Office Building with Medical
For Sale
$1,099,000
48701 Van Dyke, Shelby Township, MI 48317
C-1-zoned office property leased to office and medical professionals with recent site and building improvements.
Property Size6,514 SF
Price / SF$168.71
Days on Market449
Property Features for 48701 Van Dyke
General Information
Standard status
Active
Size
6,514 SF
Class
C
Property subtype
Office
Zoning
C-1
Additional Details
Highway Access
Yes
Building Details
Building Size
6,514 SF
Year Built
1978
Year Renovated
2022
Buildings
1
Stories
1
Listing Agency:
Pilot Property Group
(586) 291-6968
Listed By:
Tony Cavataio
(586) 291-6968
Source:
Cpix.resimplifi
Added: Jun 10, 2025
Changed: Aug 29
Last Checked: Aug 29 at 3:06PM
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
Investment Insights
Based on property information with market context.
This office property contains 6,514 square feet and was built in 1978. The building is leased to office and medical professionals and has benefited from recent capital improvements, including a new parking lot, refreshed monument signage, and attention to the roof and mechanical systems. C-1 zoning supports its established office-oriented profile.
The property is located at 48701 Van Dyke in Shelby Township, with access to major roads and highways. Updated monument signage provides a dedicated feature for tenant identification, while the parking improvements support day-to-day office and medical occupancy. An additional residential lot behind the property is also available separately.
The property is located at 48701 Van Dyke in Shelby Township, with access to major roads and highways. Updated monument signage provides a dedicated feature for tenant identification, while the parking improvements support day-to-day office and medical occupancy. An additional residential lot behind the property is also available separately.
Key Highlights
- 6,514‑square‑foot office property built in 1978
- Leased to office and medical professionals
- C‑1 zoning
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
$68,293
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
6.21%
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%
$1,365,860
$1.4M
Cap Rate 7%
$975,614
$975.6K
Cap Rate 9%
$758,811
$758.8K
Market Conditions
NOI Build-Up for 6,514 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
$129.0K $19.80/SF
− Vacancy
−$15.2K −$2.33/SF
EGI
$113.8K $17.47/SF
− OpEx
−$45.5K −$6.99/SF
NOI
$68.3K $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 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%
$1,365,860
Cap Rate 7%
$975,614
Cap Rate 9%
$758,811
Alternative Uses
Best Use
Healthcare Medical
$975.6K
$853.7K – $1.14M
NOI $68,293 @ 7.0% cap · market cap 6.21%
Second Best
Office B
$320.3K
$280.3K – $373.7K
NOI $22,424 @ 7.0% cap · market cap 2.04%
Theoretical Best
Specialty Retail
$1.22M
$1.07M – $1.42M
NOI $85,367 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
583
Businesses Nearby
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - C-1-zoned office property leased to office and medical professionals with recent site and building improvements.
Where is this office building located?
The property is located at 48701 Van Dyke Shelby Township, MI.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: 6,514‑square‑foot office property built in 1978; Leased to office and medical professionals; C‑1 zoning
