Multi-Suite Office
For Sale
Contact for pricing
1000-1028 Professional Drive, Flint, MI 48532
Multiple office suite sizes support immediate occupancy across a flexible commercial configuration.
Property Size10,000 SF
Price / SF$250
Days on Market142
Property Features for 1000-1028 Professional Drive
General Information
Standard status
Active
Size
10,000 SF
Class
B
Property subtype
Office
Building Details
Year Built
1989
Listing Agency:
Farbman Group
(248) 351-4367
Listed By:
Jacob Brown · License #6501461436
Source:
Crexi
Added: Apr 11
Changed: Aug 29
Last Checked: Aug 29 at 3:53PM
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 Farbman Group
Investment Insights
Based on property information with market context.
This office building contains 10,000 square feet and was constructed in 1989. The property is offered for sale with suites ranging from 350 to 2,000 square feet, providing multiple size options within the building.
Located at 1000-1028 Professional Drive in Flint, Michigan, the property includes suites available for immediate occupancy.
Located at 1000-1028 Professional Drive in Flint, Michigan, the property includes suites available for immediate occupancy.
Key Highlights
- 10,000 SF office building offered for sale
- Suites range from 350 to 2,000 square feet
- Suites available for immediate occupancy
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
$110,164
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
4.41%
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%
$2,203,280
$2.2M
Cap Rate 7%
$1,573,771
$1.6M
Cap Rate 9%
$1,224,044
$1.2M
Market Conditions
NOI Build-Up for 10,000 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
$170.4K $17.04/SF
− Vacancy
−$23.5K −$2.35/SF
EGI
$146.9K $14.69/SF
− OpEx
−$36.7K −$3.67/SF
NOI
$110.2K $11.02/SF
Area
Genesee County, MI
Vacancy
13.80%
Lease Rate
$17.04 /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%
$2,203,280
Cap Rate 7%
$1,573,771
Cap Rate 9%
$1,224,044
Alternative Uses
Best Use
Office B
$1.57M
$1.38M – $1.84M
NOI $110,164 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $147,299 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
422
Businesses Nearby
Explore this area
Business Placement
Demographics for 48532, MI
19,247
Population
9,093
Households
2.1
Avg Household Size
43
Median Age
19%
College-Educated
88%
High-School Grad
16.0 sq mi
ZIP Area
1,203
Density / Sq Mi
$58,118
Median Household Income
$34,361
Median Earnings
$929
Median Rent
$157,300
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 - Multiple office suite sizes support immediate occupancy across a flexible commercial configuration.
Where is this office building located?
The property is located at 1000-1028 Professional Drive Flint, MI.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 10,000 SF office building offered for sale; Suites range from 350 to 2,000 square feet; Suites available for immediate occupancy
