Built-Out Medical Office
For Sale
Contact for pricing
37380 Glenwood Road, Westland, MI 48186
A furnished clinical layout includes exam rooms and a dedicated restroom for patients.
Property Size2,000 SF
Price / SF$1.75
Days on Market23
Property Features for 37380 Glenwood Road
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Commercial
Space & Availability
Condition
Built-Out
Furnished
Yes
Additional Details
Property Use
Medical Office
Listing Agency:
Keller Williams Legacy
(313) 752-0000
Listed By:
Nick Jaafar · License #403947
(313) 228-3777
Source:
Goodhomemi
Added: Oct 7
Changed: Oct 28
Last Checked: Oct 28 at 3:34PM
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 Keller Williams Legacy
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 2,000-square-foot medical office space is configured with multiple exam rooms, a reception area, vinyl flooring, recessed lighting, and a client restroom. Furniture is included, and the layout reflects its prior use as an urgent care facility.
The property is at 37380 Glenwood Road in Westland, Michigan, next door to a dental practice. Extensive parking serves the space.
The property is at 37380 Glenwood Road in Westland, Michigan, next door to a dental practice. Extensive parking serves the space.
Key Highlights
- 2,000‑square‑foot medical office space
- Multiple exam rooms and a reception area
- Vinyl flooring and recessed lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,885
Suggested Prices Based on Cap Rates
Cap Rate 5%
$137,700
$137.7K
Cap Rate 7%
$98,357
$98.4K
Cap Rate 9%
$76,500
$76.5K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$12.0K $6.00/SF
− Vacancy
−$2.8K −$1.41/SF
EGI
$9.2K $4.59/SF
− OpEx
−$2.3K −$1.15/SF
NOI
$6.9K $3.44/SF
Area
Wayne County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$137,700
Cap Rate 7%
$98,357
Cap Rate 9%
$76,500
Alternative Uses
Best Use
Healthcare Medical
$300.9K
$263.3K – $351.0K
NOI $21,061 @ 7.0% cap · market cap 601.74%
Second Best
Office B
$98.4K
$86.1K – $114.8K
NOI $6,885 @ 7.0% cap · market cap 196.71%
Theoretical Best
Specialty Retail
$370.3K
$324.0K – $432.0K
NOI $25,920 @ 7.0% cap · market cap 740.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48186, MI
35,690
Population
14,543
Households
2.5
Avg Household Size
39
Median Age
19%
College-Educated
88%
High-School Grad
8.3 sq mi
ZIP Area
4,300
Density / Sq Mi
$67,203
Median Household Income
$37,591
Median Earnings
$1,083
Median Rent
$167,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - A furnished clinical layout includes exam rooms and a dedicated restroom for patients.
Where is this medical office space located?
The property is located at 37380 Glenwood Road Westland, MI.
What are key features of this property?
This property features: 2,000‑square‑foot medical office space; Multiple exam rooms and a reception area; Vinyl flooring and recessed lighting
