Medical Office
For Sale
$890,000
7477 S State Road, Goodrich, MI 48438
Occupied commercial property includes accessible parking and distinct upper and lower spaces.
Property Size3,339 SF
Price / SF$266.55
Days on Market52
Property Features for 7477 S State Road
General Information
Standard status
Active
Size
3,339 SF
Property subtype
Commercial
Zoning
Commercial
Lease Term
Cash, Conventional
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$22,359
Building Details
Building Size
3,339 SF
Year Built
1993
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Century 21 Metro Brokers-Davison
(810) 694-1000
Listed By:
Michelle Bundy
(810) 694-1000
Source:
Sabudarealty
Added: Jun 15
Changed: Aug 3
Last Checked: Aug 4 at 1:09PM
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 Century 21 Metro Brokers-Davison
Investment Insights
Based on property information with market context.
This medical office property, built in 1993, includes a 3,339-square-foot upper level and 2,800 square feet of lower-level rented space. The first unit is configured for a medical doctor’s office, and the building is subject to tenant rights. Two parking lots provide handicap-accessible parking. Commercial zoning supports the property’s existing office use, while tenants pay TICAM.
Capital improvements include a new well pump installed in 2023, an upper HVAC system replaced in 2021, and a lower HVAC system replaced in 2022. The roof was replaced in 2024. The property is located off M-15 at 7477 S State Road in Atlas Township, Michigan.
Capital improvements include a new well pump installed in 2023, an upper HVAC system replaced in 2021, and a lower HVAC system replaced in 2022. The roof was replaced in 2024. The property is located off M-15 at 7477 S State Road in Atlas Township, Michigan.
Key Highlights
- 3,339‑square‑foot upper level with 2,800 square feet of lower‑level rented space
- First unit configured for a medical doctor’s office
- Two handicap‑accessible parking lots
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 | $72.1k | $21.60 |
| − Vacancy | −$9.0k | −$2.70 |
| EGI | $63.1k | $18.90 |
| − OpEx | −$25.2k | −$7.56 |
| NOI | $37.9k | $11.34 |
3,339 SF · lease $21.60/SF/yr · vacancy 12.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$540.9K
$473.3K – $631.1K
NOI $37,864 @ 7.0% cap · market cap 4.25%
Second Best
Office B
$525.5K
$459.8K – $613.1K
NOI $36,784 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$702.6K
$614.8K – $819.7K
NOI $49,183 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48438, MI
7,074
Population
2,781
Households
2.5
Avg Household Size
44
Median Age
34%
College-Educated
98%
High-School Grad
31.9 sq mi
ZIP Area
222
Density / Sq Mi
$100,759
Median Household Income
$53,866
Median Earnings
$1,353
Median Rent
$309,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Pytel Veterinary Clinic — 7485 S State Rd, Goodrich, MI 48438
Frequently Asked Questions
What type of property is this?
Medical Office Space - Occupied commercial property includes accessible parking and distinct upper and lower spaces.
Where is this medical office space located?
The property is located at 7477 S State Road Goodrich, MI.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: 3,339‑square‑foot upper level with 2,800 square feet of lower‑level rented space; First unit configured for a medical doctor’s office; Two handicap‑accessible parking lots
