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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    72 Washington St Oxford, MI 48371

    • Medical offices
    • 19,376 SF
    • 0.26 lot acres
    For Lease
    View listing
    $23 SF/Yr
    Last Sale
    Nov 18, 2020
    $30,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0072351
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Sarah Giroux / Physical Therapist
    • Ascension Providence Rochester - Mammography / Mammography Service
    • Ascension Michigan Urgent Care / Medical Clinic
    • Oshier Lawrence M / Psychologist
    • Hung Cindy K MD / Family Practice Physician

    Property Details for 72 Washington St

    Year built
    2006
    Lot size
    0.26 lot acres
    Property size
    19,376 SF
    Zone code
    BI
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    PO-04-27-230-020
    APU
    PO0427230020

    Description

    This exceptional 1,869 square foot medical office space is situated within the Crittenton Medical Plaza, a Class B building located at 72 S Washington St, Oxford, MI 48371. Built in 2006, this two-story building offers a prime location in Oakland County's Oxford submarket cluster. The suite is immediately available and represents the entire vacant space within the building, offering a unique opportunity for a single tenant to occupy a fully self-contained unit. The minimum divisible space is 1,869 square feet, and the maximum contiguous space available is also 1,869 square feet. The total building size is 19,123 square feet, indicating a well-established medical facility with ample space for multiple tenants. The property's location in Oxford, Michigan provides convenient access to local amenities and a strong patient base. This is an excellent opportunity for a medical practice seeking a move-in ready space in a thriving community. The property is categorized as a multi-tenant building, though this specific suite is currently vacant and available for immediate occupancy. This presents a rare chance to secure a sizable, self-contained medical office space in a desirable location. The property's classification as a Class B building reflects its well-maintained condition and functional design.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,926,000
      Market price range: $1.93M - $4.42M
      AI Estimate
      $922,000
      Market price range: $785k - $3.12M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Oxford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2625
    Latitude
    42.8225
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $25,996
    $0.00
    $0.00
    $554,060
    -
    $0.00
    $0.00
    $1,108,120

    Comparable in this City

    • Value Estimation
      $1,975,000
      19,376 SF

      76 Washington St

      MEDICAL BUILDING • 19,376 SF
      76 Washington St, Oxford, MI 48371-4973
      View Details
    • Value Estimation
      $810,000
      4,135 SF

      834 Lapeer Rd

      MEDICAL BUILDING • 4,135 SF
      834 Lapeer Rd, Oxford, MI 48371-5039
      View Details
    • Value Estimation by Request
      2,800 SF

      129 Washington St

      MEDICAL BUILDING • 2,800 SF
      129 Washington St, Oxford, MI 48371-6436
      View Details
    • Value Estimation by Request
      2,179 SF

      113 Washington St

      MEDICAL BUILDING • 2,179 SF
      113 Washington St, Oxford, MI 48371-4670
      View Details
    • Value Estimation by Request
      1,781 SF

      37 Washington St

      MEDICAL BUILDING • 1,781 SF
      37 Washington St, Oxford, MI 48371-4673
      View Details
    • Value Estimation
      $655,000
      4,475 SF

      91 Washington St

      MEDICAL BUILDING • 4,475 SF
      91 Washington St, Oxford, MI 48371-4979
      View Details

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    Similar Nearby for Lease

    • $23 SF/Yr
      19,123 SF

      Oxford Medical Office Space for Lease

      1,869 SF Medical Office Suite Available
      72 Washington St, Oxford, MI 48371
      View Details
    • Contact for pricing
      3,408 SF

      Oxford Executive Office Suite

      Prime Oxford location, 1,000 sq ft available.
      5 Washington St, Oxford, MI 48371
      View Details
    • $28 SF/Yr
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      Oxford Retail Center Opportunity

      Prime Oxford retail space available.
      565 Lapeer Rd, Oxford, MI 48371
      View Details
    • Contact for pricing
      1,384 SF

      Oxford Meijer Retail Space

      High-traffic in-store retail space.
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      View Details
    • $12 SF/Yr
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      Oxford Mills Retail Center

      High-traffic Oxford, MI shopping center
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      View Details
    • $15 SF/Yr
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      Prime Retail Space, Oakland County

      High-traffic shopping center; spaces available
      158-182 Washington St, Oxford, MI 48371
      View Details
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    Oxford, MI 48371
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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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