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    1375 Lapeer Rd Orion Township, MI 48360

    Sponsored
    For Lease
    $25 SF/Yr

    Class A Medical Office Space For Lease

    Lot size:
    22,383 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional Class A medical office building, located at 1375 S Lapeer Rd in Orion Township, MI 48360 (South of Clarkston Road), offers 22,383 square feet of prime space for lease. Built in 2003 and extensively renovated in 2018, the property boasts a modern design and high-quality finishes. The single, two-story building sits on a spacious 6.39-acre lot and provides ample parking with 247 spaces. The flexible floor plan allows for multiple tenancy options, with spaces ranging from a minimum of 754 square feet to a maximum contiguous space of 7,278 square feet. Currently, 22,285 square feet is available for lease. The property is zoned RB Restricted Business and is situated in the desirable Lake Orion submarket within the North Oakland County cluster. Its convenient location and modern amenities make it an ideal setting for a variety of medical practices. The building's excellent condition and ample parking ensure a comfortable and efficient work environment for tenants and their clients. This is a rare opportunity to secure high-quality medical office space in a thriving Oakland County location.

    Property Features for 1375 Lapeer Rd

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    22,383 SF
    Class
    A
    Total Rate
    47563.88

    Building Details

    Year Built/Renovated
    2003/2018
    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    Suite 102
    Size
    754 SF
    Rate per SF
    $25
    Space
    Suite 106
    Size
    7,278 SF
    Rate per SF
    $25
    Space
    Suite 202
    Size
    2,351 SF
    Rate per SF
    $25
    Space
    Suite 205
    Size
    3,851 SF
    Rate per SF
    $25
    Space
    Suite 200
    Size
    4,327 SF
    Rate per SF
    $25
    Space
    Suite 203
    Size
    3,724 SF
    Rate per SF
    $25

    HighLights

    • Up to 14,253 contiguous square feet available for lease.
    • Class A medical office building.
    • Suites ranging from 754 to 14,253 square feet.
    • 7,278‑square‑foot first‑floor space ideal for urgent care available.
    • High‑traffic Lapeer Road location.
    • Diverse tenant mix including pediatrics, physical therapy, and imaging.
    Property Profile Location Intelligence

    Current Use by Public Records

    Michigan Institute for Advanced ... Surgical Center NovaCare Rehabilitation - Lake ... Physical Therapy Clinic Lake Orion Diagnostic ... X-Ray Lab Hanoudi Zaid N ... Family Practice Physician Larsen Theresa MD Internist

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Orion Township
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2418183
    Latitude
    42.7618878

    Nearby Comparable

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    FAQs

    What type of property is this?
    Medical office - Class A Medical Office Space For Lease
    Where is this medical office located?
    The property is located at 1375 Lapeer Rd Orion Township, MI.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: Up to 14,253 contiguous square feet available for lease.; Class A medical office building.; Suites ranging from 754 to 14,253 square feet.
    Request Owner's contact information
    1375 Lapeer Rd Orion Township, MI 48360
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    Orion Township, MI 48360
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1375 Lapeer Rd Orion Township, MI 48360
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