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    43650 Garfield Rd Clinton Township, MI 48038

    Sponsored
    For Lease
    $16 SF/Yr

    Class A Medical Office Building, Macomb County

    Lot size:
    16,783 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This exceptional Class A medical office building, totaling 16,783 square feet, presents a unique investment opportunity in Macomb County. Built in 2004 and renovated in 2020, the two-story building boasts 6 suites, with 5,645 square feet currently vacant. The property features 82 parking spaces, a passenger elevator, and a 9-foot ceiling height. Three spaces are immediately available, ranging from 425 to 5,220 contiguous square feet, all "plug and play" ready for immediate occupancy. Suite 102 offers a fully equipped mobile imaging office with a truck well, private entry, and restroom. Suites 100 & 104 provide up to 13 exam/office rooms, fully furnished and built out, including a large waiting room, private kitchen, entrance, and restroom. The building enjoys high visibility with monument signage on Garfield Road, between Hall Road and 19 Mile Road. Conveniently located across from Henry Ford Hospital, this property offers easy access to hospitals, colleges, restaurants, and shopping. Additional building amenities include a backup generator, sprinkler system, and a private employee entrance and restroom. The property sits on 1.72 acres and is zoned OS-1. This is an ideal location for medical, dental, or other office uses.

    Property Features for 43650 Garfield Rd

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    16,783 SF
    Class
    A
    Total Rate
    22377.33

    Building Details

    Year Built/Renovated
    2004/2020
    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    102 - Mobile Imaging Suite
    Size
    425 SF
    Space
    100 - Plug & Play Medical Office
    Size
    1,660 SF
    Rate per SF
    $16
    Space
    104 - Plug & Play Medical Office
    Size
    3,560 SF
    Rate per SF
    $16

    We can help!

    Listing Contact
    Alex Bieri

    Learn more

    Property Insight Report

    HighLights

    • Class A, 16,783 SF medical office building in Macomb County.
    • 1.72‑acre site with 82 parking spaces.
    • Building features one passenger elevator and 9' ceilings.
    • Currently, 5,645 SF of space is vacant, with suites ranging from 425 SF to 5,220 SF available.
    • Located near Henry Ford Hospital, with high visibility on Garfield Rd, between Hall Rd & 19 Mile Rd.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Clinton Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.95318443049
    Latitude
    42.617017540986

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    FAQs

    What type of property is this?
    Medical office - Class A Medical Office Building, Macomb County
    Where is this medical office located?
    The property is located at 43650 Garfield Rd Clinton Township, MI.
    What is the lease rate?
    The lease rate is $0.00-$16 SF/Yr.
    What are key features of this property?
    This property features: Class A, 16,783 SF medical office building in Macomb County.; 1.72-acre site with 82 parking spaces.; Building features one passenger elevator and 9' ceilings.
    Request Owner's contact information
    43650 Garfield Rd Clinton Township, MI 48038
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    Clinton Township, MI 48038
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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.

    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
    43650 Garfield Rd Clinton Township, MI 48038
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    We can help!
    Listing Contact
    Alex Bieri
    Real Estate License ID: MI 6506046740
    Learn more
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