Remodeled Storefront
For Sale
$495,000
102 Ausable State Rd, Bay City, MI 48706
C-1-zoned commercial space features an open layout, private offices, an overhead door, and a separate storage building.
Property Size5,330 SF
Price / SF$92.87
Days on Market216
Property Features for 102 Ausable State Rd
General Information
Standard status
Active
Size
5,330 SF
Class
A
Total Parking Spaces
17
Property subtype
Retail
Zoning
C-1
Amenities
reception area
two new lavatories
two individual offices
multiple bump-outs
overhead door
security system
keyless entry system
Building Details
Building Size
5,330 SF
Year Built
1950
Stories
1
Listing Agency:
Ayre Rhinehart Bay
(989) 415-2251
Listed By:
Shelley Niedzwiecki · License #BCRA-6501297382
(989) 415-2251
Source:
Cpix.resimplifi
Added: Jan 8
Changed: Aug 11
Last Checked: Aug 12 at 3:17AM
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 Ayre Rhinehart Bay
Investment Insights
Based on property information with market context.
This C-1-zoned storefront property underwent a professional remodel within the last year. The interior combines an open-concept layout with a reception area, two individual offices, two new lavatories, and several bump-outs that can support additional enclosed office areas. An overhead door connects the interior to the exterior, while the separate 1,100-square-foot shed provides substantial storage with two roll-up doors.
The property sits two short blocks from Wilder Road and approximately 2 miles from Downtown Bay City, within a residential neighborhood. Security and keyless-entry systems are also in place. The offering is for the real estate only.
The property sits two short blocks from Wilder Road and approximately 2 miles from Downtown Bay City, within a residential neighborhood. Security and keyless-entry systems are also in place. The offering is for the real estate only.
Key Highlights
- Professional remodel completed within the last year
- C‑1 zoning
- 1,100‑square‑foot storage shed with two roll‑up doors
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
$39,399
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
7.96%
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%
$787,980
$788.0K
Cap Rate 7%
$562,843
$562.8K
Cap Rate 9%
$437,767
$437.8K
Market Conditions
NOI Build-Up for 5,330 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
$64.0K $12.00/SF
− Vacancy
−$7.7K −$1.44/SF
EGI
$56.3K $10.56/SF
− OpEx
−$16.9K −$3.17/SF
NOI
$39.4K $7.39/SF
Area
Bay County, MI
Vacancy
12.00%
Lease Rate
$12.00 /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%
$787,980
Cap Rate 7%
$562,843
Cap Rate 9%
$437,767
Alternative Uses
Best Use
Office B
$723.7K
$633.2K – $844.3K
NOI $50,656 @ 7.0% cap · market cap 10.23%
Second Best
Flex RnD
$713.5K
$624.4K – $832.5K
NOI $49,948 @ 7.0% cap · market cap 10.09%
Theoretical Best
Office A
$964.9K
$844.3K – $1.13M
NOI $67,542 @ 7.0% cap · market cap 13.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
458
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48706, MI
39,381
Population
18,163
Households
2.2
Avg Household Size
45
Median Age
24%
College-Educated
93%
High-School Grad
66.3 sq mi
ZIP Area
594
Density / Sq Mi
$61,908
Median Household Income
$40,151
Median Earnings
$887
Median Rent
$142,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - C-1-zoned commercial space features an open layout, private offices, an overhead door, and a separate storage building.
Where is this storefront property located?
The property is located at 102 Ausable State Rd Bay City, MI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Professional remodel completed within the last year; C‑1 zoning; 1,100‑square‑foot storage shed with two roll‑up doors
