Turn-Key Retail and Office
For Sale
$449,900
9053 HELENA RD, Alden, MI 49612
Turn-key downtown building with finished upstairs space and separate entrance for flexible second-use operations.
Property Size2,704 SF
Price / SF$166.38
Days on Market112
Property Features for 9053 HELENA RD
General Information
Standard status
Active
Size
2,704 SF
Total Parking Spaces
4
Property subtype
Industrial
Amenities
Central Air
3
Metal
4013239132
Building Details
Year Built
1874
Listing Agency:
Wittbrodt WATERSIDE PROPERTIES
(231) 264-0546
Listed By:
Maria Schneider
(231) 642-7694
Source:
Xome
Added: May 18
Changed: Sep 4
Last Checked: Sep 5 at 4:02AM
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 Wittbrodt WATERSIDE PROPERTIES
Investment Insights
Based on property information with market context.
This one-of-a-kind commercial building combines historic character with modern systems. The main level features original hardwood floors and ship lap wall finishes, with layout flexibility suited to retail, boutique, salon, or gallery concepts. The upper level is a unique former schoolhouse with a separate private entrance that opens to an additional finished space.
Recent improvements include new HVAC, updated electrical, security cameras, new lighting, and fresh paint throughout. The property also includes four private parking spaces for on-site convenience.
For buyers seeking a mixed-use setup, the building’s two finished areas and separate entrance support an owner-operator model or a second tenant arrangement, depending on how the spaces are configured. The combination of turn-key updates and ready-to-use interiors can reduce the time needed to prepare for retail, professional office, studio, or event-style uses.
Recent improvements include new HVAC, updated electrical, security cameras, new lighting, and fresh paint throughout. The property also includes four private parking spaces for on-site convenience.
For buyers seeking a mixed-use setup, the building’s two finished areas and separate entrance support an owner-operator model or a second tenant arrangement, depending on how the spaces are configured. The combination of turn-key updates and ready-to-use interiors can reduce the time needed to prepare for retail, professional office, studio, or event-style uses.
Key Highlights
- Historic building built in 1874 in downtown Alden
- Main level includes original hardwood floors and ship lap walls, suited for retail, boutique, salon, or gallery
- Upstairs former Schoolhouse has a separate private entrance plus additional finished space for a second shop, office, studio, event venue, or workspace
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
$28,070
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
6.24%
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%
$561,400
$561.4K
Cap Rate 7%
$401,000
$401.0K
Cap Rate 9%
$311,889
$311.9K
Market Conditions
NOI Build-Up for 2,704 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
$41.9K $15.48/SF
− Vacancy
−$1.8K −$0.65/SF
EGI
$40.1K $14.83/SF
− OpEx
−$12.0K −$4.45/SF
NOI
$28.1K $10.38/SF
Area
Antrim 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%
$561,400
Cap Rate 7%
$401,000
Cap Rate 9%
$311,889
Alternative Uses
Best Use
Retail
$401.0K
$350.9K – $467.8K
NOI $28,070 @ 7.0% cap · market cap 6.24%
Second Best
Office B
$395.9K
$346.4K – $461.9K
NOI $27,715 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$481.2K
$421.1K – $561.4K
NOI $33,684 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
60
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49612, MI
1,163
Population
864
Households
1.3
Avg Household Size
56
Median Age
48%
College-Educated
97%
High-School Grad
24.9 sq mi
ZIP Area
47
Density / Sq Mi
$84,643
Median Household Income
$45,820
Median Earnings
$858
Median Rent
$252,300
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?
Storefront property - Turn-key downtown building with finished upstairs space and separate entrance for flexible second-use operations.
Where is this storefront property located?
The property is located at 9053 HELENA RD Alden, MI.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Historic building built in 1874 in downtown Alden; Main level includes original hardwood floors and ship lap walls, suited for retail, boutique, salon, or gallery; Upstairs former Schoolhouse has a separate private entrance plus additional finished space for a second shop, office, studio, event venue, or workspace
