Historic Mixed-Use
1 Lafayette Street, Pontiac, MI 48342
For Sale
$8,900,000
Two Saginaw-facing retail spaces and a renovated basement lounge provide distinct commercial components.
Property Size80,000 SF
Price / SF$111.25
Days on Market10
Property Features for 1 Lafayette Street
General Information
Standard status
Size
Additional Details
Liquor License
Building Details
Buildings
Construction
Listing Agency:
Tower Real Estate
(313) 505-3713
Listed By:
Lisa Debs
(248) 649-7200
Source:
Corneliusteam
Added: Oct 30
Changed: Nov 7
Last Checked: Nov 7 at 7:46PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tower Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
In Pontiac’s historic downtown, this masonry building spans just under 80,000 SF of usable area, including a renovated basement lounge. The property was first built as a Masonic building and retains its historic character. Two vacant retail spaces face Saginaw Street, and the property also includes a liquor license. The catering business may be acquired with the property or left out of the transaction.
Key Highlights
- Just under 80,000 SF of usable space, including the renovated basement
- Two vacant retail spaces facing Saginaw Street
- Masonry construction; originally built as a Masonic building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$810,000
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,200,000
$16.2M
Cap Rate 7%
$11,571,429
$11.6M
Cap Rate 9%
$9,000,000
$9.0M
Market Conditions
NOI Build-Up for 80,000 SF
Gross rent
$1.44M $18.00/SF
− Vacancy
−$144.0K −$1.80/SF
EGI
$1.30M $16.20/SF
− OpEx
−$486.0K −$6.07/SF
NOI
$810.0K $10.13/SF
Area
Oakland County, MI
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,200,000
Cap Rate 7%
$11,571,429
Cap Rate 9%
$9,000,000
Alternative Uses
Best Use
Specialty Retail
$17.26M
$15.10M – $20.13M
NOI $1,207,872 @ 7.0% cap · market cap 13.57%
Second Best
Retail
$12.30M
$10.76M – $14.35M
NOI $860,832 @ 7.0% cap · market cap 9.67%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
1,268
Businesses Nearby
Explore this area
Business Placement
Demographics for 48342, MI
18,685
Population
7,559
Households
2.5
Avg Household Size
33
Median Age
10%
College-Educated
76%
High-School Grad
5.2 sq mi
ZIP Area
3,593
Density / Sq Mi
$33,750
Median Household Income
$29,970
Median Earnings
$851
Median Rent
$90,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Mixed-use properties in Oakland County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two Saginaw-facing retail spaces and a renovated basement lounge provide distinct commercial components.
Where is this mixed-use property located?
The property is located at 1 Lafayette Street Pontiac, MI.
What is the asking price?
The asking price for this property is $8,900,000.
What are key features of this property?
This property features: Just under 80,000 SF of usable space, including the renovated basement; Two vacant retail spaces facing Saginaw Street; Masonry construction; originally built as a Masonic building
