Freestanding Office
For Sale
$1,299,900
37244 S Groesbeck Highway, Clinton Township, MI 48036
COM/IND/BUS OPP, Clinton Township, MI
Property Size6,655 SF
Lot Size1.10 Acres
Price / SF$195.33
Days on Market121
Property Features for 37244 S Groesbeck Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Professional Office
Subdivision
Clinton Twp (50011)
Standard status
Active
APN
1915-37244-00-1
Size
6,655 SF
Lot size
1.10 Acres
Taxes and HOA fees
Tax Annual Amount
27298
Utilities
Water source
Public
Amenities
Extra large marquis sign
Building Details
Year built
1972
Roof type
Shingle
Listing Agency:
Realty Executives Home Towne Shelby · Realty Executives International
(586) 726-4600
Listed By:
Michael Donelson · License #6501391695
(586) 321-1391
Added: May 7
Changed: Aug 19
Last Checked: Sep 4 at 9:06AM
MLS# 50206738
Copyright © 2026 Multiple Listing Service MiRealSource. 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.
The Parkway Office Building is a standalone, three-suite office property totaling 6,655 square feet. Suite A contains 3,854 SF, Suite B measures 1,054 SF and is occupied by Edward Jones, and Suite C provides 1,768 SF. All three suites were remodeled within the last 2 years. The layout includes 12 ft structural ceilings, built-in drop ceilings, and movable interior walls without load-bearing partitions. Each suite is separately metered for gas and electric. A shingle roof, public water, private parking lot, and extra-large marquee sign are included.
The property is located at 37244 S Groesbeck Highway in Clinton Township, with reported traffic of 28,816 vehicles per day. The site is within a mile of McLaren Macomb Hospital and minutes from Henry Ford Macomb Hospital and other outpatient facilities. The sale also includes an attached vacant lot measuring approximately 0.33 acre, providing additional land within the property configuration.
The property is located at 37244 S Groesbeck Highway in Clinton Township, with reported traffic of 28,816 vehicles per day. The site is within a mile of McLaren Macomb Hospital and minutes from Henry Ford Macomb Hospital and other outpatient facilities. The sale also includes an attached vacant lot measuring approximately 0.33 acre, providing additional land within the property configuration.
Key Highlights
- 6,655 SF office building with three suites
- Suite mix includes 3,854 SF, 1,054 SF, and 1,768 SF
- Medical and general office zoning supported by nearby hospital and outpatient facilities
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
28,816 VPD
Traffic count
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
260
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 - Three flexible suites support medical and general office use with private parking and expansion land included.
Where is this office building located?
The property is located at 37244 S Groesbeck Highway 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; Suite mix includes 3,854 SF, 1,054 SF, and 1,768 SF; Medical and general office zoning supported by nearby hospital and outpatient facilities
