Medical Office Condo
For Sale
Contact for pricing
555 W Wackerly St, Midland, MI 48640
Second-floor office condo offers four exam rooms, a reception, and a large waiting room, plus basement storage cage.
Property Size2,300 SF
Price / SF$206.52
Days on Market97
Property Features for 555 W Wackerly St
General Information
Standard status
Active
Size
2,300 SF
Property subtype
OFFICE
Amenities
storage cage
snowplowing
landscaping
dumpster
general maintenance
generator maintenance
elevator maintenance
Listing Agency:
Trademark Commercial Group
(989) 295-0353
Listed By:
Gretchen Witherspoon,SIOR,CCIM
(989) 295-0353
Source:
Moodyscre
Added: Apr 30
Changed: Jul 25
Last Checked: Aug 3 at 8:40AM
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 Trademark Commercial Group
Investment Insights
Based on property information with market context.
Located on the second floor, this medical office condo unit within the 555 Wackerly Building offers a practical patient-flow layout with four exam rooms, a back office, a spacious reception, and a large waiting room. The unit also includes a 12' x 20' cage/storage space in the basement.
Additional ownership responsibilities noted in the remarks include monthly condo fees, separately metered gas and electric, separately metered water and sewer, real estate taxes, and HVAC maintenance, with the HVAC unit reportedly replaced about eight years ago. The seller also lists interior skylight maintenance in the waiting room as an owner responsibility.
Condo fees cover snowplowing, landscaping, dumpster service, general maintenance, generator maintenance, elevator maintenance, and other capital costs managed through the association account.
Additional ownership responsibilities noted in the remarks include monthly condo fees, separately metered gas and electric, separately metered water and sewer, real estate taxes, and HVAC maintenance, with the HVAC unit reportedly replaced about eight years ago. The seller also lists interior skylight maintenance in the waiting room as an owner responsibility.
Condo fees cover snowplowing, landscaping, dumpster service, general maintenance, generator maintenance, elevator maintenance, and other capital costs managed through the association account.
Key Highlights
- 2nd‑floor office condo in the 555 Wackerly Building in Midland, MI, offering 2,300 SF of space
- Includes four exam rooms, a spacious reception, and a large waiting room plus a back office
- Basement storage included: 12' x 20' cage/storage
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.4k | $18.00 |
| − Vacancy | −$3.0k | −$1.30 |
| EGI | $38.4k | $16.70 |
| − OpEx | −$15.4k | −$6.68 |
| NOI | $23.1k | $10.02 |
2,300 SF · lease $18.00/SF/yr · vacancy 7.20% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$329.3K
$288.2K – $384.2K
NOI $23,052 @ 7.0% cap · market cap 4.85%
Second Best
Office B
$308.7K
$270.1K – $360.2K
NOI $21,611 @ 7.0% cap · market cap 4.55%
Theoretical Best
Flex RnD
$415.1K
$363.2K – $484.3K
NOI $29,059 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
778
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48640, MI
31,840
Population
14,340
Households
2.2
Avg Household Size
41
Median Age
38%
College-Educated
96%
High-School Grad
105.1 sq mi
ZIP Area
303
Density / Sq Mi
$81,630
Median Household Income
$43,353
Median Earnings
$928
Median Rent
$191,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Animal Medical Center — 709 E Wackerly St, Midland, MI 48642
- Eastman Animal Hospital — 5910 Eastman Ave, Midland, MI 48640
- Robert F. Wenzel, DVM — 5910 Eastman Ave, Midland, MI 48640
- Eastman Animal Clinic: Hansen Ruth DVM — 5910 Eastman Ave, Midland, MI 48640
- Butler Bernard D DVM — 5910 Eastman Ave, Midland, MI 48640, United States
Frequently Asked Questions
What type of property is this?
Medical Office Space - Second-floor office condo offers four exam rooms, a reception, and a large waiting room, plus basement storage cage.
Where is this medical office space located?
The property is located at 555 W Wackerly St Midland, MI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2nd‑floor office condo in the 555 Wackerly Building in Midland, MI, offering 2,300 SF of space; Includes four exam rooms, a spacious reception, and a large waiting room plus a back office; Basement storage included: 12' x 20' cage/storage
