Medical/Office Space with
950 S LAPEER Road Oxford, MI 48371
For Sale
$499,000
Pending
Versatile space ideal for medical or office use.
Property Size1,954 SF
Lot Size0.46 Acres
Days on Market639
Property Features for 950 S LAPEER Road
General Information
Standard status
Pending
Size
1,954 SF
Lot size
0.46 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1950
Listing Agency:
Max Broock, REALTORSÂ-Troy
(248) 214-3727
Listed By:
Jessica Gaul · License #6501416206
(248) 214-3727
Source:
Exitrealty
Added: Oct 30, 2024
Changed: Jul 6
Last Checked: Jul 29 at 7:20AM
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 Max Broock, REALTORSÂ-Troy
Investment Insights
Based on property information with market context.
This 1,954 square foot property is suitable for a med spa, medical practice, or therapist. Currently configured as a dental office, the space is ideal for a doctor, dental specialist, or general office use. Note that it is not for use as a general dental office. The property features two basements providing ample storage, parking, and a two-car garage. Signage is available on Lapeer Road, offering high visibility.
Key Highlights
- Perfect location for medical or therapy practices (med spa, medical practice, therapist).
- Existing infrastructure as a former dental office.
- High visibility and signage opportunity on Lapeer Rd.
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.2k | $25.20 |
| − Vacancy | −$5.2k | −$2.65 |
| EGI | $44.1k | $22.55 |
| − OpEx | −$17.6k | −$9.02 |
| NOI | $26.4k | $13.53 |
1,954 SF · lease $25.20/SF/yr · vacancy 10.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$377.7K
$330.5K – $440.7K
NOI $26,442 @ 7.0% cap · market cap 5.30%
Second Best
Office B
$96.1K
$84.1K – $112.1K
NOI $6,727 @ 7.0% cap · market cap 1.35%
Theoretical Best
Specialty Retail
$421.5K
$368.8K – $491.7K
NOI $29,502 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Bell Veterinary Clinic — 845 S Lapeer Rd, Oxford, MI 48371
- Oxford Veterinary Hospital — 6 Lincoln St, Oxford, MI 48371
- Dr. Stephen Steep — 6 Lincoln St, Oxford, MI 48371
Frequently Asked Questions
What type of property is this?
Medical Office Space - Versatile space ideal for medical or office use.
Where is this medical office space located?
The property is located at 950 S LAPEER Road Oxford, MI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Perfect location for medical or therapy practices (med spa, medical practice, therapist).; Existing infrastructure as a former dental office.; High visibility and signage opportunity on Lapeer Rd.
