Medical Office
New
For Sale
$1,950,000
3701 E 13 Mile Rd, Warren, MI 48092
C-1 zoning accommodates office or medical use in Warren.
Property Size8,159 SF
Price / SF$238
Days on Market2
Property Features for 3701 E 13 Mile Rd
General Information
Standard status
Active
Size
8,159 SF
Class
B
Property subtype
Office
Zoning
C-1
Building Details
Building Size
8,159 SF
Year Built
1988
Buildings
1
Listing Agency:
NAI Farbman - Corporate
Listed By:
Kristi Lawton · License #6501371260
(248) 798-9828
Source:
Naiglobal
Added: Sep 24
Last Checked: Sep 24 at 3:15PM
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 NAI Farbman - Corporate
Investment Insights
Based on property information with market context.
This medical office property contains 8,159 square feet and was built in 1988. Its C-1 zoning is designated for office or medical use.
The building is located at 3701 E 13 Mile Rd in Warren, Michigan.
The building is located at 3701 E 13 Mile Rd in Warren, Michigan.
Key Highlights
- 8,159 SF medical office building
- Built in 1988
- C‑1 zoning
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
$88,352
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
4.53%
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%
$1,767,040
$1.8M
Cap Rate 7%
$1,262,171
$1.3M
Cap Rate 9%
$981,689
$981.7K
Market Conditions
NOI Build-Up for 8,159 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
$156.7K $19.20/SF
− Vacancy
−$9.4K −$1.15/SF
EGI
$147.3K $18.05/SF
− OpEx
−$58.9K −$7.22/SF
NOI
$88.4K $10.83/SF
Area
Warren, MI
Vacancy
6.00%
Lease Rate
$19.20 /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%
$1,767,040
Cap Rate 7%
$1,262,171
Cap Rate 9%
$981,689
Alternative Uses
Best Use
Healthcare Medical
$1.26M
$1.10M – $1.47M
NOI $88,352 @ 7.0% cap · market cap 4.53%
Second Best
Office B
$1.25M
$1.10M – $1.46M
NOI $87,782 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,993 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
559
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48092, MI
27,186
Population
11,052
Households
2.5
Avg Household Size
42
Median Age
27%
College-Educated
86%
High-School Grad
8.1 sq mi
ZIP Area
3,356
Density / Sq Mi
$71,761
Median Household Income
$40,174
Median Earnings
$1,186
Median Rent
$205,300
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 - C-1 zoning accommodates office or medical use in Warren.
Where is this medical office space located?
The property is located at 3701 E 13 Mile Rd Warren, MI.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 8,159 SF medical office building; Built in 1988; C‑1 zoning
