Medical Office Building with Updated
For Sale
$750,000
45260 Van Dyke Avenue, Utica, MI 48317
COM/IND/BUS OPP, Utica, MI
Property Size2,860 SF
Lot Size0.25 Acres
Price / SF$262.24
Days on Market50
Property Features for 45260 Van Dyke Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Lot features
Main Street, Office Park
Subdivision
Utica (50033)
Standard status
Active
APN
11-07-34-351-004
Size
2,860 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Annual Amount
8760
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1975
Listing Agency:
Realteam Real Estate
(586) 580-8092
Listed By:
Jacob Riberas · License #6501418227
(248) 709-0424
Added: Aug 17
Changed: Sep 4
Last Checked: Oct 5 at 10:06PM
MLS# 50218846
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,860-square-foot medical office property was built in 1975 and is occupied by an existing eye care practice. The building includes central air conditioning, forced-air heating, public water, and a dedicated parking lot. A prior office remodeling project and cabinet refinishing completed in 2020 contribute to the current office configuration.
Major property improvements include a roof replacement in 2022, parking lot replacement in 2021, and furnace replacement in 2024. The property also received French drain repairs in 2019, replacement of two air conditioning units in 2018, and replacement of another furnace and the water heater in 2017. The site occupies 0.25 acres at 45260 Van Dyke Avenue in Utica, Michigan.
Major property improvements include a roof replacement in 2022, parking lot replacement in 2021, and furnace replacement in 2024. The property also received French drain repairs in 2019, replacement of two air conditioning units in 2018, and replacement of another furnace and the water heater in 2017. The site occupies 0.25 acres at 45260 Van Dyke Avenue in Utica, Michigan.
Key Highlights
- 2,860‑square‑foot medical office building
- Existing eye care practice occupies the property
- Roof replaced in 2022
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.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
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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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Commercial property configured for an existing eye care practice with public water, central air, and forced-air heat.
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; Existing eye care practice occupies the property; Roof replaced in 2022
