Building Details

Year Built 1988

Stories 1

Construction masonry

Listing Agency: Keller Williams Paint Creek Show Phone

Listed By: Brock Bean · License #6501462328 Show Phone

Source: Exprealty

Added: Sep 30 Changed: Nov 3 Last Checked: Nov 3 at 2:57PM

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Investment Insights

Based on property information with market context.

This single-story medical office condominium contains 1,502 square feet and was fully renovated. Its layout includes a foyer, reception desk, waiting area, and multiple private rooms. The masonry building was constructed in 1988, and the unit carries KI zoning. Building signage is available.

Located at 940 W Avon Rd. in Rochester Hills, the property is part of the Rochester/North Oakland submarket. Unit B11 may be acquired on its own or together with neighboring Unit B10.

Key Highlights

• 1,502‑square‑foot medical office condo, fully renovated
• Foyer, reception desk, waiting area, and multiple private rooms
• Single‑story masonry building constructed in 1988

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,299

Cap Rate

5.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$405,980 $406.0K

Cap Rate 7%

$289,986 $290.0K

Cap Rate 9%

$225,544 $225.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,500 SF

Gross rent

$37.8K $25.20/SF

− Vacancy

−$4.0K −$2.65/SF

EGI

$33.8K $22.55/SF

− OpEx

−$13.5K −$9.02/SF

NOI

$20.3K $13.53/SF

Area

Oakland County, MI

Vacancy

10.50%

Lease Rate

$25.20 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$405,980

Cap Rate 7%

$289,986

Cap Rate 9%

$225,544

Alternative Uses

Best Use

Healthcare Medical

$290.0K

$253.7K – $338.3K (±1% cap)

NOI $20,299 @ 7.0% cap · market cap 5.07%

Second Best

Office B

$73.8K

$64.6K – $86.1K (±1% cap)

NOI $5,164 @ 7.0% cap · market cap 1.29%

Theoretical Best

Specialty Retail

$323.5K

$283.1K – $377.5K (±1% cap)

NOI $22,648 @ 7.0% cap · market cap 5.66%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Parking Lot & Garage Big Box & Wholesale Store (Bike/Boat/Book/etc) Store Grocery & Convenience Store Computer & Electronic Repair Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Office units

Location Intelligence

Trade Area within ½ mile

458

Businesses Nearby

Balanced

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

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - A reception and waiting area, several private rooms, and building signage support a range of medical office operations.

Where is this medical office space located?

The property is located at B11-940 W Avon Rd Rochester Hills, MI.

What is the asking price?

The asking price for this property is $400,000.

What are key features of this property?

This property features: 1,502‑square‑foot medical office condo, fully renovated; Foyer, reception desk, waiting area, and multiple private rooms; Single‑story masonry building constructed in 1988