Flex Space with Open
New
For Sale
$125,000
106 E Commercial Street, Brooklyn, MI 49230
Commercial Sale, Brooklyn, MI
Property Size1,654 SF
Lot Size0.36 Acres
Price / SF$75.57
Days on Market2
Property Features for 106 E Commercial Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
commercial
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1
Parking
20
Interior features
Broadband
Elementary school district
Napoleon
Middle school district
Napoleon
High school district
Napoleon
Directions
Use GPS
Standard status
Active
APN
095-20-03-126-005-01
Size
1,654 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
THE ELY 22 FT OF LOT 2 & LOT 8 AND ENTIRE LOT 9 IN BLOCK 23 OF NORVELL CITY COMBINED ON 06/18/2018 WITH 095-20-03-126-00
Legal Description
THE ELY 22 FT OF LOT 2 & LOT 8 AND ENTIRE LOT 9 IN BLOCK 23 OF NORVELL CITY COMBINED ON 06/18/2018 WITH 095-20-03-126-00
Utilities
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Water source
Well
Amenities
kitchenette
Building Details
Year built
1894
Floors in Building
1
Number of units
1
Building materials
Vinyl Siding
Roof type
Metal
Listing Agency:
ERA Reardon Realty
(734) 404-8822
Listed By:
Michelle Epperly · License #6506048875
(517) 262-2250
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 6:06PM
MLS# 26046408
Copyright © 2026 Michigan Regional Information Center, LLC. 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.
This 1,654-square-foot flex property occupies a 0.36-acre lot and combines a broad open area with dedicated office space, a kitchenette, and two half baths. Wood floors, central air, forced-air heating, and a basement contribute to the building’s functional interior configuration.
Constructed in 1894, the building features vinyl siding and a metal roof. Broadband service, a well water source, and a septic tank support the property’s basic infrastructure. On-site parking is also available, adding practical convenience for occupants and visitors. The property is located at 106 E Commercial Street in Brooklyn, Michigan.
Constructed in 1894, the building features vinyl siding and a metal roof. Broadband service, a well water source, and a septic tank support the property’s basic infrastructure. On-site parking is also available, adding practical convenience for occupants and visitors. The property is located at 106 E Commercial Street in Brooklyn, Michigan.
Key Highlights
- 1,654 square feet on a 0.36‑acre lot
- Large open area paired with dedicated office space
- Kitchenette and two half baths
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
$11,491
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
9.19%
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%
$229,820
$229.8K
Cap Rate 7%
$164,157
$164.2K
Cap Rate 9%
$127,678
$127.7K
Market Conditions
NOI Build-Up for 1,654 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
$18.3K $11.04/SF
− Vacancy
−$1.8K −$1.12/SF
EGI
$16.4K $9.92/SF
− OpEx
−$4.9K −$2.98/SF
NOI
$11.5K $6.95/SF
Area
Jackson County, MI
Vacancy
10.10%
Lease Rate
$11.04 /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%
$229,820
Cap Rate 7%
$164,157
Cap Rate 9%
$127,678
Alternative Uses
Best Use
Flex RnD
$221.9K
$194.2K – $258.9K
NOI $15,536 @ 7.0% cap · market cap 12.43%
Second Best
Industrial
$164.2K
$143.6K – $191.5K
NOI $11,491 @ 7.0% cap · market cap 9.19%
Theoretical Best
Office A
$264.0K
$231.0K – $308.0K
NOI $18,482 @ 7.0% cap · market cap 14.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49230, MI
10,364
Population
6,108
Households
1.7
Avg Household Size
52
Median Age
27%
College-Educated
96%
High-School Grad
64.0 sq mi
ZIP Area
162
Density / Sq Mi
$81,052
Median Household Income
$52,448
Median Earnings
$1,116
Median Rent
$252,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial layout with office space, kitchenette, two half baths, central air, and on-site parking.
Where is this flex space located?
The property is located at 106 E Commercial Street Brooklyn, MI.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: 1,654 square feet on a 0.36‑acre lot; Large open area paired with dedicated office space; Kitchenette and two half baths
