Mixed-Use Office
New
For Sale
$1,100,000
107 S Main St, Almont, MI 48003
Upper-level offices offer flexible configuration, two bathrooms, and elevator access.
Property Size4,580 SF
Days on Market2
Property Features for 107 S Main St
General Information
Standard status
Active
Size
4,580 SF
Elevators
Yes
Property subtype
Commercial
Additional Details
Floor
2
Taxes and HOA fees
Annual Taxes
$18,277
Amenities
elevator
Building Details
Building Size
4,580 SF
Year Built
1999
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices Kee Realty Washin
Listed By:
Michele Murphy · License #6506046650
(586) 864-4886
Source:
Elliman
Added: Sep 19
Last Checked: Sep 19 at 2:42PM
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 Berkshire Hathaway HomeServices Kee Realty Washin
Investment Insights
Based on property information with market context.
This mixed-use building includes an upper-level office area currently arranged as two large offices, with the option to reconfigure the space into nine individual offices. The floor also has two bathrooms and elevator service, allowing the area to function as a shared workplace or accommodate a single occupant. The building was constructed in 1999.
The property occupies a corner lot at 107 S Main St in downtown Almont. A restaurant occupies the lower level under a lease, creating an established mixed-use configuration within the building. The site records a bike score of 33, described as somewhat bikeable, and a walk score of 46, described as car-dependent.
The property occupies a corner lot at 107 S Main St in downtown Almont. A restaurant occupies the lower level under a lease, creating an established mixed-use configuration within the building. The site records a bike score of 33, described as somewhat bikeable, and a walk score of 46, described as car-dependent.
Key Highlights
- Upper‑level office area currently configured as two large offices
- Potential layout for nine individual offices
- Two bathrooms on the office level
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
$45,342
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
4.12%
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%
$906,840
$906.8K
Cap Rate 7%
$647,743
$647.7K
Cap Rate 9%
$503,800
$503.8K
Market Conditions
NOI Build-Up for 4,580 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
$82.4K $18.00/SF
− Vacancy
−$9.9K −$2.16/SF
EGI
$72.5K $15.84/SF
− OpEx
−$27.2K −$5.94/SF
NOI
$45.3K $9.90/SF
Area
Lapeer County, MI
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$906,840
Cap Rate 7%
$647,743
Cap Rate 9%
$503,800
Alternative Uses
Best Use
Mixed Use
$647.7K
$566.8K – $755.7K
NOI $45,342 @ 7.0% cap · market cap 4.12%
Second Best
Office B
$225.2K
$197.1K – $262.8K
NOI $15,767 @ 7.0% cap · market cap 1.43%
Theoretical Best
Healthcare Medical
$750.0K
$656.3K – $875.0K
NOI $52,501 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
Explore this area
Business Placement
Demographics for 48003, MI
6,506
Population
2,469
Households
2.6
Avg Household Size
42
Median Age
23%
College-Educated
95%
High-School Grad
33.2 sq mi
ZIP Area
196
Density / Sq Mi
$88,533
Median Household Income
$46,308
Median Earnings
$925
Median Rent
$275,200
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Upper-level offices offer flexible configuration, two bathrooms, and elevator access.
Where is this mixed-use property located?
The property is located at 107 S Main St Almont, MI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Upper‑level office area currently configured as two large offices; Potential layout for nine individual offices; Two bathrooms on the office level
