Sterling Heights Medical Office
43205 Schoenherr Rd, Sterling Heights, MI 48313
For Sale
$600,000
2,500 SF medical office with national tenant for sale.
Property Size2,694 SF
Lot Size0.27 Acres
Price / SF$240
Days on Market245
Property Features for 43205 Schoenherr Rd
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Max Broock, REALTORS-Troy
Listed By:
Jessica Gaul · License #Mi 6501416206
(248) 214-3727
Source:
Elliman
Added: Mar 10
Changed: Aug 14
Last Checked: Aug 14 at 6:03AM
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 Max Broock, REALTORS-Troy
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Investment Insights
Based on property information with market context.
This 2,500 square foot dental medical office asset is located in Sterling Heights. The property features a strong national tenant on a net lease. The current rent is just over fifty two thousand per year, with two percent annual increases. The lease term is in place through May 2028. The property is highly visible along the Schoenherr Road corridor and provides quick access to Hall Road M 59 and the city’s Golden Corridor retail and medical hub. It features a clean, professional build out and on-site surface parking. This is a simple, low-management income stream in a high-demand suburb. It is an ideal fit for 1031 buyers and investors seeking stable cash flow.
Key Highlights
- Strong national tenant on a net lease provides stable cash flow.
- Current rent is just over $52,000 per year with 2% annual increases.
- Term in place through May 2028.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,464
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$629,280
$629.3K
Cap Rate 7%
$449,486
$449.5K
Cap Rate 9%
$349,600
$349.6K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$57.0K $22.80/SF
− Vacancy
−$4.6K −$1.82/SF
EGI
$52.4K $20.98/SF
− OpEx
−$21.0K −$8.39/SF
NOI
$31.5K $12.59/SF
Area
Sterling Heights, MI
Vacancy
8.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$629,280
Cap Rate 7%
$449,486
Cap Rate 9%
$349,600
Alternative Uses
Best Use
Healthcare Medical
$449.5K
$393.3K – $524.4K
NOI $31,464 @ 7.0% cap · market cap 5.24%
Second Best
Office B
$412.5K
$360.9K – $481.3K
NOI $28,875 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$551.5K
$482.6K – $643.4K
NOI $38,606 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
527
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 48313, MI
34,169
Population
14,288
Households
2.4
Avg Household Size
43
Median Age
32%
College-Educated
92%
High-School Grad
8.7 sq mi
ZIP Area
3,927
Density / Sq Mi
$87,292
Median Household Income
$47,668
Median Earnings
$1,152
Median Rent
$248,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Medical Office Space in Macomb County, MI
Properties on Market for Medical Office Space in Macomb County
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Dalcoma Specialty Pharmacy & Compounding Services — 43337 Schoenherr Rd, Sterling Heights, MI 48313
Frequently Asked Questions
What type of property is this?
Medical Office Space - 2,500 SF medical office with national tenant for sale.
Where is this medical office space located?
The property is located at 43205 Schoenherr Rd Sterling Heights, MI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Strong national tenant on a net lease provides stable cash flow.; Current rent is just over $52,000 per year with 2% annual increases.; Term in place through May 2028.
