ADA-Compliant Medical Office
For Sale
$799,900
355 Main Street, Belleville, MI 48111
COMMERCIAL - Belleville, MI
Property Size2,431 SF
Lot Size0.28 Acres
Price / SF$329.04
Days on Market102
Property Features for 355 Main Street
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 1, Bathroom 3, Bathroom 2
Elementary school district
Van Buren
Middle school district
Van Buren
High school district
Van Buren
Directions
BELLEVILLE ROAD BECOMES MAIN STREET. BETWEEN 4TH AND 3RD STREET ON MAIN STREET
Standard status
Active
APN
31-084-03-0124-000
Size
2,431 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
21D124 LOT 124 ASSESSORS BELLEVILLE PLAT NO. 4 T3S R8E L67 P71 WCR
Tax Annual Amount
5362
Legal Description
21D124 LOT 124 ASSESSORS BELLEVILLE PLAT NO. 4 T3S R8E L67 P71 WCR
Utilities
Utilities
Electricity Available
Heating system
Forced Air
Building Details
Year built
1978
Number of units
1
Building materials
Aluminum Siding, Brick
Listing Agency:
Remerica Hometown One
(734) 420-3400
Listed By:
Nazeha Al-Ado
(734) 644-0980
Added: May 25
Changed: Aug 4
Last Checked: Sep 3 at 7:06AM
MLS# 26024612
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This ADA-compliant medical office building includes a spacious reception area, along with multiple exam rooms and private offices that can be customized for office and medical-related uses.
The property is situated in downtown Belleville, with lake views described as nearby and within walking distance. Public remarks also note high foot traffic and drive-by visibility. Parking is available via a private lot in the back and street parking.
The location is described as near various retail and service options, including cafes and pharmacies, as well as Corewell.
The property is situated in downtown Belleville, with lake views described as nearby and within walking distance. Public remarks also note high foot traffic and drive-by visibility. Parking is available via a private lot in the back and street parking.
The location is described as near various retail and service options, including cafes and pharmacies, as well as Corewell.
Key Highlights
- Office space in downtown Belleville, steps from lake views
- ADA‑compliant access and a spacious reception area for client entry
- Multiple exam rooms or private offices that can be customized for medical, wellness, or office use
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
$25,600
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
3.20%
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%
$512,000
$512.0K
Cap Rate 7%
$365,714
$365.7K
Cap Rate 9%
$284,444
$284.4K
Market Conditions
NOI Build-Up for 2,431 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
$48.7K $20.04/SF
− Vacancy
−$6.1K −$2.49/SF
EGI
$42.7K $17.55/SF
− OpEx
−$17.1K −$7.02/SF
NOI
$25.6K $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%
$512,000
Cap Rate 7%
$365,714
Cap Rate 9%
$284,444
Alternative Uses
Best Use
Healthcare Medical
$365.7K
$320.0K – $426.7K
NOI $25,600 @ 7.0% cap · market cap 3.20%
Second Best
Office B
$119.6K
$104.6K – $139.5K
NOI $8,369 @ 7.0% cap · market cap 1.05%
Theoretical Best
Specialty Retail
$450.1K
$393.8K – $525.1K
NOI $31,506 @ 7.0% cap · market cap 3.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
507
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48111, MI
44,055
Population
19,406
Households
2.3
Avg Household Size
40
Median Age
27%
College-Educated
92%
High-School Grad
66.9 sq mi
ZIP Area
659
Density / Sq Mi
$74,125
Median Household Income
$42,194
Median Earnings
$1,162
Median Rent
$239,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office property with ADA-compliant access, a spacious reception, and multiple exam rooms or private office space.
Where is this medical office space located?
The property is located at 355 Main Street Belleville, MI.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Office space in downtown Belleville, steps from lake views; ADA‑compliant access and a spacious reception area for client entry; Multiple exam rooms or private offices that can be customized for medical, wellness, or office use
