Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Downtown Cadillac Office/Retail Space Title is generated by Realmo AI

    117 N Mitchell Street, Cadillac, MI 49601

    View on Map
    Claim this Listing
    For Lease
    $750/Mo $5 SF/Yr (calc)

    Office Building - Cadillac, MI

    Property size:
    1,600 SF
    Added:
    Dec 9, 2024
    Days on Market:
    526
    Last Refresh:
    May 19 at 3:06 am

    Property Features for 117 N Mitchell Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Office,Retail,Commercial
    Bathrooms
    1
    Rooms
    Basement, Bathroom 1
    Basement Y/N
    1
    Standard status
    Active
    Size
    1,600 SF

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Building materials
    Block
    Roof type
    Membrane
    Architectural style
    Other

    We can help!

    Listing Contact
    Greg Bosscher
    Greg Bosscher

    Listing agent Greg Bosscher

    Listing office Five Star Real Estate - Shelby St Cadillac 111 N. Shelby Street, Grand Rapids, MI

    Listing date Dec 9, 2024

    MLS# 1929547 Listing URL

    Copyright © 2026 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime Downtown Cadillac location with Mitchell Street access
    • Flexible 950 sq ft open floor plan suitable for office or retail
    • Barrier‑free elevator access
    • Rear alley access with parking
    • Central air conditioning
    • Basement included

    Overview

    Located in Downtown Cadillac, this property offers a modern space suitable for office or retail use. The 1,600 square foot space features access from Mitchell Street and a rear alley, which also provides parking access. Barrier-free entry is available via an elevator, with an alternative access to the hallway via five steps. The 950 square foot space is designed for flexible use, featuring an open floor plan and a spacious store area. The property's zoning allows for office, retail, and commercial activities. The location is part of the vibrant Downtown Cadillac district.
    Location Intelligence

    Current Use by Public Records

    Intermission Spa & Massage Center Jordan Balkema Elder ... Law Firm Blossoms Clothing Store Cornerstone Staffing Solutions Employment Agency Wexford Physician Hospital ... Medical Clinic

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cadillac
    County
    Wexford
    State
    Michigan
    Longitude
    -85.40024
    Latitude
    44.250799

    Nearby Similar for Lease

    • $850/Mo
      1,247 SF

      Modern Office Spaces in Cadillac

      Newly renovated office spaces in a prime Cadillac location.
      1655 Plett Road, Cadillac, MI 49601
      View Details
    • $2,700/Mo
      6,000 SF

      Cadillac Warehouse Space For Rent

      6000 SF warehouse space available for lease in Cadillac.
      291 Hanthorn Street, Cadillac, MI 49601
      View Details
    • $2,700/Mo
      6,000 SF

      Warehouse Space in Cadillac, MI

      6000 SF warehouse space available for lease.
      291 Hanthorn Street, Cadillac, MI 49601
      View Details
    • $10 SF/Yr
      5,000 SF

      Versatile Retail/Flex Space in Cadillac

      5,000 SF retail/flex space in high-traffic Cadillac shopping district.
      Cadillac, MI 49601
      View Details
    • $750/Mo
      1,600 SF

      Downtown Cadillac Office/Retail Space

      Modern, flexible space in vibrant Downtown Cadillac district.
      117 N Mitchell St., Cadillac, MI 49601
      View Details
    • $850/Mo

      Modern Office Spaces in Cadillac

      Newly renovated office spaces with modern amenities in prime location.
      1655 Plett Rd, Haring, MI 49601
      View Details
    • $600/Mo
      8,436 SF

      Cadillac Office Space For Lease

      Professional office building with individual spaces available for lease.
      2604 Sunnyside Drive, Cadillac, MI 49601
      View Details
    • $850/Mo

      1,247 SF 7 New Modern Office Spaces for Lease - Prime Cadillac Location

      Newly renovated office spaces in a prime Cadillac location.
      1655 Plett Road, Cadillac, MI 49601
      View Details
    • $11 SF/Yr

      Former Rite Aid in Cadillac

      Former Rite Aid available for lease in Cadillac, Michigan.
      720 S Mitchell St, Cadillac, MI 49601
      View Details
    • $11 SF/Yr
      3,730 SF

      Retail Building in Cadillac, MI

      New retail building with easy access and highway commercial zoning.
      201 Teri-Dee Boulevard, Cadillac, MI 49601
      View Details
    • Contact for pricing

      Retail Space in Cadillac, MI

      Prime retail location near Cadillac Lakes and downtown Cadillac.
      602 N Mitchell St, Cadillac, MI 49601
      View Details
    • Contact for pricing

      Retail Space in Cadillac, MI

      Prime retail space with high visibility and ample parking.
      1345 N. Mitchell St, Cadillac, MI 49601
      View Details

    FAQs

    What type of property is this?
    Office units - Modern, flexible office or retail space in vibrant downtown Cadillac.
    Where is this office units located?
    The property is located at 117 N Mitchell Street Cadillac, MI.
    What is the lease rate?
    The lease rate is $750 /Mo.
    What are key features of this property?
    This property features: Prime Downtown Cadillac location with Mitchell Street access; Flexible 950 sq ft open floor plan suitable for office or retail; Barrier‑free elevator access
    (231) 357-2798
    We can help!
    Listing Contact
    Greg Bosscher
    Greg Bosscher
    Real Estate License ID: 6506046948
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    117 N Mitchell Street, Cadillac, MI 49601
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!