Dental and Medical Office
37235 Goddard, Romulus, MI 48192
For Sale
$599,000
Current dental-group occupants are in the second year of a five-year renewal term, with a third renewal term also available.
Property Size2,900 SF
Price / SF$206.55
Days on Market62
Property Features for 37235 Goddard
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Highway Access
Tenant in Place
Property Use
Medical Specialty
Building Details
Year Built
Listing Agency:
My Realty LLC
(248) 419-3999
Listed By:
Joseph Manuel · License MI #6501302689
(248) 207-6307
Source:
Jabachler
Added: Sep 11
Changed: Nov 11
Last Checked: Nov 11 at 2:12AM
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 My Realty LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,900-square-foot medical office property in Romulus is configured for dental and medical use. The building dates to 2000 and is zoned Professional Office and Commercial.
A dental group occupies the property and is in year two of its second five-year renewal term. A third renewal term is also available. The property is near I-94 and I-275.
A dental group occupies the property and is in year two of its second five-year renewal term. A third renewal term is also available. The property is near I-94 and I-275.
Key Highlights
- 2,900‑square‑foot medical office property
- Configured for dental and medical use
- Dental group in year two of its second five‑year renewal term
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,539
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,780
$610.8K
Cap Rate 7%
$436,271
$436.3K
Cap Rate 9%
$339,322
$339.3K
Market Conditions
NOI Build-Up for 2,900 SF
Gross rent
$58.1K $20.04/SF
− Vacancy
−$7.2K −$2.49/SF
EGI
$50.9K $17.55/SF
− OpEx
−$20.4K −$7.02/SF
NOI
$30.5K $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 Rate 5%
$610,780
Cap Rate 7%
$436,271
Cap Rate 9%
$339,322
Alternative Uses
Best Use
Healthcare Medical
$436.3K
$381.7K – $509.0K
NOI $30,539 @ 7.0% cap · market cap 5.10%
Second Best
Office B
$142.6K
$124.8K – $166.4K
NOI $9,983 @ 7.0% cap · market cap 1.67%
Theoretical Best
Specialty Retail
$536.9K
$469.8K – $626.4K
NOI $37,584 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
181
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48192, MI
25,058
Population
11,441
Households
2.2
Avg Household Size
42
Median Age
21%
College-Educated
91%
High-School Grad
5.3 sq mi
ZIP Area
4,728
Density / Sq Mi
$67,846
Median Household Income
$42,999
Median Earnings
$995
Median Rent
$159,700
Median Home Value
Market
Average Price Trend$/SF for Medical Office Space in Wayne County, MI
Properties on Market for Medical Office Space in Wayne County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Current dental-group occupants are in the second year of a five-year renewal term, with a third renewal term also available.
Where is this medical office space located?
The property is located at 37235 Goddard Romulus, MI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,900‑square‑foot medical office property; Configured for dental and medical use; Dental group in year two of its second five‑year renewal term
