Medical Office with Finished
For Sale
$230,000
Pending
8584 N Canton Center Rd, Canton, MI 48187
Medical office configuration includes patient reception, exam rooms, and a finished basement with kitchen and full bathroom.
Property Size1,469 SF
Days on Market161
Property Features for 8584 N Canton Center Rd
General Information
Standard status
Pending
Size
1,469 SF
Taxes and HOA fees
Annual Taxes
$4,167
Amenities
fully finished basement
Listing Agency:
Empire Realty Group Fawaz & Associates
(313) 944-2222
Listed By:
Ayat Sleiman · License #6501437088
(313) 944-2222
Source:
Exprealty
Added: Mar 24
Changed: Aug 31
Last Checked: Aug 31 at 7:59PM
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 Empire Realty Group Fawaz & Associates
Investment Insights
Based on property information with market context.
This medical office property at 8584 N Canton Center Rd provides a practical layout for clinical operations, with six exam rooms or offices, a reception area, and a lobby designed to support patient movement and waiting. The space is described as clean, well-maintained, and fully functional.
A finished basement expands the usable area and includes a kitchen and full bathroom, providing additional support space for staff or other extended uses. The property is offered for sale and is located in Canton, Michigan.
A finished basement expands the usable area and includes a kitchen and full bathroom, providing additional support space for staff or other extended uses. The property is offered for sale and is located in Canton, Michigan.
Key Highlights
- Six exam rooms or offices support clinical operations
- Reception area and lobby included in the main layout
- Fully finished basement adds usable support space
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
$15,469
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
6.73%
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%
$309,380
$309.4K
Cap Rate 7%
$220,986
$221.0K
Cap Rate 9%
$171,878
$171.9K
Market Conditions
NOI Build-Up for 1,469 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
$29.4K $20.04/SF
− Vacancy
−$3.7K −$2.49/SF
EGI
$25.8K $17.55/SF
− OpEx
−$10.3K −$7.02/SF
NOI
$15.5K $10.53/SF
Area
Wayne County, MI
Vacancy
12.42%
Lease Rate
$20.04 /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%
$309,380
Cap Rate 7%
$220,986
Cap Rate 9%
$171,878
Alternative Uses
Best Use
Healthcare Medical
$221.0K
$193.4K – $257.8K
NOI $15,469 @ 7.0% cap · market cap 6.73%
Second Best
Office B
$72.2K
$63.2K – $84.3K
NOI $5,057 @ 7.0% cap · market cap 2.20%
Theoretical Best
Specialty Retail
$272.0K
$238.0K – $317.3K
NOI $19,038 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48187, MI
52,498
Population
20,548
Households
2.6
Avg Household Size
39
Median Age
53%
College-Educated
95%
High-School Grad
18.1 sq mi
ZIP Area
2,900
Density / Sq Mi
$117,980
Median Household Income
$60,137
Median Earnings
$1,435
Median Rent
$341,400
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 - Medical office configuration includes patient reception, exam rooms, and a finished basement with kitchen and full bathroom.
Where is this medical office space located?
The property is located at 8584 N Canton Center Rd Canton, MI.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Six exam rooms or offices support clinical operations; Reception area and lobby included in the main layout; Fully finished basement adds usable support space
