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    The Largest CRE Database in the US with Over 1 Million Listings

    7505 Grafton Rd Newport, MI Newport

    Sponsored
    For Lease
    $10 SF/Yr ($3,375 /Mo)

    Prime Medical/Office Building, 4050 SF

    Lot size:
    4,050 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    416
    This exceptional single-tenant medical office building, located at 7505 Grafton Road in Newport, Michigan, presents a unique opportunity for businesses seeking a prominent presence in a thriving community. The property boasts a substantial 4,050 square feet of versatile space, ideal for a variety of professional uses, from small medical practices to larger commercial enterprises. Situated on a generous 8.9-acre lot, the building offers ample parking and high visibility, benefiting from its convenient location just off Telegraph Road. Constructed in 1992, the building is well-maintained and provides excellent accessibility. The single-suite layout offers efficiency and flexibility, allowing for customization to meet specific business needs. This property is perfect for businesses seeking a central location with high traffic exposure in a growing area. The space is adaptable to various configurations, making it an attractive option for a range of professional services. Its strategic location ensures easy access for clients and employees alike. This is a rare opportunity to acquire a well-positioned, substantial commercial property in a desirable Monroe County location. Don't miss the chance to establish your business in this prime location.

    Property Features for 7505 Grafton Rd

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,050 SF
    Total Rate
    3375

    Unit(s) available at that property

    Space
    Size
    4,050 SF
    Rate per SF
    $10

    We can help!

    Listing Contact
    Tom Fritz
    Tom Fritz

    Learn more

    HighLights

    • 4,050 square foot medical/commercial office building on 8.9 acres in Monroe County.
    • Single‑tenant occupancy.
    • Located at 7505 Grafton Road, Newport, MI, offering high visibility and convenient access.
    • Suitable for a variety of professional uses, from small practices to larger businesses.
    • Built in 1992.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Map

    City
    Newport
    County
    Monroe
    State
    Michigan
    Longitude
    -83.371363
    Latitude
    41.985885

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    FAQs

    What type of property is this?
    Medical office - Prime Medical/Office Building, 4050 SF
    Where is this medical office located?
    The property is located at 7505 Grafton Rd Newport, MI.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: 4,050 square foot medical/commercial office building on 8.9 acres in Monroe County.; Single-tenant occupancy.; Located at 7505 Grafton Road, Newport, MI, offering high visibility and convenient access.
    Request Owner's contact information
    7505 Grafton Rd Newport, MI Newport
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    Newport, MI Newport
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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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    7505 Grafton Rd Newport, MI Newport
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    We can help!
    Listing Contact
    Tom Fritz
    Tom Fritz
    Real Estate License ID: MI
    Learn more
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