Medical Office
For Sale
Contact for pricing
963 Oakwood Drive, Rochester, MI 48307
A 1972 brick building offers municipal water and sewer service on a 0.92-acre commercial property.
Property Size5,977 SF
Lot Size0.92 Acres
Price / SF$0.27
Days on Market41
Property Features for 963 Oakwood Drive
General Information
Standard status
Active
Size
5,977 SF
Lot size
0.92 Acres
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Property Use
Medical Office
Building Details
Year Built
1972
Buildings
1
Building Size
5,977 SF
Construction
brick
Listing Agency:
Top Agent Realty
(248) 277-4226
Listed By:
Jonathan Kassab · License #6501410273
(248) 930-2563
Source:
Douglasroserealty
Added: Sep 25
Changed: Nov 3
Last Checked: Nov 4 at 6:47AM
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 Top Agent Realty
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Investment Insights
Based on property information with market context.
A 960-square-foot medical office suite is available within a 5,977-square-foot brick building constructed in 1972. The property has a history of medical and wellness use. Natural gas provides heating, and the site is served by public municipal water and sanitary sewer. Commercial zoning supports office use.
Located at 963 Oakwood Drive in Rochester, the property sits north of University and east of Livernois. Its 0.92-acre site is in the Great Oaks subdivision, within Oakland County.
Located at 963 Oakwood Drive in Rochester, the property sits north of University and east of Livernois. Its 0.92-acre site is in the Great Oaks subdivision, within Oakland County.
Key Highlights
- 960 SF of office space within a 5,977‑square‑foot building
- Built in 1972 with a brick exterior
- 0.92‑acre property in the Great Oaks subdivision
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,576
Suggested Prices Based on Cap Rates
Cap Rate 5%
$411,520
$411.5K
Cap Rate 7%
$293,943
$293.9K
Cap Rate 9%
$228,622
$228.6K
Market Conditions
NOI Build-Up for 5,977 SF
Gross rent
$35.9K $6.00/SF
− Vacancy
−$8.4K −$1.41/SF
EGI
$27.4K $4.59/SF
− OpEx
−$6.9K −$1.15/SF
NOI
$20.6K $3.44/SF
Area
Oakland County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$411,520
Cap Rate 7%
$293,943
Cap Rate 9%
$228,622
Alternative Uses
Best Use
Healthcare Medical
$1.16M
$1.01M – $1.35M
NOI $80,883 @ 7.0% cap · market cap 5,055.19%
Second Best
Office B
$293.9K
$257.2K – $342.9K
NOI $20,576 @ 7.0% cap · market cap 1,286.00%
Theoretical Best
Specialty Retail
$1.29M
$1.13M – $1.50M
NOI $90,243 @ 7.0% cap · market cap 5,640.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,354
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48307, MI
44,673
Population
19,493
Households
2.3
Avg Household Size
39
Median Age
58%
College-Educated
96%
High-School Grad
15.2 sq mi
ZIP Area
2,939
Density / Sq Mi
$105,118
Median Household Income
$61,528
Median Earnings
$1,499
Median Rent
$329,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Hometown Veterinary Hospital — 1432 Walton Blvd., Rochester Hills, MI 48307
Frequently Asked Questions
What type of property is this?
Medical Office Space - A 1972 brick building offers municipal water and sewer service on a 0.92-acre commercial property.
Where is this medical office space located?
The property is located at 963 Oakwood Drive Rochester, MI.
What are key features of this property?
This property features: 960 SF of office space within a 5,977‑square‑foot building; Built in 1972 with a brick exterior; 0.92‑acre property in the Great Oaks subdivision
