One-Story Medical Office
For Sale
$1,990,000
1055 CHARTER DR, Flint, MI 48532
One-story medical office building with four main entryways, multiple reception areas, and ample onsite parking, zoned O-1.
Property Size15,025 SF
Lot Size2.50 Acres
Price / SF$132.45
Days on Market428
Property Features for 1055 CHARTER DR
General Information
Standard status
Active
Size
15,025 SF
Lot size
2.50 Acres
Property subtype
Industrial
Zoning
O-1
Additional Details
Highway Access
Yes
Amenities
Central Air, Dual
3
Carpet, Ceramic
Asphalt, Shingle
215508
Building Details
Year Built
2003
Stories
1
Listing Agency:
Ham Group Realty
Listed By:
Lucy Ham · License #122522
(810) 659-6569
Source:
Xome
Added: Jul 6, 2025
Changed: Sep 2
Last Checked: Sep 5 at 3:51AM
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 Ham Group Realty
Investment Insights
Based on property information with market context.
This one-story medical office building is presented in immaculate condition and is currently operated by the owner as a health care training center. The layout includes four main entryways leading to reception areas, with a sprawling interior configuration offering over 20 offices, reception areas, kitchens, conference/training areas, storage, and a private lunch patio for staff.
The property is located in Flint Charter Township, MI, on landscaped acreage just minutes from I-69 and I-75 and served by a bus line. It sits among established businesses, including a credit union, a senior living center, and physicians’ offices. The building’s zoning is O-1, and the property includes spacious onsite parking.
The property is located in Flint Charter Township, MI, on landscaped acreage just minutes from I-69 and I-75 and served by a bus line. It sits among established businesses, including a credit union, a senior living center, and physicians’ offices. The building’s zoning is O-1, and the property includes spacious onsite parking.
Key Highlights
- 15,000 SF one‑story medical office building built in 2003
- Set on 2.5 landscaped acres with spacious onsite parking
- Four main entryways with reception areas for future leasing possibilities
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
$170,384
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
8.56%
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%
$3,407,680
$3.4M
Cap Rate 7%
$2,434,057
$2.4M
Cap Rate 9%
$1,893,156
$1.9M
Market Conditions
NOI Build-Up for 15,025 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
$324.5K $21.60/SF
− Vacancy
−$40.6K −$2.70/SF
EGI
$284.0K $18.90/SF
− OpEx
−$113.6K −$7.56/SF
NOI
$170.4K $11.34/SF
Area
Genesee County, MI
Vacancy
12.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
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%
$3,407,680
Cap Rate 7%
$2,434,057
Cap Rate 9%
$1,893,156
Alternative Uses
Best Use
Healthcare Medical
$2.43M
$2.13M – $2.84M
NOI $170,384 @ 7.0% cap · market cap 8.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.16M
$2.77M – $3.69M
NOI $221,316 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
474
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical center - One-story medical office building with four main entryways, multiple reception areas, and ample onsite parking, zoned O-1.
Where is this medical center located?
The property is located at 1055 CHARTER DR Flint, MI.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: 15,000 SF one‑story medical office building built in 2003; Set on 2.5 landscaped acres with spacious onsite parking; Four main entryways with reception areas for future leasing possibilities
