Freestanding Office
37244 S Groesbeck Highway, Clinton Township, MI 48036
For Sale
$1,199,900
Office zoning supports medical and general office uses, with a separate vacant parcel included in the sale.
Property Size6,655 SF
Price / SF$180.30
Days on Market185
Property Features for 37244 S Groesbeck Highway
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Condition
Utilities to Site
Office Units
Tenant in Place
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
extra large marquis sign
separately metered gas and electric
Building Details
Building Size
Year Built
Buildings
Tenancy
Listing Agency:
Realty Executives Home Towne Shelby
(586) 726-4600
Listed By:
Michael Donelson · License #6501391695
(586) 321-1391
Source:
Carterassociatesrealty
Added: May 7
Changed: Nov 4
Last Checked: Nov 6 at 4:49AM
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
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Investment Insights
Based on property information with market context.
The 6,655-square-foot office building contains three suites: Suite A at 3,854 SF, Suite B at 1,054 SF, and Suite C at 1,768 SF. Edward Jones occupies Suite B. Interior partitions are non-load-bearing, allowing the floor plan to be reconfigured, and structural ceilings measure 12 feet beneath built-in drop ceilings. Each suite has separate gas and electric meters. All three suites were remodeled within the last 2 years; the parking lot was resealed in 24' and the AC replaced in 21'. A freestanding marquee sign and a large private parking lot are also included.
Office zoning permits medical and general office use. The property fronts Groesbeck Highway, where the stated traffic count is 28,816 per day. McLaren Macomb Hospital is within a mile, and Henry Ford Macomb Hospital and several outpatient facilities are minutes away.
The sale also includes an attached vacant lot measuring approximately 70 x 207 feet, or 0.33 acre. The owner is willing to lease back Suite A or Suite C under a multi-year lease.
Office zoning permits medical and general office use. The property fronts Groesbeck Highway, where the stated traffic count is 28,816 per day. McLaren Macomb Hospital is within a mile, and Henry Ford Macomb Hospital and several outpatient facilities are minutes away.
The sale also includes an attached vacant lot measuring approximately 70 x 207 feet, or 0.33 acre. The owner is willing to lease back Suite A or Suite C under a multi-year lease.
Key Highlights
- 6,655 SF office building with three suites: 3,854 SF, 1,054 SF, and 1,768 SF
- Edward Jones occupies the 1,054 SF Suite B
- Office zoning allows medical and general office use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,772
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
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
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 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 5.81%
Second Best
Office B
$327.3K
$286.4K – $381.8K
NOI $22,910 @ 7.0% cap · market cap 1.91%
Theoretical Best
Specialty Retail
$1.25M
$1.09M – $1.45M
NOI $87,215 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
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
$201,000
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Macomb County, MI
Properties on Market for Office buildings in Macomb County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Office zoning supports medical and general office uses, with a separate vacant parcel included in the sale.
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 $1,199,900.
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; Edward Jones occupies the 1,054 SF Suite B; Office zoning allows medical and general office use
