Animal Hospital Medical
For Sale
Contact for pricing
4137 South US 27, Saint Johns, MI 48879
Leased animal hospital with a major 2022 renovation and reported 8.75% cap rate profile.
Property Size3,000 SF
Price / SF$266.67
Days on Market94
Property Features for 4137 South US 27
General Information
Standard status
Active
Size
3,000 SF
Class
A
Property subtype
Retail, Office
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$70,000
Additional Details
Cap Rate
8.75%
Building Details
Year Built
1974
Year Renovated
2022
Tenancy
Single
Listing Agency:
Matthews
Listed By:
Cameron Davodi · License #CA - 02237200
Source:
Crexi
Added: Jun 4
Changed: Sep 2
Last Checked: Aug 30 at 9:53PM
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 Matthews
Investment Insights
Based on property information with market context.
This property is a specialized medical office configured as an animal hospital. Public remarks indicate the facility underwent $1M+ renovation in 2022, supporting a modernized buildout for veterinary services.
Located at 4137 South US 27 in St Johns, Michigan, the offering is described as the only animal hospital in St Johns. The property is sized at approximately 3,000 square feet.
For buyers seeking a healthcare-oriented, tenant-occupied asset, the combination of veterinary specialization and the stated 2022 renovation may be relevant to an owner-operator or investor evaluating condition and existing functionality. The public remarks also cite an 8.75% cap rate, which should be validated during due diligence. This is a for-sale opportunity built around an established animal hospital use, rather than a generic office layout.
Located at 4137 South US 27 in St Johns, Michigan, the offering is described as the only animal hospital in St Johns. The property is sized at approximately 3,000 square feet.
For buyers seeking a healthcare-oriented, tenant-occupied asset, the combination of veterinary specialization and the stated 2022 renovation may be relevant to an owner-operator or investor evaluating condition and existing functionality. The public remarks also cite an 8.75% cap rate, which should be validated during due diligence. This is a for-sale opportunity built around an established animal hospital use, rather than a generic office layout.
Key Highlights
- Leased animal hospital built in 1974
- Reported 8.75% cap rate profile
- Over $1M renovation completed in 2022
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
$31,795
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
3.97%
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%
$635,900
$635.9K
Cap Rate 7%
$454,214
$454.2K
Cap Rate 9%
$353,278
$353.3K
Market Conditions
NOI Build-Up for 3,000 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
$57.6K $19.20/SF
− Vacancy
−$4.6K −$1.54/SF
EGI
$53.0K $17.66/SF
− OpEx
−$21.2K −$7.07/SF
NOI
$31.8K $10.60/SF
Area
Clinton County, MI
Vacancy
8.00%
Lease Rate
$19.20 /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%
$635,900
Cap Rate 7%
$454,214
Cap Rate 9%
$353,278
Alternative Uses
Best Use
Healthcare Medical
$454.2K
$397.4K – $529.9K
NOI $31,795 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$610.6K
$534.3K – $712.4K
NOI $42,744 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 48879, MI
17,980
Population
7,521
Households
2.4
Avg Household Size
42
Median Age
23%
College-Educated
95%
High-School Grad
191.3 sq mi
ZIP Area
94
Density / Sq Mi
$78,845
Median Household Income
$46,934
Median Earnings
$884
Median Rent
$215,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Leased animal hospital with a major 2022 renovation and reported 8.75% cap rate profile.
Where is this medical center located?
The property is located at 4137 South US 27 Saint Johns, MI.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Leased animal hospital built in 1974; Reported 8.75% cap rate profile; Over $1M renovation completed in 2022
