Single-Story Office
For Sale
$1,990,000
1055 Charter Drive, Flint, MI 48532
COM/IND/BUS OPP, Flint, MI
Property Size15,000 SF
Lot Size2.51 Acres
Price / SF$132.45
Days on Market434
Property Features for 1055 Charter Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Professional Office, Commercial
Parking features
Parking Lot
Security features
Security Lighting
Patio and Porch features
Patio
Exterior features
Deck/Patio, Lawn Sprinkler, Security Lighting
Lot features
Bus Service Near Site, Cul-De-Sac, Main Street
Subdivision
Flint Twp (25006)
Standard status
Active
APN
07-16-602-014
Size
15,025 SF
Lot size
2.51 Acres
Taxes and HOA fees
Tax Annual Amount
31961
Utilities
Heating system
Forced Air, Zoned
Cooling system
Zoned, Central Air
Water source
Public
Amenities
conference/training areas
kitchens
private lunch patio
Building Details
Year built
2003
Roof type
Asphalt, Shingle
Listing Agency:
Ham Group Realty
(810) 659-6569
Listed By:
Lucy Ham · License #122522
(888) 960-2842
Added: Jul 8, 2025
Changed: Sep 12
Last Checked: Sep 14 at 12:06PM
MLS# 50181181
Copyright © 2026 Multiple Listing Service MiRealSource. 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.
Built in 2003, this 15,025-square-foot office building occupies 2.51 landscaped acres and is configured for a range of professional operations. The single-story layout includes more than 20 offices, several reception areas, kitchens, conference and training rooms, storage areas, and a private staff patio. Four primary entrances support separate access points throughout the building, while zoned heating and cooling provide environmental control across the interior.
The property is zoned O-1 and currently operates as an owner-occupied health care training center. On-site parking, public water, security lighting, a lawn sprinkler system, and a shingle/asphalt roof are among the existing site and building features. The location provides access to I-69, I-75, and bus service, with a credit union, senior living center, and physicians’ offices identified in the surrounding business area.
The property is zoned O-1 and currently operates as an owner-occupied health care training center. On-site parking, public water, security lighting, a lawn sprinkler system, and a shingle/asphalt roof are among the existing site and building features. The location provides access to I-69, I-75, and bus service, with a credit union, senior living center, and physicians’ offices identified in the surrounding business area.
Key Highlights
- 15,025 SF office building on 2.51 landscaped acres
- More than 20 offices with reception, kitchen, conference, training, and storage areas
- Four main entryways provide separate access points within the building
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
$165,521
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
8.32%
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%
$3,310,420
$3.3M
Cap Rate 7%
$2,364,586
$2.4M
Cap Rate 9%
$1,839,122
$1.8M
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
$256.0K $17.04/SF
− Vacancy
−$35.3K −$2.35/SF
EGI
$220.7K $14.69/SF
− OpEx
−$55.2K −$3.67/SF
NOI
$165.5K $11.02/SF
Area
Genesee County, MI
Vacancy
13.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
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%
$3,310,420
Cap Rate 7%
$2,364,586
Cap Rate 9%
$1,839,122
Alternative Uses
Best Use
Office B
$2.36M
$2.07M – $2.76M
NOI $165,521 @ 7.0% cap · market cap 8.32%
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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 building - Flexible office layout with multiple entry points, reception areas, and on-site parking.
Where is this office building located?
The property is located at 1055 Charter Drive 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: 15,025 SF office building on 2.51 landscaped acres; More than 20 offices with reception, kitchen, conference, training, and storage areas; Four main entryways provide separate access points within the building
