Building Details

Building Size 11,000 SF

Buildings 1

Listing Agency: NAI Farbman

Listed By: Brad Margolis · License #6501371948 Show Phone

Source: Commercialcafe

Added: Jul 13 Changed: Oct 4 Last Checked: Oct 5 at 3:25PM

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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

Investment Insights

Based on property information with market context.

This newly constructed property is identified as medical office space with office use. The building is located off Sashabaw Road, north of Maybee Road, at 6001 Cheshire Park in Independence Township, Michigan.

Key Highlights

• Newly built medical office building
• Medical office and general office use
• Off Sashabaw Road

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$148,856

Cap Rate

6.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,977,120 $3.0M

Cap Rate 7%

$2,126,514 $2.1M

Cap Rate 9%

$1,653,956 $1.7M

Market Conditions

NOI Build-Up for 11,000 SF

Gross rent

$277.2K $25.20/SF

− Vacancy

−$29.1K −$2.65/SF

EGI

$248.1K $22.55/SF

− OpEx

−$99.2K −$9.02/SF

NOI

$148.9K $13.53/SF

Area

Oakland County, MI

Vacancy

10.50%

Lease Rate

$25.20 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,977,120

Cap Rate 7%

$2,126,514

Cap Rate 9%

$1,653,956

Alternative Uses

Best Use

Healthcare Medical

$2.13M

$1.86M – $2.48M (±1% cap)

NOI $148,856 @ 7.0% cap · market cap 6.08%

Second Best

Office B

$541.0K

$473.4K – $631.1K (±1% cap)

NOI $37,868 @ 7.0% cap · market cap 1.55%

Theoretical Best

Specialty Retail

$2.37M

$2.08M – $2.77M (±1% cap)

NOI $166,082 @ 7.0% cap · market cap 6.78%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Medical Office Space

Suggested Use

Top Pick Law Firm Big Box & Wholesale Store Parking Lot & Garage Auto Parts Store Plumbing Service Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

Similar Off Market Nearby

• Van Husan Charles R DVM — 6378 Sashabaw Rd, Clarkston, MI 48346, United States
• Advanced Pet Care of Oakland — 6378 Sashabaw Rd, Village of Clarkston, MI 48346

Frequently Asked Questions

What type of property is this?

Medical Office Space - Recently constructed office space positioned near Sashabaw Road and Maybee Road.

Where is this medical office space located?

The property is located at 6001 Cheshire Park Independence Township, 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; Medical office and general office use; Off Sashabaw Road