Medical Office Space with
For Sale
$299,900
7247 Schaefer Rd, Dearborn, MI 48126
Finished lower-level space and multiple private rooms accommodate medical or office operations.
Property Size1,500 SF
Price / SF$199.93
Days on Market23
Property Features for 7247 Schaefer Rd
General Information
Standard status
Active
Size
1,500 SF
Additional Details
Road Access
Yes
Building Details
Year Built
1948
Listing Agency:
Own It Realty
(313) 646-7363
Listed By:
Hassan Scheib · License #6502399271
Source:
Katie-k
Added: Aug 8
Changed: Aug 29
Last Checked: Aug 29 at 5:11PM
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 Own It Realty
Investment Insights
Based on property information with market context.
This medical office property includes multiple private rooms and a fully finished basement, providing a practical configuration for medical or office use. The building dates to 1948 and presents a dedicated commercial setting for an operating business or professional practice.
Located on Schaefer Road near Warren Road in Dearborn, the property offers road frontage and exposure along a recognized local corridor. Its existing room layout and finished lower level provide defined areas for offices, treatment rooms, support functions, or other uses consistent with the property’s medical and office positioning.
Located on Schaefer Road near Warren Road in Dearborn, the property offers road frontage and exposure along a recognized local corridor. Its existing room layout and finished lower level provide defined areas for offices, treatment rooms, support functions, or other uses consistent with the property’s medical and office positioning.
Key Highlights
- Multiple private rooms for office or medical use
- Fully finished basement
- Schaefer Road frontage near Warren Road
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
$16,891
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
5.63%
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%
$337,820
$337.8K
Cap Rate 7%
$241,300
$241.3K
Cap Rate 9%
$187,678
$187.7K
Market Conditions
NOI Build-Up for 1,500 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
$30.6K $20.40/SF
− Vacancy
−$2.4K −$1.63/SF
EGI
$28.2K $18.77/SF
− OpEx
−$11.3K −$7.51/SF
NOI
$16.9K $11.26/SF
Area
Dearborn, MI
Vacancy
8.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
40.00%
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%
$337,820
Cap Rate 7%
$241,300
Cap Rate 9%
$187,678
Alternative Uses
Best Use
Healthcare Medical
$241.3K
$211.1K – $281.5K
NOI $16,891 @ 7.0% cap · market cap 5.63%
Second Best
Office B
$236.2K
$206.6K – $275.5K
NOI $16,531 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$330.9K
$289.5K – $386.1K
NOI $23,163 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
939
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48126, MI
55,863
Population
16,919
Households
3.3
Avg Household Size
28
Median Age
24%
College-Educated
74%
High-School Grad
8.4 sq mi
ZIP Area
6,650
Density / Sq Mi
$42,353
Median Household Income
$27,724
Median Earnings
$1,222
Median Rent
$200,600
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 - Finished lower-level space and multiple private rooms accommodate medical or office operations.
Where is this medical office space located?
The property is located at 7247 Schaefer Rd Dearborn, MI.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Multiple private rooms for office or medical use; Fully finished basement; Schaefer Road frontage near Warren Road
