Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Charter Drive Office Building Title is generated by Realmo AI

    1055 Charter Dr, Flint, MI 48532

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Office building available for sale in Flint, Michigan.

    Type:Office
    Property size:
    15,700 SF
    Price / SF:
    $133/SF
    Added:
    Sep 13, 2023
    Days on Market:
    984
    Last Refresh:
    Mar 17 at 1:24 pm

    Property Features for 1055 Charter Dr

    General Information

    Standard status
    Active
    Size
    15,700 SF
    Property subtype
    Office

    Building Details

    Year Built
    2003

    We can help!

    Listing Contact
    Joel Kestenberg
    Joel Kestenberg

    Listing agent Joel Kestenberg License #MI 6501393354

    Listing office Friedman Real Estate

    Listing date Sep 13, 2023

    Source Crexi

    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 Friedman Real Estate

    HighLights

    • Available for sale
    • Year built: 2003

    Overview

    An office building is available for sale. The property encompasses a total area of 15,700 square feet and is located on Charter Drive in Flint, Michigan.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $1.92M
    NOI $172,957 @ 9.00% cap · cautious / downside scenario
    Moderate
    $2.47M
    NOI $172,957 @ 7.00% cap · market / base-case scenario
    Aggressive
    $3.46M
    NOI $172,957 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $267.5k $17.04
    − Vacancy −$36.9k −$2.35
    EGI $230.6k $14.69
    − OpEx −$57.7k −$3.67
    NOI $173.0k $11.02
    15,700 SF · lease $17.04/SF/yr · vacancy 13.80% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $2.47M
    $2.16M – $2.88M (±1% cap)
    NOI $172,957 @ 7.0% cap · market cap 8.24%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $3.30M
    $2.89M – $3.85M (±1% cap)
    NOI $231,259 @ 7.0% cap · market cap 11.01%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    MPI Home Care Home Health Care Service Charter Health Care ... College

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Flint
    County
    Genesee
    State
    Michigan
    Longitude
    -83.7689387
    Latitude
    43.0151545

    Nearby Similar for Sale

    • $398,900
      5,100 SF

      Commercial Building on Linden Road

      Commercial building near major highways with existing leases.
      2255 S Linden, Flint, MI 48532
      View Details
    • $450,000
      4,552 SF

      Redevelopment Opportunity in Flint, MI

      4,552 SF commercial building on 1.89 acres for sale.
      5510 Richfield Road, Flint, MI 48506
      View Details
    • $695,000
      9,809 SF

      Fully Leased Office Building

      Pristine office building in prime location with high income.
      5083-5085 Miller, Flint, MI 48507
      View Details
    • $3,500,000
      8,000 SF

      Flint Laundromat and Dry Cleaning Business

      High-volume laundromat and dry cleaning business with real estate included.
      5229 Corunna Road, Flint, MI 48532
      View Details
    • $700,000
      7,959 SF

      Established Barber College in Flint

      Turn-key barber college, ideal for continued educational use.
      3214 Flushing, Flint, MI 48504
      View Details
    • $750,000
      5,109 SF

      Medical Office Building Investment

      Fully leased medical office building near McLaren Hospital.
      3380 Beecher Road, Flint, MI 48532
      View Details
    • $268,000
      3,500 SF

      Flint Commercial/Industrial Opportunity

      3,500 sq ft commercial unit in excellent condition.
      3525 E Court, Flint, MI 48506
      View Details
    • $95,000
      2,800 SF

      Versatile Commercial Building on Corner Lot

      Adaptable 2,800 SF commercial building with high visibility.
      2549 Corunna Road, Flint, MI 48503
      View Details
    • $72,900
      1,014 SF

      Versatile Commercial Building on Fenton

      High-visibility commercial building suitable for various business types.
      3401 Fenton Road, Flint, MI 48507
      View Details
    • $250,000
      2,739 SF

      Historic Building in Flint, MI

      Versatile commercial building with recent renovations and flexible layout.
      1003 Church Street, Flint, MI 48502
      View Details
    • $325,000
      5,742 SF

      Flint Multi-Family Investment Opportunity

      Eight-unit apartment building in Flint, fully rented.
      712 S Grand Traverse, Flint, MI 48502
      View Details
    • $250,000
      8,140 SF

      Restaurant/Retail Opportunity on Dort Highway

      Spacious 8,140 SF building suitable for restaurant or retail use.
      2320 S Dort Highway, Flint, MI 48507
      View Details

    FAQs

    What type of property is this?
    Office building - Office building available for sale in Flint, Michigan.
    Where is this office building located?
    The property is located at 1055 Charter Dr Flint, MI.
    What is the asking price?
    The asking price for this property is $2,100,000.
    What are key features of this property?
    This property features: Available for sale; Year built: 2003
    (248) 330-5286 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Joel Kestenberg
    Joel Kestenberg
    Real Estate License ID: MI 6501393354
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1055 Charter Dr, Flint, MI 48532
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!