Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Medical Office Building For Sale Title is generated by Realmo AI

    1623 Ford Ave, Wyandotte, MI 48192

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Class "B" medical office building near Henry Ford Wyandotte Hospital.

    Type:Office
    Property size:
    2,793 SF
    Added:
    Mar 5, 2022
    Days on Market:
    1552
    Last Refresh:
    May 20 at 8:12 pm

    Property Features for 1623 Ford Ave

    General Information

    Standard status
    Active
    Size
    2,793 SF
    Property subtype
    Office

    Building Details

    Year Built
    1956

    We can help!

    Listing Contact
    John Harwood

    Listing agent John Harwood License #MI 6502136733

    Listing office NAI Farbman Southfield

    Listing date Mar 5, 2022

    Source Crexi

    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 NAI Farbman Southfield

    HighLights

    • Located minutes from Henry Ford Wyandotte Hospital
    • Located minutes from Trenton Beaumont Hospital
    • Class "B" Medical Office Building
    • Available for Sale
    • Available for Lease
    • Year Built: 1956

    Overview

    This Class "B" medical office building is available for sale and lease. The property is located minutes from Henry Ford Wyandotte Hospital and Trenton Beaumont and has a size of 2793 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Similar Places Nearby

    • Downriver Animal Hospital — 2050 Ford Ave, Wyandotte, MI 48192

    Location Insight

    • Map
    • Local Demand
    City
    Wyandotte
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1904
    Latitude
    42.1883

    Nearby Similar for Sale

    • $650,000
      6,465 SF

      Versatile Commercial Property in Wyandotte

      6,000+ sq ft commercial space ready for immediate use.
      1219 Eureka Avenue, Wyandotte, MI 48192
      View Details
    • $975,000
      5,469 SF

      Retail Space in Wyandotte, MI

      Retail property for sale in Wyandotte, Michigan.
      1744 Biddle Avenue, Wyandotte, MI 48192
      View Details
    • $550,000
      6,000 SF

      Versatile Commercial Property Near Detroit River

      Renovated commercial property with multiple suites and income potential.
      3505 Biddle Ave, Wyandotte, MI 48192
      View Details
    • $1,800,000
      54,168 SF

      Wyandotte Warehouse with Storage Potential

      Large warehouse with self-storage opportunity and existing tenant in Wyandotte.
      341 Goddard Road, Wyandotte, MI 48192
      View Details
    • $900,000
      15,000 SF

      Wyandotte Flex Space For Sale

      15,000 sq ft flex space in Wyandotte for sale.
      2025 Eureka Rd, Wyandotte, MI 48192
      View Details
    • $650,000
      6,000 SF

      Versatile Commercial Property For Sale

      High-visibility commercial property with flexible space and ample parking.
      1219 Eureka Ave, Wyandotte, MI 48192
      View Details
    • $1,500,000
      2,998 SF

      Renovated Freestanding Retail/Restaurant Building

      2,998 SF renovated restaurant/retail building with outdoor café and parking.
      3807 Fort St | Wyandotte, MI 48192
      View Details
    • $230,000

      Brick Two-Unit Income Property

      Well-maintained two-family brick building with one vacant unit and one occupied unit, offering immediate rental income potential.
      153 Clinton Street, Wyandotte, MI 48192
      View Details
    • $222,500

      Wyandotte Duplex: Income Opportunity

      Turnkey duplex in Wyandotte with tenants through Fall 2026.
      1822 4th Street, Wyandotte, MI 48192
      View Details
    • $650,000
      9,537 SF

      Wyandotte Warehouse with Office Space

      9,537 SF warehouse with 4,537 SF of office space.
      759 Grove St, Wyandotte, MI
      View Details
    • $1,750,000
      21,000 SF

      Commercial Warehouse with Office Space

      Spacious warehouse with office, ample parking, and solar panels.
      4210 13th St, Wyandotte, MI 48192
      View Details
    • $219,000

      Turnkey Duplex in Wyandotte

      Classic duplex with immediate cash flow in high-demand rental area.
      840 Superior Boulevard, Wyandotte, MI 48192
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Class "B" medical office building near Henry Ford Wyandotte Hospital.
    Where is this medical office space located?
    The property is located at 1623 Ford Ave Wyandotte, MI.
    What are key features of this property?
    This property features: Located minutes from Henry Ford Wyandotte Hospital; Located minutes from Trenton Beaumont Hospital; Class "B" Medical Office Building
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    John Harwood
    Real Estate License ID: MI 6502136733
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1623 Ford Ave, Wyandotte, MI 48192
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!