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Property profile & analytics
FOR LEASE
Medical Office Space
35046 Woodward Ave, Birmingham, MI 48009
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US43-1346405
For Lease
1 / 23
$2,975,000
35046 Woodward Ave, Birmingham, MI 48009
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Property summary
AI-generated overview
This 2,200 square foot medical office space is located at 35046 Woodward Ave, Birmingham, MI 48009, at the corner of Woodward and Maple. Built in 1984, the building offers a total of 23,000 square feet and features multiple tenancies. This specific suite is immediately available and represents the minimum divisible space within the building, with a maximum contiguous space of 2,200 square feet. The building includes elevators for convenient access. The suite itself includes a lobby reception room measuring 17' x 14', an additional room of 9' x 14', and an exam room. This prime Birmingham location offers excellent visibility and accessibility for medical professionals seeking a well-maintained space in a thriving community. The property is ideal for a variety of medical practices requiring a functional and conveniently sized office. Interested parties should inquire promptly to secure this exceptional opportunity.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1984
Total area
15,277 SF
Lot
0.85 ac (37,026 SF)
Zoning code
BI
APN
08-19-25-483-031
UPID
US43-1346405
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.49M
Blend (final)
Blend
$2.98M
Owner & transaction history
Water Tower Properties · 5 yrs held
Water Tower Properties
since 2021
3 recorded transactions
Zoning & alternative use
BI · Birmingham, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.7M
+11.6%
Restaurant
$2.6M
+9.7%
Retail stores
$2.6M
+6.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Birmingham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Birmingham submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,410,000
Current use
COMMERCIAL (GENERAL)
$2,690,000
Change: +12% · Conversion: Easy
RESTAURANT
$2,645,000
Change: +10% · Conversion: Difficult
RETAIL STORES
$2,580,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$2.98M
Range $2.68M – $3.27M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$195 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$106,456
Tax year 2023
Assessed value
$3,832,650
Assessed 2024
Previous assessed
$3,645,220
+5.1% YoY
Effective rate
2.78%
On assessed value
Total market value
$7,665,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1984
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Units
1
Total area
15,277 SF
Lot
0.85 ac (37,026 SF)
Zoning code
BI
APN
08-19-25-483-031
UPID
US43-1346405
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Birmingham, MI
Zoning BI · permitted uses
BI · Birmingham, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Birmingham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$2.7M
RESTAURANT
Est. value
$2.6M
RETAIL STORES
Est. value
$2.6M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1984
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
0.85 ac
Current owner
From public records · entity-resolved
Water Tower Properties
Entity
Mailing address
4518 S PO BOX 2079TH ST, BIRMINGHAM, MI 48012-2079
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2021
—
Water Tower Properties
Bottle & Basket Of Birmingham Mob L
Quit Claim Deed
related
—
Feb 3, 2021
—
Bottle & Basket Of Birmingham LLC
—
Deed
related
$5,500,000 · Huron Valley State Bank
Dec 1, 2008
—
Bottle & Basket Of Birmingham INC
—
Deed Of Trust
related
$5,325,000 · Comerica Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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