet in a single-story masonry building. The interior includes a reception area, partitioned offices, and multiple exam rooms. Built in 1964, the property was renovated in 2022 and occupies a 0.36-acre lot. C-1 zoning and 15 surface parking spaces are also part of the property.
Key Highlights
- 2,004‑square‑foot medical office on a 0.36‑acre lot
- Multiple exam rooms, partitioned offices, and a reception area
- Masonry construction; built in 1964 and renovated in 2022
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
$21,103
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
5.86%
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%
$422,060
$422.1K
Cap Rate 7%
$301,471
$301.5K
Cap Rate 9%
$234,478
$234.5K
Market Conditions
NOI Build-Up for 2,004 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
$40.2K $20.04/SF
− Vacancy
−$5.0K −$2.49/SF
EGI
$35.2K $17.55/SF
− OpEx
−$14.1K −$7.02/SF
NOI
$21.1K $10.53/SF
Area
Wayne County, MI
Vacancy
12.42%
Lease Rate
$20.04 /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%
$422,060
Cap Rate 7%
$301,471
Cap Rate 9%
$234,478
Alternative Uses
Best Use
Healthcare Medical
$301.5K
$263.8K – $351.7K
NOI $21,103 @ 7.0% cap · market cap 5.86%
Second Best
Office B
$98.6K
$86.2K – $115.0K
NOI $6,899 @ 7.0% cap · market cap 1.92%
Theoretical Best
Specialty Retail
$371.0K
$324.7K – $432.9K
NOI $25,972 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48152, MI
31,098
Population
12,922
Households
2.4
Avg Household Size
47
Median Age
41%
College-Educated
95%
High-School Grad
12.0 sq mi
ZIP Area
2,592
Density / Sq Mi
$89,019
Median Household Income
$50,614
Median Earnings
$1,293
Median Rent
$284,300
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - A single-story layout combines a reception area, private offices, and dedicated exam rooms.
Where is this medical office space located?
The property is located at 33433 6 Mile Rd Livonia, MI.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 2,004‑square‑foot medical office on a 0.36‑acre lot; Multiple exam rooms, partitioned offices, and a reception area; Masonry construction; built in 1964 and renovated in 2022
