Three-Suite Office
For Sale
$1,250,000
4211 Division Avenue N, Comstock Park, MI 49321
Commercial Sale, Comstock Park, MI
Property Size9,884 SF
Lot Size1.54 Acres
Price / SF$126.47
Days on Market195
Property Features for 4211 Division Avenue N
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
O-Office
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 5, Bathroom 1, Bathroom 6, Bathroom 4, Bathroom 2, Bathroom 3
Parking
36
Interior features
Broadband
Elementary school district
Comstock Park
Middle school district
Comstock Park
High school district
Comstock Park
Directions
West River Dr to Division Ave N
Standard status
Active
APN
41-10-31-154-016
Size
9,884 SF
Lot size
1.54 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LL in LO
Tax Annual Amount
23180
Legal Description
LL in LO
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1995
Floors in Building
1
Number of units
3
Listing Agency:
Greenridge Realty (Cascade)
(616) 949-8900
Listed By:
Lance M Tiffany
(616) 262-5488
Added: Mar 16
Changed: Sep 12
Last Checked: Sep 26 at 2:06AM
MLS# 26009951
Copyright © 2026 Michigan Regional Information Center, LLC. 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.
Built in 1995, this 9,884-square-foot office building contains three suites and has been maintained for continued commercial use. Two suites are leased, while a 4,900-square-foot suite remains available. The property also includes an additional 6,000 square feet of storage space, along with central air, forced-air heating, and broadband access.
The 1.54-acre property is located at 4211 Division Avenue N in Comstock Park, Michigan. Its setting across the street from a U of M Health facility provides a clearly identified neighboring healthcare presence, while parking is available across the street. The building’s combination of existing tenancy, available office space, and storage area supports both investment and owner-user consideration.
The 1.54-acre property is located at 4211 Division Avenue N in Comstock Park, Michigan. Its setting across the street from a U of M Health facility provides a clearly identified neighboring healthcare presence, while parking is available across the street. The building’s combination of existing tenancy, available office space, and storage area supports both investment and owner-user consideration.
Key Highlights
- 9,884‑square‑foot office building on 1.54 acres
- Three office suites; two are leased
- 4,900 square feet of office space available
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
$98,759
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
7.90%
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%
$1,975,180
$2.0M
Cap Rate 7%
$1,410,843
$1.4M
Cap Rate 9%
$1,097,322
$1.1M
Market Conditions
NOI Build-Up for 9,884 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
$144.7K $14.64/SF
− Vacancy
−$13.0K −$1.32/SF
EGI
$131.7K $13.32/SF
− OpEx
−$32.9K −$3.33/SF
NOI
$98.8K $9.99/SF
Area
Kent County, MI
Vacancy
9.00%
Lease Rate
$14.64 /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%
$1,975,180
Cap Rate 7%
$1,410,843
Cap Rate 9%
$1,097,322
Alternative Uses
Best Use
Office B
$1.41M
$1.23M – $1.65M
NOI $98,759 @ 7.0% cap · market cap 7.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,747 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
Explore this area
Business Placement
Demographics for 49321, MI
16,764
Population
6,693
Households
2.5
Avg Household Size
36
Median Age
29%
College-Educated
91%
High-School Grad
26.3 sq mi
ZIP Area
637
Density / Sq Mi
$74,691
Median Household Income
$41,855
Median Earnings
$1,073
Median Rent
$244,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Maintained office property with leased suites, available workspace, storage capacity, and parking across from a U of M Health facility.
Where is this office building located?
The property is located at 4211 Division Avenue N Comstock Park, MI.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 9,884‑square‑foot office building on 1.54 acres; Three office suites; two are leased; 4,900 square feet of office space available
