Medical Office with Updated
45260 Van Dyke Avenue, Utica, MI 48317
For Sale
$750,000
An operating eye care practice occupies the building, with major building systems and site improvements completed in recent years.
Property Size2,860 SF
Price / SF$262.24
Days on Market83
Property Features for 45260 Van Dyke Avenue
General Information
Standard status
Size
Property subtype
Additional Details
Business Included
Currently Operating
Property Use
Medical Specialty
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Realteam Real Estate
(586) 580-8092
Listed By:
Jacob Riberas · License #6501418227
(248) 709-0424
Source:
Housewant
Added: Aug 17
Changed: Oct 28
Last Checked: Nov 6 at 3:24AM
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 Realteam Real Estate
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Investment Insights
Based on property information with market context.
This 2,860-square-foot medical office building in Utica is occupied by an eye care practice. Built in 1975, the property has received several improvements: the roof was replaced in 2022, the parking lot in 2021, and a furnace in 2024. Other work includes cabinet refinishing in 2020, French drain repairs in 2019, and replacement of two air conditioning units in 2018. A furnace and water heater were replaced in 2017, and the office was remodeled previously.
The property is located at 45260 Van Dyke Avenue, with access to surrounding residential and commercial areas. The real estate is offered separately from the operating business; inquiries about the business may be directed to the listing agent.
The property is located at 45260 Van Dyke Avenue, with access to surrounding residential and commercial areas. The real estate is offered separately from the operating business; inquiries about the business may be directed to the listing agent.
Key Highlights
- 2,860‑square‑foot medical office building
- Eye care practice currently occupies the property
- Roof replacement completed in 2022; parking lot replaced in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,985
Cap Rate
4.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$599,700
$599.7K
Cap Rate 7%
$428,357
$428.4K
Cap Rate 9%
$333,167
$333.2K
Market Conditions
NOI Build-Up for 2,860 SF
Gross rent
$56.6K $19.80/SF
− Vacancy
−$6.7K −$2.33/SF
EGI
$50.0K $17.47/SF
− OpEx
−$20.0K −$6.99/SF
NOI
$30.0K $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%
$599,700
Cap Rate 7%
$428,357
Cap Rate 9%
$333,167
Alternative Uses
Best Use
Healthcare Medical
$428.4K
$374.8K – $499.8K
NOI $29,985 @ 7.0% cap · market cap 4.00%
Second Best
Office B
$140.7K
$123.1K – $164.1K
NOI $9,846 @ 7.0% cap · market cap 1.31%
Theoretical Best
Specialty Retail
$535.4K
$468.5K – $624.7K
NOI $37,481 @ 7.0% cap · market cap 5.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
862
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48317, MI
27,864
Population
12,936
Households
2.2
Avg Household Size
39
Median Age
32%
College-Educated
90%
High-School Grad
12.0 sq mi
ZIP Area
2,322
Density / Sq Mi
$72,465
Median Household Income
$41,895
Median Earnings
$1,227
Median Rent
$248,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - An operating eye care practice occupies the building, with major building systems and site improvements completed in recent years.
Where is this medical office space located?
The property is located at 45260 Van Dyke Avenue Utica, MI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,860‑square‑foot medical office building; Eye care practice currently occupies the property; Roof replacement completed in 2022; parking lot replaced in 2021
