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Property profile & analytics
FOR LEASE
Medical Office Space
13530 Michigan Ave 230-240 Dearborn, MI 48126
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US43-0612013
For Lease
1 / 25
$5,385,000
13530 Michigan Ave,Unit 230-240, Dearborn, MI 48126
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Property summary
AI-generated overview
This exceptional three-story medical office building, located at 13530 Michigan Ave, Dearborn, MI 48126, presents a unique investment opportunity. Completely renovated in 2024, this single building property boasts a prime corner location at the intersection of Michigan Avenue and Schaefer, ensuring excellent visibility and high traffic exposure. The building is zoned COMMERCIAL and offers multiple medical suites available for lease, each with various build-outs catering to diverse practice needs. The property is ideal for established medical practices seeking turnkey solutions or new ventures looking to establish a presence in a thriving area. Ample parking is provided for patients and staff. The building's history as the Masri Advanced Medical Center speaks to its established reputation within the medical community. This is a rare opportunity to acquire a well-maintained, strategically located medical office building in a high-demand area. The multiple suites offer flexibility for various medical specialties or even other compatible uses. Interested parties should inquire for further details regarding suite sizes, lease terms, and available amenities.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1931
Total area
70,869 SF
Lot
0.79 ac (34,412 SF)
Zoning code
BC
APN
82 10 171 17 002
UPID
US43-0612013
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Advanced Surgery Center Medical Clinic Hospital
-
Michigan Specialty Physicians LLC Medical Laboratory Otolaryngologist
-
Medex Pharmacy LLC Pharmacy
-
Masri Clinic for Laser and Cosmetic Surgery Medical Clinic
-
Dr. Raj K. Gupta, MD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.38M
Blend (final)
Blend
$5.39M
Owner & transaction history
Historic Schaefer Props LLC · 15 yrs held
Historic Schaefer Props LLC
since 2011
7 recorded transactions
Zoning & alternative use
BC · Dearborn, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$7.7M
+2.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Dearborn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Dearborn submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$7,455,000
Current use
RETAIL STORES
$7,665,000
Change: +3% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,205,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$5.39M
Range $4.85M – $5.92M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$76 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$83,961
Tax year 2023
Assessed value
$3,071,800
Assessed 2024
Previous assessed
$2,903,400
+5.8% YoY
Effective rate
2.73%
On assessed value
Total market value
$6,143,600
Applied tax rate
82,030.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1931
Heating
FORCED AIR
Stories
3
Total area
70,869 SF
Lot
0.79 ac (34,412 SF)
Zoning code
BC
APN
82 10 171 17 002
UPID
US43-0612013
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
BC · Dearborn, MI
Zoning BC · permitted uses
BC · Dearborn, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Dearborn. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$7.5M
RETAIL STORES
Est. value
$7.7M
COMMERCIAL (GENERAL)
Est. value
$7.2M
MEDICAL BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1931
Heating
FORCED AIR
Stories
3
Lot
0.79 ac
Current owner
From public records · entity-resolved
Historic Schaefer Props LLC
Entity
Mailing address
13530 MICHIGAN AVE STE #400, DEARBORN, MI 48126-3575
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 28, 2019
—
Historic Schaefer Properties LLC
—
Deed
related
$5,000,000 · Zb NA
Mar 24, 2011
$1,375,000
Historic Schaefer Props LLC
Champion Properties INC
Quit Claim Deed
related
$500,000 · Bmj Real Estate LLC
—
—
Historic Schaefer Props LLC
—
Deed Of Trust
related
$430,400 · Michelle Jawad
—
—
Historic Schaefer Props LLC
—
Deed Of Trust
related
$3,175,000 · Citizens Federal Bank Fsb
—
—
Historic Schaefer Props LLC
—
Loan Modification
related
$3,280,000 · Citizens Federal Bank Fsb
—
—
Historic Schaefer Props LLC
—
Deed Of Trust
related
$5,000,000 · Homebanc
—
—
Historic Schaefer Props LLC
—
Deed Of Trust
related
$276,400 · Us Small Busn Admn
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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