Medical Office Building with 7
New
For Sale
$189,900
35040 Helze Ln, Richmond, MI 48062
Brick professional building with adaptable rooms, accessible entry, private restroom facilities, and on-site parking.
Property Size1,828 SF
Days on Market4
Property Features for 35040 Helze Ln
General Information
Standard status
Active
Size
1,828 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,635
Building Details
Building Size
1,828 SF
Year Built
1967
Buildings
1
Construction
brick
Tenancy
Single
Listed By:
Joshua Wallace · License #6502429264
(810) 488-2490
Source:
Elliman
Added: Sep 10
Last Checked: Sep 13 at 7:45AM
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 Joshua Wallace
Investment Insights
Based on property information with market context.
Built in 1967, this brick medical office property currently serves as a chiropractic office and offers a flexible interior for professional use. The layout includes a foyer, waiting and reception area, seven private rooms, two lavatories, a private full bathroom, and storage areas. The rooms can support office, examination, treatment, or similar functions. A newer flat roof and decking were completed in 2019.
The property is located at 35040 Helze Ln in Richmond Township, Macomb, Michigan, on a lot just under one acre. Access is provided by formal entry stairs and an ADA-accessible ramp, while ample parking supports staff and visitors. The property recorded a Walk Score of 0 and a Bike Score of 36, classified as Car-Dependent and Somewhat Bikeable, respectively.
The property is located at 35040 Helze Ln in Richmond Township, Macomb, Michigan, on a lot just under one acre. Access is provided by formal entry stairs and an ADA-accessible ramp, while ample parking supports staff and visitors. The property recorded a Walk Score of 0 and a Bike Score of 36, classified as Car-Dependent and Somewhat Bikeable, respectively.
Key Highlights
- Seven private rooms within a flexible medical office layout
- All‑brick building constructed in 1967
- Flat roof and decking completed in 2019
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
$6,293
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
3.31%
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%
$125,860
$125.9K
Cap Rate 7%
$89,900
$89.9K
Cap Rate 9%
$69,922
$69.9K
Market Conditions
NOI Build-Up for 1,828 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
$11.0K $6.00/SF
− Vacancy
−$2.6K −$1.41/SF
EGI
$8.4K $4.59/SF
− OpEx
−$2.1K −$1.15/SF
NOI
$6.3K $3.44/SF
Area
Macomb 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%
$125,860
Cap Rate 7%
$89,900
Cap Rate 9%
$69,922
Alternative Uses
Best Use
Healthcare Medical
$273.8K
$239.6K – $319.4K
NOI $19,165 @ 7.0% cap · market cap 10.09%
Second Best
Office B
$89.9K
$78.7K – $104.9K
NOI $6,293 @ 7.0% cap · market cap 3.31%
Theoretical Best
Specialty Retail
$342.2K
$299.5K – $399.3K
NOI $23,956 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48062, MI
9,375
Population
3,631
Households
2.6
Avg Household Size
43
Median Age
25%
College-Educated
86%
High-School Grad
39.5 sq mi
ZIP Area
237
Density / Sq Mi
$75,763
Median Household Income
$39,181
Median Earnings
$882
Median Rent
$249,000
Median Home Value
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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 - Brick professional building with adaptable rooms, accessible entry, private restroom facilities, and on-site parking.
Where is this medical office space located?
The property is located at 35040 Helze Ln Richmond, MI.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Seven private rooms within a flexible medical office layout; All‑brick building constructed in 1967; Flat roof and decking completed in 2019
