Freestanding Medical Office
For Sale
Contact for pricing
5311 SW Clyde Park Avenue All, Wyoming, MI 49509
Renovated medical office with clinical areas, patient space, and multiple restrooms.
Property Size10,577 SF
Lot Size1.37 Acres
Price / SF$0.00
Days on Market62
Property Features for 5311 SW Clyde Park Avenue All
General Information
Standard status
Active
Size
10,577 SF
Total Parking Spaces
40
Lot size
1.37 Acres
Zoning
RO-1
Additional Details
Highway Access
Yes
Amenities
multiple offices/clinical area
conference room
large patient treatment/waiting area
locker room
breakroom
multiple restrooms
loading/storage area with GLOH door
monument/building signage
Building Details
Year Built
1994
Year Renovated
2018
Buildings
1
Building Size
10,577 SF
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Jodi K Milks · License #6506044331
(269) 459-0439
Source:
Charterpropertiesgr
Added: Aug 19
Changed: Oct 5
Last Checked: Oct 16 at 9:06AM
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 NAI Wisinski of West Michigan
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Investment Insights
Based on property information with market context.
This freestanding medical office building contains 10,577 SF on a 1.37-acre parcel. Constructed in 1994 and renovated in 2018, the existing layout includes multiple offices and clinical areas, a conference room, patient treatment and waiting space, locker room, breakroom, multiple restrooms, and a loading and storage area with a GLOH door. Monument and building signage are included, along with approximately 40 parking spaces.
The property is located at 5311 Clyde Park Avenue in Wyoming, Michigan, approximately one-half mile west of the US-131 and 54th Street interchange and 7 miles southwest of downtown Grand Rapids. RO-1, Restricted Office District zoning applies, and the site offers two ingress and egress options. Surrounding occupants include Innovation Center/U of M Health-West, PNC Bank, WKTV, and Excel Engineering.
The property is located at 5311 Clyde Park Avenue in Wyoming, Michigan, approximately one-half mile west of the US-131 and 54th Street interchange and 7 miles southwest of downtown Grand Rapids. RO-1, Restricted Office District zoning applies, and the site offers two ingress and egress options. Surrounding occupants include Innovation Center/U of M Health-West, PNC Bank, WKTV, and Excel Engineering.
Key Highlights
- 10,577 SF freestanding medical office building
- Renovated in 2018; originally constructed in 1994
- 1.37‑acre parcel with approximately 40 parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,113
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,882,260
$1.9M
Cap Rate 7%
$1,344,471
$1.3M
Cap Rate 9%
$1,045,700
$1.0M
Market Conditions
NOI Build-Up for 10,577 SF
Gross rent
$163.7K $15.48/SF
− Vacancy
−$6.9K −$0.65/SF
EGI
$156.9K $14.83/SF
− OpEx
−$62.7K −$5.93/SF
NOI
$94.1K $8.90/SF
Area
Kent County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,882,260
Cap Rate 7%
$1,344,471
Cap Rate 9%
$1,045,700
Alternative Uses
Best Use
Office B
$1.51M
$1.32M – $1.76M
NOI $105,683 @ 7.0% cap · market cap 704,553.33%
Second Best
Healthcare Medical
$1.34M
$1.18M – $1.57M
NOI $94,113 @ 7.0% cap · market cap 627,420.00%
Theoretical Best
Office A
$1.89M
$1.66M – $2.21M
NOI $132,423 @ 7.0% cap · market cap 882,820.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
305
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49509, MI
28,340
Population
10,611
Households
2.7
Avg Household Size
34
Median Age
19%
College-Educated
85%
High-School Grad
7.3 sq mi
ZIP Area
3,882
Density / Sq Mi
$64,981
Median Household Income
$38,356
Median Earnings
$983
Median Rent
$183,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Renovated medical office with clinical areas, patient space, and multiple restrooms.
Where is this medical office space located?
The property is located at 5311 SW Clyde Park Avenue All Wyoming, MI.
What are key features of this property?
This property features: 10,577 SF freestanding medical office building; Renovated in 2018; originally constructed in 1994; 1.37‑acre parcel with approximately 40 parking spaces
