Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Medical Building on Wayne Road Title is generated by Realmo AI

    5978 N Wayne Rd, Westland, MI 48185

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    2,072 SF medical building with two suites for sale.

    Type:Office
    Property size:
    2,072 SF
    Added:
    Oct 10, 2022
    Days on Market:
    1336
    Last Refresh:
    May 20 at 8:08 pm

    Property Features for 5978 N Wayne Rd

    General Information

    Standard status
    Active
    Size
    2,072 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Jacob Sworski

    Listing agent Jacob Sworski License #MI

    Listing office ICONIC Real Estate

    Listing date Oct 10, 2022

    Source Crexi

    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 ICONIC Real Estate

    HighLights

    • High traffic location on Wayne Rd.
    • 2,072 SF Medical Building with two separate suites.
    • Each suite contains 3 exam rooms with sinks, 2 bathrooms, 1 office, kitchenette, and lobby.
    • 15 parking spots available.
    • Suites are approximately 1,036 SF each.
    • Located next to Westland Bowl.

    Overview

    This 2,072 square foot medical building is located next to Westland Bowl. The property features two separate suites, each approximately 1,036 square feet. Suite A includes 3 exam rooms with sinks, 2 bathrooms, 1 office, a kitchenette, and a lobby. Suite B mirrors this layout, also offering 3 exam rooms with sinks, 2 bathrooms, 1 office, a kitchenette, and a lobby. The property provides 15 parking spots and benefits from high traffic on Wayne Road.
    Property Profile Location Intelligence

    Current Use by Public Records

    Stem the Pain, LLC Medical Clinic

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Sarao Gabby DVM — 7610 N Wayne Rd, Westland, MI 48185
    • Petco Vaccination Clinic — 35725 Warren Rd, Westland, MI 48185
    • Mcneill Stephanie DVM — 7610 n wayne rd, westland, mi 48185

    Location Insight

    • Map
    • Local Demand
    City
    Westland
    County
    Wayne
    State
    Michigan
    Longitude
    -83.387698
    Latitude
    42.328917

    Nearby Similar for Sale

    • $599,999
      1,610 SF

      Turnkey Eatery in Wayne County

      Profitable, established Beyond Juicery + Eatery franchise in Westland, MI.
      9999 Middlebelt, Westland, MI 48185
      View Details
    • $8,200,000
      22,300 SF

      Turnkey Truck Terminal and Repair

      Multi-income commercial trucking facility with warehouse and repair shop.
      1475 S Newburgh Road, Westland, MI 48186
      View Details
    • $695,000
      5,487 SF

      Retail/Office Location on 1.29 Acres

      Retail or office location with 43 parking spaces.
      7957 N Wayne Rd, Westland, MI 48185
      View Details
    • $425,000
      2,718 SF

      Bakery Ready for New Owner

      Prime location with high visibility and equipped kitchen.
      844 N WAYNE Road, Westland City, MI 48185
      View Details
    • $675,000

      Westland Religious Facility For Sale

      Religious facility on 0.77 acres suitable for alternative uses.
      32747 Grand Traverse St, Westland, MI 48186
      View Details
    • $195,000
      1,814 SF

      Westland Multi-Family Investment Opportunity

      Multi-family property in Westland, move-in ready with surveillance system.
      33507 Berville Court, Westland, MI 48186
      View Details
    • $650,000

      Ford Road Redevelopment Opportunity

      Property on Ford Road with high traffic volume.
      37623 FORD Rd, Westland, MI 48185
      View Details
    • $1,800,000

      Commercial

      7345 N Middlebelt Rd, Westland, MI 48185
      View Details
    • $695,000
      3,094 SF

      Industrial Property with Office Conversion

      3,094 SF industrial property on 2.08 acres for sale.
      37667 Cherry Hill Rd, Westland, MI 48186
      View Details
    • $284,900

      Turn-Key Two-Unit Income Property

      Well-maintained, remodeled two-unit property in a prime location.
      1774 N Carlson St, Westland, MI 48185
      View Details
    • $199,900
      6,098 SF

      Westland Multifamily Investment Opportunity

      Two-unit property in Westland, Michigan with income potential.
      32046 Cheboygan Court, Westland, MI 48186
      View Details
    • $599,999
      1,610 SF

      Turnkey Eatery in Wayne County

      Profitable, established Beyond Juicery + Eatery franchise in Wayne County.
      9999 middlebelt, Westland, MI 48185
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - 2,072 SF medical building with two suites for sale.
    Where is this medical office space located?
    The property is located at 5978 N Wayne Rd Westland, MI.
    What are key features of this property?
    This property features: High traffic location on Wayne Rd.; 2,072 SF Medical Building with two separate suites.; Each suite contains 3 exam rooms with sinks, 2 bathrooms, 1 office, kitchenette, and lobby.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jacob Sworski
    Real Estate License ID: MI
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5978 N Wayne Rd, Westland, MI 48185
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!