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    36800 Woodward Ave Bloomfield Hills, MI 48304

    Sponsored
    For Lease
    $30 SF/Yr

    Prime Medical Office Building, Oakland County

    Lot size:
    46,678 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional medical office building, located at 36800 Woodward Avenue in Bloomfield Hills, Michigan, offers 46,678 square feet of prime space. Currently, there are 10,235 square feet of vacant space available for lease, divided into multiple suites ranging from 1,875 to 3,098 square feet. The building is categorized as a multi-tenant property, ideal for various medical practices or professional services. Situated in the desirable Oakland County, this property boasts a convenient location with ample parking, providing 180 spaces for staff and patients. The building's classification as a medical office building ensures it meets the specific needs and requirements of healthcare professionals. The address is 36800 Woodward Avenue, Bloomfield Hills, MI 48304. This presents a unique opportunity to establish or expand a medical practice in a thriving community with excellent accessibility and visibility. The available space is adaptable to suit a variety of medical specialties and practice sizes. Interested parties are encouraged to inquire about lease terms and availability. The property's strategic location in Bloomfield Hills offers easy access to major roadways and a strong patient base. This is a rare opportunity to secure high-quality medical office space in a highly sought-after location.

    Property Features for 36800 Woodward Ave

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    46,678 SF
    Total Rate
    116695

    Unit(s) available at that property

    Space
    Suite 310
    Size
    3,098 SF
    Rate per SF
    $30
    Space
    SUITE 225
    Size
    1,875 SF
    Rate per SF
    $30
    Space
    Suite 330
    Size
    2,852 SF
    Rate per SF
    $30
    Space
    SUITE 112
    Size
    2,410 SF
    Rate per SF
    $30

    HighLights

    • Prestigious Bloomfield Hills office building.
    • Suites ranging from 1,800 to 3,100 square feet available.
    • Suitable for office and medical uses.
    • Attractive landscaped courtyard with furnishings and lighting.
    • Recently renovated common areas, Neumann Smith Architects design.
    • Woodward Avenue location with convenient access from Woodward Ave and Quarton Rd, near downtown Birmingham.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Bloomfield Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2223019
    Latitude
    42.5588505

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    FAQs

    What type of property is this?
    Medical office - Prime Medical Office Building, Oakland County
    Where is this medical office located?
    The property is located at 36800 Woodward Ave Bloomfield Hills, MI.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: Prestigious Bloomfield Hills office building.; Suites ranging from 1,800 to 3,100 square feet available.; Suitable for office and medical uses.
    Request Owner's contact information
    36800 Woodward Ave Bloomfield Hills, MI 48304
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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
    36800 Woodward Ave Bloomfield Hills, MI 48304
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