Freestanding Hospital
For Sale
Contact for pricing
40696 Garfield Rd, Clinton Township, MI 48038
B-2 zoning and prior veterinary hospital use support a healthcare-oriented property profile.
Property Size3,952 SF
Price / SF$0.00
Days on Market598
Property Features for 40696 Garfield Rd
General Information
Standard status
Active
Size
3,952 SF
Class
C
Property subtype
Healthcare, Office
Zoning
B-2
Building Details
Building Size
3,952 SF
Year Built
1993
Buildings
1
Stories
1
Listing Agency:
Pilot Property Group
Listed By:
Tony Cavataio
(586) 291-6968
Source:
Cpix.resimplifi
Added: Feb 28, 2025
Changed: Oct 12
Last Checked: Oct 19 at 3:16AM
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 Pilot Property Group
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Investment Insights
Based on property information with market context.
This freestanding hospital building contains 3,952 square feet and was constructed in 1993. The property previously operated as a veterinary hospital and carries B-2 zoning.
The building is located at 40696 Garfield Rd in Clinton Township, Michigan, just south of 18 Mile Road. Its standalone configuration and established healthcare-related use provide the defining characteristics of the property.
The building is located at 40696 Garfield Rd in Clinton Township, Michigan, just south of 18 Mile Road. Its standalone configuration and established healthcare-related use provide the defining characteristics of the property.
Key Highlights
- 3,952‑square‑foot freestanding hospital building
- Former veterinary hospital use
- B‑2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,433
Suggested Prices Based on Cap Rates
Cap Rate 5%
$828,660
$828.7K
Cap Rate 7%
$591,900
$591.9K
Cap Rate 9%
$460,367
$460.4K
Market Conditions
NOI Build-Up for 3,952 SF
Gross rent
$78.2K $19.80/SF
− Vacancy
−$9.2K −$2.33/SF
EGI
$69.1K $17.47/SF
− OpEx
−$27.6K −$6.99/SF
NOI
$41.4K $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%
$828,660
Cap Rate 7%
$591,900
Cap Rate 9%
$460,367
Alternative Uses
Best Use
Healthcare Medical
$591.9K
$517.9K – $690.6K
NOI $41,433 @ 7.0% cap · market cap 345,275.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$739.9K
$647.4K – $863.2K
NOI $51,791 @ 7.0% cap · market cap 431,591.67%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
390
Businesses Nearby
Explore this area
Business Placement
Demographics for 48038, MI
44,038
Population
21,395
Households
2.1
Avg Household Size
43
Median Age
29%
College-Educated
94%
High-School Grad
10.9 sq mi
ZIP Area
4,040
Density / Sq Mi
$78,684
Median Household Income
$44,811
Median Earnings
$1,255
Median Rent
$246,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Hospital - B-2 zoning and prior veterinary hospital use support a healthcare-oriented property profile.
Where is this hospital located?
The property is located at 40696 Garfield Rd Clinton Township, MI.
What are key features of this property?
This property features: 3,952‑square‑foot freestanding hospital building; Former veterinary hospital use; B‑2 zoning
