Freestanding Medical Office
For Sale
$1,299,900
37244 S Groesbeck, Clinton Township, MI 48036
Versatile three-suite office property with private parking, separate utility metering, and expansion land included.
Property Size6,655 SF
Price / SF$195.33
Days on Market11
Property Features for 37244 S Groesbeck
General Information
Standard status
Active
Size
6,655 SF
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Office Units
3
Amenities
extra large marquis sign
Building Details
Year Built
1972
Buildings
1
Tenancy
Multi
Listing Agency:
Realty Executives Home Towne Shelby
(586) 321-1391
Listed By:
Michael Donelson · License #6501391695
Source:
Sellinghomesinmichigan
Added: Aug 19
Changed: Aug 28
Last Checked: Aug 28 at 10:43AM
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 Realty Executives Home Towne Shelby
Investment Insights
Based on property information with market context.
The Parkway Office Building is a 6,655 SF freestanding office property configured as three separately metered suites. Suite A contains 3,854 SF, Suite B contains 1,054 SF, and Suite C contains 1,768 SF. All three suites were remodeled within the last 2 years. The interior layout can be reconfigured because the walls are non-load-bearing, while 12-foot structural ceilings provide additional volume above the built-in drop ceilings. Air conditioning was replaced in 21'.
Located at 37244 S Groesbeck in Clinton Township, the property records 28,816 vehicles per day on Groesbeck and sits within a mile of McLaren Macomb Hospital. Henry Ford Macomb Hospital and multiple outpatient facilities are also minutes away. A large private parking lot serves the building, and an attached vacant parcel measuring roughly 70 x 207 and 0.33 acre is included for future expansion. The property also features an extra-large marquee sign and a parking lot resealed in 24'.
Located at 37244 S Groesbeck in Clinton Township, the property records 28,816 vehicles per day on Groesbeck and sits within a mile of McLaren Macomb Hospital. Henry Ford Macomb Hospital and multiple outpatient facilities are also minutes away. A large private parking lot serves the building, and an attached vacant parcel measuring roughly 70 x 207 and 0.33 acre is included for future expansion. The property also features an extra-large marquee sign and a parking lot resealed in 24'.
Key Highlights
- 6,655 SF office building with three suites: 3,854 SF, 1,054 SF, and 1,768 SF
- Medical and general office zoning supported by proximity to McLaren Macomb Hospital
- 28,816 vehicles per day on Groesbeck at 37244 S Groesbeck
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
$69,772
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
5.37%
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%
$1,395,440
$1.4M
Cap Rate 7%
$996,743
$996.7K
Cap Rate 9%
$775,244
$775.2K
Market Conditions
NOI Build-Up for 6,655 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
$131.8K $19.80/SF
− Vacancy
−$15.5K −$2.33/SF
EGI
$116.3K $17.47/SF
− OpEx
−$46.5K −$6.99/SF
NOI
$69.8K $10.48/SF
Area
Macomb County, MI
Vacancy
11.75%
Lease Rate
$19.80 /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%
$1,395,440
Cap Rate 7%
$996,743
Cap Rate 9%
$775,244
Alternative Uses
Best Use
Healthcare Medical
$996.7K
$872.2K – $1.16M
NOI $69,772 @ 7.0% cap · market cap 5.37%
Second Best
Office B
$327.3K
$286.4K – $381.8K
NOI $22,910 @ 7.0% cap · market cap 1.76%
Theoretical Best
Specialty Retail
$1.25M
$1.09M – $1.45M
NOI $87,215 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
554
Businesses Nearby
Explore this area
Business Placement
Demographics for 48036, MI
22,517
Population
9,855
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
93%
High-School Grad
8.3 sq mi
ZIP Area
2,713
Density / Sq Mi
$65,109
Median Household Income
$36,730
Median Earnings
$1,018
Median Rent
$201,000
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?
Office building - Versatile three-suite office property with private parking, separate utility metering, and expansion land included.
Where is this office building located?
The property is located at 37244 S Groesbeck Clinton Township, MI.
What is the asking price?
The asking price for this property is $1,299,900.
What are key features of this property?
This property features: 6,655 SF office building with three suites: 3,854 SF, 1,054 SF, and 1,768 SF; Medical and general office zoning supported by proximity to McLaren Macomb Hospital; 28,816 vehicles per day on Groesbeck at 37244 S Groesbeck
