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

    41750 Michigan Ave, Canton, MI 48188

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Built-out medical office space with exam rooms and ample parking.

    Type:Office
    Property size:
    3,400 SF
    Price / SF:
    $139/SF
    Added:
    Apr 26, 2019
    Days on Market:
    2599
    Last Refresh:
    May 19 at 10:26 pm

    Property Features for 41750 Michigan Ave

    General Information

    Standard status
    Active
    Size
    3,400 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Kyle Nelson

    Listing agent Kyle Nelson License #MI 6501407469

    Listing office Insite Commercial

    Listing date Apr 26, 2019

    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 Insite Commercial

    HighLights

    • Built‑out Medical Office Space featuring seven exam rooms
    • Opportunity to divide into two medical suites
    • Signage on Michigan Ave. provides excellent visibility
    • Ample Parking for patients and staff
    • Four Restrooms

    Overview

    This is a built-out medical office space featuring seven exam rooms, four restrooms, a reception area, a waiting room, and executive offices. The 3,400 square-foot property presents an opportunity to divide the space into two medical suites. Signage is available on Michigan Avenue, and ample parking is provided.

    Local 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 $68.1k $20.04
    − Vacancy −$8.5k −$2.49
    EGI $59.7k $17.55
    − OpEx −$23.9k −$7.02
    NOI $35.8k $10.53
    3,400 SF · lease $20.04/SF/yr · vacancy 12.42% · expense 40.00%

    Alternative Uses

    Best Use
    Healthcare Medical
    $511.5K
    $447.6K – $596.7K (±1% cap)
    NOI $35,804 @ 7.0% cap · market cap 7.54%
    Second Best
    Office B
    $167.2K
    $146.3K – $195.1K (±1% cap)
    NOI $11,705 @ 7.0% cap · market cap 2.46%
    Theoretical Best
    Specialty Retail
    $629.5K
    $550.8K – $734.4K (±1% cap)
    NOI $44,064 @ 7.0% cap · market cap 9.28%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Excel Physical Therapy ... Physician Dr. Ghazala A. Burney, ... Physician Majid Taj Medical Clinic Canton Mold Inspection Home Inspector North American Distribution Distribution Center

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

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

    Similar Places Nearby

    • Canton Animal Hospital — 43439 Michigan Ave, Canton, MI 48188

    Location Insight

    • Map
    • Local Demand
    City
    Canton
    County
    Wayne
    State
    Michigan
    Longitude
    -83.451397
    Latitude
    42.278567

    Nearby Similar for Sale

    • $3,650,000
      17,474 SF

      Michigan Avenue Commercial Building For Sale

      17,474 sq ft building on 6.5 acres in Canton.
      43335 Michigan Ave, Canton, MI 48188
      View Details
    • $3,493,200
      6,511 SF

      Carrabba's Italian Grill For Sale

      6,511 SF restaurant on 1.98 acres in Canton, MI.
      1900 N Haggerty Rd, Canton, MI 48187
      View Details
    • $699,900
      5,000 SF

      Turnkey Grocery and Produce Market

      Grocery and produce market in high-traffic Canton location.
      7329 N Lilley Rd, Canton, MI 48187
      View Details
    • $3,650,000
      20,140 SF

      Freestanding Building For Sale

      20,140 square foot freestanding building available for sale.
      43335 Michigan Avenue, Canton, MI 48188-2632
      View Details
    • Contact for pricing
      1,512 SF

      Flex Space Available For Sale

      Flex space units available for sale.
      7910-7946 N Lilley Rd, Canton, MI 48187
      View Details
    • $7,999,999
      36,601 SF

      Canton Retail Trophy Asset

      Fully leased retail property with long-term national tenants.
      43435 Ford Rd, Canton, MI 48188
      View Details
    • Contact for pricing
      27,686 SF

      Travelodge Canton/Livonia Area Investment

      Profitable 83-unit hospitality property in a sought-after location.
      40500 Michigan Ave, Canton, MI 48188
      View Details
    • Contact for pricing

      Retail Space on Ford Road

      Retail property on a prominent commercial corridor with high traffic.
      42400 Ford Road, Canton, MI 48187
      View Details
    • Contact for pricing
      68,619 SF

      Canton Retail Center For Sale

      Dominant neighborhood shopping center in Canton retail area.
      5804-6034 N. Sheldon Road, Canton, MI 48187
      View Details
    • Contact for pricing
      193 SF

      Retail Space in New Towne Plaza

      Retail space in Canton's regional retail corridor on Ford Road.
      44412 Ford Road | Canton, MI 48187, MI 48187
      View Details
    • Contact for pricing
      55,000 SF

      Canton Industrial Property For Sale

      55,000 sqft industrial property available in Canton, Michigan.
      44052 Yost Rd, Canton, MI 48188
      View Details
    • $995,000
      7,680 SF

      Canton Retail Space For Sale

      Retail space available for purchase in Canton, Michigan.
      45570 Maben Rd, Canton, MI 48187
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Built-out medical office space with exam rooms and ample parking.
    Where is this medical office space located?
    The property is located at 41750 Michigan Ave Canton, MI.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: Built‑out Medical Office Space featuring seven exam rooms; Opportunity to divide into two medical suites; Signage on Michigan Ave. provides excellent visibility
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kyle Nelson
    Real Estate License ID: MI 6501407469
    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
    41750 Michigan Ave, Canton, MI 48188
    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!