Newly Built Medical/Office
For Sale
Contact for pricing
6001 Cheshire Park Dr Village of, Clarkston, MI 48346
New medical/office building in Village of Clarkston, Michigan.
Property Size22,000 SF
Price / SF$111.36
Days on Market747
Property Features for 6001 Cheshire Park Dr Village of
General Information
Standard status
Active
Size
22,000 SF
Class
A
Property subtype
Office
Listing Agency:
NAI Farbman Southfield
Listed By:
Brad Margolis · License #MI 6501371948
(248) 351-4367
Source:
Crexi
Added: Aug 29, 2024
Changed: Aug 31
Last Checked: Sep 13 at 6:57AM
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 Farbman Southfield
Investment Insights
Based on property information with market context.
This is a newly constructed medical/office building. The property is located in the Village of Clarkston, Michigan. The property has a size of 22000 square feet and is suitable for medical or office use.
Key Highlights
- Newly Built Medical / Office Building
- Gorgeous Design
- Ideal for Medical Use
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
$75,735
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
3.09%
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%
$1,514,700
$1.5M
Cap Rate 7%
$1,081,929
$1.1M
Cap Rate 9%
$841,500
$841.5K
Market Conditions
NOI Build-Up for 22,000 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
$132.0K $6.00/SF
− Vacancy
−$31.0K −$1.41/SF
EGI
$101.0K $4.59/SF
− OpEx
−$25.2K −$1.15/SF
NOI
$75.7K $3.44/SF
Area
Oakland County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,514,700
Cap Rate 7%
$1,081,929
Cap Rate 9%
$841,500
Alternative Uses
Best Use
Healthcare Medical
$4.25M
$3.72M – $4.96M
NOI $297,713 @ 7.0% cap · market cap 12.15%
Second Best
Office B
$1.08M
$946.7K – $1.26M
NOI $75,735 @ 7.0% cap · market cap 3.09%
Theoretical Best
Specialty Retail
$4.75M
$4.15M – $5.54M
NOI $332,165 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48346, MI
23,058
Population
10,157
Households
2.3
Avg Household Size
42
Median Age
41%
College-Educated
95%
High-School Grad
18.1 sq mi
ZIP Area
1,274
Density / Sq Mi
$97,857
Median Household Income
$49,935
Median Earnings
$1,360
Median Rent
$295,200
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?
Medical Office Space - New medical/office building in Village of Clarkston, Michigan.
Where is this medical office space located?
The property is located at 6001 Cheshire Park Dr Village of Clarkston, MI.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: Newly Built Medical / Office Building; Gorgeous Design; Ideal for Medical Use
