Office Unit with Drive-Through
For Sale
$199,000
101 W Monroe Street, Bangor, MI 49013
COMMERCIAL - Bangor, MI
Property Size1,088 SF
Lot Size0.05 Acres
Price / SF$182.90
Days on Market108
Property Features for 101 W Monroe Street
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Bangor
Middle school district
Bangor
High school district
Bangor
Standard status
Active
APN
80-54-602-001-00
Size
1,088 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
On file.
Tax Annual Amount
5826
Legal Description
On file.
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Amenities
drive-thru access
pylon signage
Building Details
Year built
1976
Floors in Building
1
Number of units
1
Listing Agency:
Kalamazoo Commercial Real Estate
(269) 888-2755
Listed By:
Andrew J Gyorkos · License #6502406462
(269) 888-2755
Added: May 6
Changed: Aug 4
Last Checked: Aug 21 at 7:06AM
MLS# 26020164
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.
Located at 101 W Monroe Street in downtown Bangor, this 1,088-square-foot office unit was built in 1976 and previously operated as a bank. The interior includes one private office, a kitchenette, and one bathroom, with forced-air heating and natural gas available. Drive-thru access and pylon signage add functional features for an office or retail configuration.
A municipal parking lot is positioned behind the building. An Omni Credit Union ATM located behind the property will remain in place and is excluded from the sale. The combination of a compact floor plan, customer-facing access, and existing site features supports continued commercial use.
A municipal parking lot is positioned behind the building. An Omni Credit Union ATM located behind the property will remain in place and is excluded from the sale. The combination of a compact floor plan, customer-facing access, and existing site features supports continued commercial use.
Key Highlights
- 1,088 SF office unit at 101 W Monroe Street in downtown Bangor
- Former bank building with one private office, kitchenette, and one bathroom
- Drive‑thru access and pylon signage included
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
$11,294
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
5.68%
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%
$225,880
$225.9K
Cap Rate 7%
$161,343
$161.3K
Cap Rate 9%
$125,489
$125.5K
Market Conditions
NOI Build-Up for 1,088 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
$16.8K $15.48/SF
− Vacancy
−$707 −$0.65/SF
EGI
$16.1K $14.83/SF
− OpEx
−$4.8K −$4.45/SF
NOI
$11.3K $10.38/SF
Area
Van Buren County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
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%
$225,880
Cap Rate 7%
$161,343
Cap Rate 9%
$125,489
Alternative Uses
Best Use
Retail
$161.3K
$141.2K – $188.2K
NOI $11,294 @ 7.0% cap · market cap 5.68%
Second Best
Office B
$159.3K
$139.4K – $185.9K
NOI $11,152 @ 7.0% cap · market cap 5.60%
Theoretical Best
Multifamily LT 5
$13.45M
$11.77M – $15.70M
NOI $941,705 @ 7.0% cap · market cap 473.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
Explore this area
Business Placement
Demographics for 49013, MI
5,175
Population
2,045
Households
2.5
Avg Household Size
39
Median Age
16%
College-Educated
80%
High-School Grad
57.0 sq mi
ZIP Area
91
Density / Sq Mi
$58,264
Median Household Income
$33,589
Median Earnings
$757
Median Rent
$140,100
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 units - Downtown commercial space includes a private office, kitchenette, restroom, and rear municipal parking.
Where is this office units located?
The property is located at 101 W Monroe Street Bangor, MI.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 1,088 SF office unit at 101 W Monroe Street in downtown Bangor; Former bank building with one private office, kitchenette, and one bathroom; Drive‑thru access and pylon signage included
