Building Details

Building Size 7,230 SF

Year Built 2002

Tenancy Multi

Listing Agency: Thomas A. Duke Company

Listed By: John Porth · License #6501336460 Show Phone

Source: Thomasduke

Added: Apr 4 Changed: Oct 19 Last Checked: Oct 20 at 7:14PM

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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 Thomas A. Duke Company

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Investment Insights

Based on property information with market context.

This multi-tenant office and retail building is configured to support both office and storefront uses within a single property. The offering is marketed as a multi-tenant office/retail building with a West side Michigan Avenue presence in the City of Howell.

The property is located at 1004 Michigan Avenue, Howell, MI, just north of I-96. That positioning provides convenient regional access for prospective tenants and customers.

The building is listed for sale. Additional leasing or unit-specific details were not provided in the available information.

Key Highlights

• Multi‑tenant office and retail building for sale along Michigan Avenue in Howell, MI
• Located on the west side of Michigan Ave., just north of I‑96

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$74,791

Cap Rate

6.65%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,495,820 $1.5M

Cap Rate 7%

$1,068,443 $1.1M

Cap Rate 9%

$831,011 $831.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,230 SF

Gross rent

$130.1K $18.00/SF

− Vacancy

−$23.3K −$3.22/SF

EGI

$106.8K $14.78/SF

− OpEx

−$32.1K −$4.43/SF

NOI

$74.8K $10.34/SF

Area

Livingston County, MI

Vacancy

17.90%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,495,820

Cap Rate 7%

$1,068,443

Cap Rate 9%

$831,011

Alternative Uses

Best Use

Retail

$1.07M

$934.9K – $1.25M (±1% cap)

NOI $74,791 @ 7.0% cap · market cap 6.65%

Second Best

Mixed Use

$766.9K

$671.0K – $894.7K (±1% cap)

NOI $53,683 @ 7.0% cap · market cap 4.77%

Theoretical Best

Healthcare Medical

$1.15M

$1.01M – $1.34M (±1% cap)

NOI $80,614 @ 7.0% cap · market cap 7.17%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Livingston County Farm ... Insurance Agency Frederick Chiropractic Alternative Medicine Practice Diversified Counseling and Consulting ... Counselor Frederick Chiropractic Cln Physician Kelly M. Shuler Psychotherapist

Suggested Use

Top Pick Furniture & Home Goods Storage Facility Locksmith Parking Lot & Garage Carpet & Flooring Store Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

205

Businesses Nearby

Explore this area Business Placement

Demographics for 48843, MI

47,704

Population

19,001

Households

2.5

Avg Household Size

41

Median Age

37%

College-Educated

95%

High-School Grad

89.6 sq mi

ZIP Area

532

Density / Sq Mi

$91,620

Median Household Income

$48,613

Median Earnings

$1,221

Median Rent

$323,100

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - Multi-tenant office and retail building offered for sale along Michigan Avenue in Howell, Michigan.

Where is this office unit located?

The property is located at 1004 Michigan Avenue Howell, MI.

What is the asking price?

The asking price for this property is $1,125,000.

What are key features of this property?

This property features: Multi‑tenant office and retail building for sale along Michigan Avenue in Howell, MI; Located on the west side of Michigan Ave., just north of I‑96