Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    23350 Greenfield Rd Oak Park, MI 48237

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Medical/Office space available in Oak Park, utilities included.

    Property Features for 23350 Greenfield Rd

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Wendy Acho
    Wendy Acho
    Source: Crexi

    Listing Agency: NAI Farbman Listing Agent: Wendy Acho

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Beacon Office Center Medical Space

    Located at the Beacon Office Center at 23350 Greenfield Rd in Oak Park, MI 48237, this medical/office space offers 1,400 square feet for lease. The property is situated at the intersection of Greenfield Rd, just north of 9 Mile Road, providing convenient access to Providence Hospital and a heavy retail corridor. Transportation access is facilitated by proximity to the John Lodge (M-10), I-696, and Southfield Road/Southfield Freeway. Built in 2001, the two-story building includes two elevators and provides 70 surface parking spaces. The property is located along Greenfield Rd’s new community-scale retail nodes, commercial corridors and shopping centers, including Fortune 500 restaurants, grocery stores and retailers. The location benefits from dense community within a 3-mile radius, excellent traffic counts on Greenfield and 9 Mile Rd, and daytime employment exceeding 55,000 within a 3-mile radius. Current co-tenants include a dentist, physical therapy, pharmacy, and chiropractor. The monthly lease rate is $1,750, which includes utilities.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center 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

    Dworkis Dog & Cat Hospital

    Location Insight

    • Map
    • Local Demand
    City
    Oak Park
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2007634
    Latitude
    42.4613181

    Nearby Similar for Lease

    • $2,800 /Mo

      Oak Park Retail/Office Space

      2,640 SF turn-key space on W 9 Mile Rd for lease.
      10840 W Nine Mile Rd, Oak Park, MI 48237
      View Details
    • $2,050 /Mo

      Turnkey Office Space in Oak Park

      Turnkey office space ideal for business or wellness uses.
      8750 W Nine Mile Rd, Oak Park, MI 48237
      View Details
    • $1,750 /Mo

      Prime Medical/Office Space Available

      Office space for rent near major roads and Providence Hospital.
      23350 Greenfield Rd, Oak Park, MI 48237
      View Details
    • $14 SF/Yr

      Prime Office Space For Lease

      Office space for lease with excellent signage and accessibility.
      20820 Greenfield Rd, Oak Park, MI 48237
      View Details
    • $2,200 /Mo

      Retail Space on Coolidge Avenue

      Retail space for lease in Oak Park, near I-696.
      26001 Coolidge Hwy, Oak Park, MI 48237
      View Details
    • $2,800 /Mo

      Office Space for Rent

      Office space available for lease in Oak Park, Michigan.
      10840 W Nine Mile Rd, Oak Park, MI 48237
      View Details
    • $2,100 /Mo

      Retail/Office Space For Lease

      1,400 SF retail or office space with parking.
      26039 Coolidge Hwy, Oak Park, MI 48237
      View Details
    • Contact for pricing

      Oak Park Commercial Space Available

      Commercial property available for rent in Oak Park, Michigan.
      20800 Greenfield Rd, Oak Park, MI 48237
      View Details
    • $13 SF/Yr
      4,967 SF

      West 9 Mile Rd Retail Center

      Two Suites Available, Prime Location
      10800 Nine Mile Rd, Oak Park, MI 48237
      View Details
    • Contact for pricing
      2,100 SF

      New Construction Flex Space

      New construction flex space with drive-thru capability and fenced yard.
      14350 W Eight Mile Rd, Oak Park, MI
      View Details
    • Contact for pricing

      Greenfield Plaza Commercial Space Available

      Prime Oak Park commercial space, flexible layouts.
      21700 Greenfield Rd, Oak Park, MI 48237
      View Details
    • $25,200
      2,645 SF

      Oak Park Retail Space For Lease

      Prime Oak Park storefront, 1,515 sq ft available.
      26001 Coolidge Hwy, Oak Park, MI 48237
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Medical/Office space available in Oak Park, utilities included.
    Where is this medical office space located?
    The property is located at 23350 Greenfield Rd Oak Park, MI.
    What are key features of this property?
    This property features: - Utilities included in $1,750 monthly rent.; - Prime medical/office space near Providence Hospital.; - Convenient location at the intersection of Greenfield Rd. and 9 Mile Rd.
    (248) 563-0739
    Request Owner's contact information
    23350 Greenfield Rd Oak Park, MI 48237
    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.
    23350 Greenfield Rd
    Oak Park, MI 48237
    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
    23350 Greenfield Rd Oak Park, MI 48237
    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

    We can help!
    Listing Contact
    Wendy Acho
    Wendy Acho
    Real Estate License ID: 6501411463
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!