1455 Lapeer RdOrion Township, MI 48360

Property Details for 1455 Lapeer Rd

Year built

2005

Lot size

5.90 AC

Property size (Sq ft)

65,938 SF

Zone code

BI

Property type

Medical offices

Property subtype

Medical centers

APN

O -09-14-251-019

APU

O0914251019

Description

This exceptional Class A medical office building, totaling 85,000 square feet, presents a unique investment opportunity in the thriving Lake Orion, Michigan market. Located at 1455 S Lapeer Rd, Orion Twp, MI 48360, this two-story, two-building complex boasts 22 suites, with 29,220 square feet currently available. Suite sizes range from a minimum of 539 square feet to a maximum contiguous space of 4,075 square feet, offering flexibility for various medical practices. Built in 2004 and renovated in 2023, the property features ample parking (100 spaces) and elevators for convenient access. The property sits on six acres of land and benefits from excellent visibility on South Lapeer Road (M-24), a major thoroughfare with over 36,000 vehicles daily. Its strategic location, just six miles north of I-75, provides easy access for patients and staff. The surrounding area is a robust retail hub, with over 5.4 million square feet of retail space within a five-mile radius, including major national retailers like Costco, Home Depot, and Target, and is seven miles from the 1.4 million square foot Great Lakes Crossing Mall. The property is zoned for medical use and is situated in a high-growth area with a population of 73,330 within a five-mile radius, boasting an average household income of $133,623 and 26,671 households. This prime location and modern amenities make this property an ideal choice for medical professionals seeking a high-profile presence in a thriving community. Oakland County zoning ensures a stable and supportive environment for medical businesses.

• CAP approach

  CAP return

  Valuation

  6%

  $11,287,790

  6.5%

  $10,419,499

  7%

  $9,675,249

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,167,840

  Geo Method

  $6,167,840

• Alternative Use

  Use

  Valuation

  Residential

  $12,920,179

  Hospitality

  $11,834,814

  Educational

  $9,846,426

  Medical

  $10,185,060

  Retail

  $15,316,663

Location Insight

City

Lake Orion

County

Oakland

State

Michigan

Latitude

42.7603

Longitude

-83.2424

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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