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    Property profile & analytics

    5625 Water Tower Pl City Of The Vlg City of the Village of Clarkston, MI 48346

    • Office Properties & Spaces
    • 45,000 SF
    For Lease
    View listing
    $15 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 5625 Water Tower Pl City Of The Vlg

    Year built
    2002
    Property size
    45,000 SF
    Property type
    Office Properties & Spaces
    Property subtype
    Medical offices

    Description

    This exceptional three-story Class B medical office building, totaling 45,000 square feet, presents a unique investment opportunity in the thriving City of the Village of Clarkston, Michigan. Conveniently located at 5625 Water Tower Place, near the intersection of Dixie Highway and White Lake Road in Oakland County, this property boasts a prime location with excellent visibility and accessibility. Built in 2002 and extensively renovated in 2023, the building offers modern amenities and updated infrastructure. Multiple tenancy options are available, with suites ranging from 805 to 1,600 square feet, ideal for a variety of medical practices or traditional office uses. The building features a 14-foot ceiling height throughout, providing ample space and flexibility for tenant build-outs. Currently undergoing significant improvements, this property is poised to become a premier medical destination, joining established tenants like McLaren Medical and other leading medical professionals. The zip code is 48346. This is an exceptional opportunity to secure space in a newly renovated, high-demand medical office building in a desirable Oakland County location. Don't miss this chance to be part of a thriving medical community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    City of the Village of Clarkston
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4327
    Latitude
    42.7254

    Comparable in this City

    • Value Estimation by Request
      2,200 SF

      6751 Dixie Hwy Vlg

      Medical offices • 2,200 SF
      6751 Dixie Hwy Vlg, Village of Clarkston, MI 48346
      View Details
    • Value Estimation by Request
      22,000 SF

      6001 Cheshire Park Dr Vlg

      Medical offices • 22,000 SF
      6001 Cheshire Park Dr Vlg, Village of Clarkston, MI 48346
      View Details
    • Value Estimation by Request
      22,000 SF

      6001 Cheshire Park Dr Vlg

      Medical offices • 22,000 SF
      6001 Cheshire Park Dr Vlg, Village of Clarkston, MI 48346
      View Details
    • Value Estimation by Request
      45,000 SF

      5625 Water Tower Pl City Of The Vlg

      Medical offices • 45,000 SF
      5625 Water Tower Pl City Of The Vlg, City of the Village of Clarkston, MI 48346
      View Details
    • Value Estimation
      $17,155,000
      138,009 SF

      5701 Bow Pointe Dr

      MEDICAL BUILDING • 138,009 SF
      5701 Bow Pointe Dr, Clarkston, MI 48346-3198
      View Details
    • Value Estimation
      $545,000
      3,261 SF

      55 Main St

      DENTAL BUILDING • 3,261 SF
      55 Main St, Clarkston, MI 48346-1527
      View Details

    Similar Nearby for Sale

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      Clarkston Medical Office Building

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    • $950,000
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      Prime Clarkston Office Space Available

      Pristine office space in desirable Clarkston, near I-75.
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      33,368 SF

      Turn-Key Office and Medical Space

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      Office Retail Build to Suit

      Office retail space available for build to suit opportunity.
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    • $1,250,000
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      Office Investment Property For Sale

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    • $1,650,000
      1.18 Acres

      Dixie Highway Commercial Land

      Two prime parcels, ideal development.
      I-75 City Of The Vlg, City of the Village of Clarkston, MI 48346
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      45,000 SF

      Clarkston Medical Office Space

      Modern Medical Office Suites Available
      5625 Water Tower Pl City Of The Vlg, City of the Village of Clarkston, MI 48346
      View Details
    • $20 SF/Yr
      2,582 SF

      Turn-Key Office and Medical Space

      2,582 SF office/medical space in Clarkston, seconds from I-75.
      6507 Town Center Dr, Clarkston, MI 48346
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    • $21 SF/Yr
      11,000 SF

      Medical/Office Building Near McLaren Clarkston

      Newly built medical/office building, conveniently located near I-75.
      Independence Township, MI 48346
      View Details
    • New
      $3,917 /Mo
      12,226 SF

      Clarkston Medical/Office Suite For Lease

      Professionally managed 2,474 SF medical/office suite available for lease.
      7650 Dixie Hwy, Clarkston, MI 48346
      View Details
    • $1,175 /Mo
      2,663 SF

      Clarkston Commercial Space on Dixie

      Prime commercial lease opportunity in high-traffic Clarkston location.
      5896 Dixie Hwy, Clarkston, MI 48346
      View Details
    • Contact for pricing
      2,847 SF

      Clarkston Office Space for Lease

      Prime Oakland County Office, 2,847 SF Available
      7151 Main St City Of The Vlg, City of the Village of Clarkston, MI 48346
      View Details
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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
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