16824 Newburgh Rd

Livonia, MI 48154Office for Sale

Sale Price$1,795,000

Building Size18,301 SF

Lease TypeModified Gross

Cap Rate5.7% on in-place NOI

Property Highlights

$1,795,000 list price · $98.08/SF · 5.7% cap on in-place NOI
18,301 SF two-building medical and general office park
$248,643 in-place annual rental income
Three long-tenured tenants (17-36 years): ADCS Clinics, University Physicians Group, Himm Family Dentistry
All leases include 3% annual escalators
6,530 SF contiguous value-add vacancy (35.7% of building)
Stabilized NOI $214,000 post lease-up (+109%)
Free and clear ownership · Seller land contract financing available
116 parking spaces (6.3 per 1,000 SF)
Year built 1988 · Modified Gross lease structure
Located on Newburgh Road just south of Six Mile
Direct I-275 and I-96 access
Adjacent to Heritage Square, Busch’s, Walgreens, Rite Aid, Big Boy
235,000+ residents within 5 miles · $100,000+ avg household income
Multiple exit paths: hold, lease up, or owner-user conversion