Tenant-Occupied Office Condo
For Sale
$30,000
C123-25140 Lahser Rd, Southfield, MI 48033
Tenant-occupied office suite in an established office condominium community, offering convenient access to major Southfield corridors.
Property Size672 SF
Price / SF$44.64
Days on Market93
Property Features for C123-25140 Lahser Rd
General Information
Standard status
Active
Size
672 SF
Taxes and HOA fees
Annual Taxes
$1,364
Listing Agency:
Front Page Properties
(313) 435-8550
Listed By:
Ebony Cochran · License #6501456182
(313) 435-8550
Source:
Exprealty
Added: May 21
Changed: Aug 20
Last Checked: Aug 20 at 12:19PM
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 Front Page Properties
Investment Insights
Based on property information with market context.
Suite C-123 is a tenant-occupied office condo located within the Matterhorn Office Condominium complex. The space offers approximately 672 square feet and is currently generating $900 per month in rental income. This sale includes an office condo configuration within a managed condominium building, with condo association dues reported at approximately $250 per month that may cover certain building or common area expenses.
The property is positioned in Southfield near Lahser Rd, 10 Mile Rd, Telegraph, Northwestern Hwy, and I-696, supporting practical access for clients, staff, and professional service users. The suite is part of the Matterhorn Office Condominium complex at 25140 Lahser Rd.
For investors, this condo presents the advantage of being currently occupied and producing stated rental income, subject to verification of lease terms, taxes, dues, and all material facts. For an owner-user, it offers the option to secure office space inside an established condominium office environment, with buyer and buyer’s agent to confirm permitted uses and remaining lease details. The seller may consider individual suite sales or package offers, and this suite may be available as part of a larger 7-unit office condo portfolio, with all specifics to be confirmed by the buyer’s representative.
The property is positioned in Southfield near Lahser Rd, 10 Mile Rd, Telegraph, Northwestern Hwy, and I-696, supporting practical access for clients, staff, and professional service users. The suite is part of the Matterhorn Office Condominium complex at 25140 Lahser Rd.
For investors, this condo presents the advantage of being currently occupied and producing stated rental income, subject to verification of lease terms, taxes, dues, and all material facts. For an owner-user, it offers the option to secure office space inside an established condominium office environment, with buyer and buyer’s agent to confirm permitted uses and remaining lease details. The seller may consider individual suite sales or package offers, and this suite may be available as part of a larger 7-unit office condo portfolio, with all specifics to be confirmed by the buyer’s representative.
Key Highlights
- Tenant‑occupied office condo suite C‑123 in Matterhorn Office Condominium complex at 25140 Lahser Rd
- Approximately 672 sq ft office space, currently generating $900/month rental income
- Condo association dues are approximately $250/month and may cover certain building/common area expenses (verify coverage)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$2,313
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$46,260
$46.3K
Cap Rate 7%
$33,043
$33.0K
Cap Rate 9%
$25,700
$25.7K
Market Conditions
NOI Build-Up for 672 SF
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.
Gross rent
$4.0K $6.00/SF
− Vacancy
−$948 −$1.41/SF
EGI
$3.1K $4.59/SF
− OpEx
−$771 −$1.15/SF
NOI
$2.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$46,260
Cap Rate 7%
$33,043
Cap Rate 9%
$25,700
Alternative Uses
Best Use
Office B
$33.0K
$28.9K – $38.6K
NOI $2,313 @ 7.0% cap · market cap 7.71%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$144.9K
$126.8K – $169.1K
NOI $10,146 @ 7.0% cap · market cap 33.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
Explore this area
Business Placement
Demographics for 48033, MI
17,207
Population
9,198
Households
1.9
Avg Household Size
47
Median Age
33%
College-Educated
93%
High-School Grad
9.1 sq mi
ZIP Area
1,891
Density / Sq Mi
$55,599
Median Household Income
$45,192
Median Earnings
$1,242
Median Rent
$195,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Tenant-occupied office suite in an established office condominium community, offering convenient access to major Southfield corridors.
Where is this office units located?
The property is located at C123-25140 Lahser Rd Southfield, MI.
What is the asking price?
The asking price for this property is $30,000.
What are key features of this property?
This property features: Tenant‑occupied office condo suite C‑123 in Matterhorn Office Condominium complex at 25140 Lahser Rd; Approximately 672 sq ft office space, currently generating $900/month rental income; Condo association dues are approximately $250/month and may cover certain building/common area expenses (verify coverage)
