Two-Story Office
For Sale
$299,000
111 Cass Avenue, Mount Clemens, MI 48043
COM/IND/BUS OPP, Mount Clemens, MI
Property Size3,472 SF
Lot Size0.28 Acres
Price / SF$86.12
Days on Market56
Property Features for 111 Cass Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Main Street
Subdivision
Mt Clemens (50013)
Standard status
Active
APN
05-11-14-210-003
Size
3,472 SF
Lot size
0.28 Acres
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1900
Listing Agency:
Pilot Property Group - Residential LLC
(586) 254-0900
Listed By:
Alexander Termini · License #6501392648
(586) 291-0499
Added: Jul 9
Changed: Aug 19
Last Checked: Sep 2 at 1:06AM
MLS# 50214245
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,472-square-foot office building occupies a 0.28-acre site in downtown Mount Clemens. The two-story layout includes multiple entrances, an on-site parking lot with a designated private area, and a configuration that can support separate occupants. Built in 1900 and renovated in 2012, the property retains historic character while offering forced-air heating and public water service.
The first floor is occupied by an established attorney group under a short-term lease structure, while the upper level is scheduled for delivery vacant at closing. The building’s frontage along Cass Avenue places it near the Macomb County Court, municipal offices, financial institutions, and regional service businesses. Access to SB Gratiot and I-94 further connects the property with surrounding Mount Clemens and Macomb County destinations.
The first floor is occupied by an established attorney group under a short-term lease structure, while the upper level is scheduled for delivery vacant at closing. The building’s frontage along Cass Avenue places it near the Macomb County Court, municipal offices, financial institutions, and regional service businesses. Access to SB Gratiot and I-94 further connects the property with surrounding Mount Clemens and Macomb County destinations.
Key Highlights
- 3,472‑square‑foot office building on a 0.28‑acre site
- Two‑story layout with multiple entrances for separate‑occupant configurations
- First floor occupied by an attorney group under a short‑term lease structure
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,952
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$239,040
$239.0K
Cap Rate 7%
$170,743
$170.7K
Cap Rate 9%
$132,800
$132.8K
Market Conditions
NOI Build-Up for 3,472 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$20.8K $6.00/SF
− Vacancy
−$4.9K −$1.41/SF
EGI
$15.9K $4.59/SF
− OpEx
−$4.0K −$1.15/SF
NOI
$12.0K $3.44/SF
Area
Macomb County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$239,040
Cap Rate 7%
$170,743
Cap Rate 9%
$132,800
Alternative Uses
Best Use
Office B
$170.7K
$149.4K – $199.2K
NOI $11,952 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$650.0K
$568.8K – $758.4K
NOI $45,501 @ 7.0% cap · market cap 15.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,333
Businesses Nearby
Explore this area
Business Placement
Demographics for 48043, MI
15,665
Population
7,059
Households
2.2
Avg Household Size
41
Median Age
18%
College-Educated
88%
High-School Grad
4.1 sq mi
ZIP Area
3,821
Density / Sq Mi
$57,315
Median Household Income
$37,683
Median Earnings
$896
Median Rent
$169,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Renovated professional office property with separate entrances, parking, and a partially leased configuration.
Where is this office building located?
The property is located at 111 Cass Avenue Mount Clemens, MI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 3,472‑square‑foot office building on a 0.28‑acre site; Two‑story layout with multiple entrances for separate‑occupant configurations; First floor occupied by an attorney group under a short‑term lease structure
