Two-Story Office
New
For Sale
$299,000
111 Cass Avenue, Mount Clemens, MI 48043
Renovated professional property supports separate tenant configurations and includes on-site parking.
Property Size3,472 SF
Days on Market5
Property Features for 111 Cass Avenue
General Information
Standard status
Active
Size
3,472 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Asking Price
$299,000
Building Details
Building Size
3,472 SF
Year Built
1900
Year Renovated
2012
Buildings
1
Stories
2
Listing Agency:
Pilot Property Group - Residential LLC
(586) 291-0499
Listed By:
Alexander Termini · License #6501392648
Source:
Thebrokeragehouse
Added: Aug 17
Changed: Aug 21
Last Checked: Aug 21 at 1:41PM
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 Pilot Property Group - Residential LLC
Investment Insights
Based on property information with market context.
This two-story office property combines a first-floor tenancy with flexible upper-level occupancy. The lower level is leased to an established attorney group under a short-term lease, while the second floor is scheduled to be vacant at closing. Multiple entrances support separate occupant arrangements, and the parking lot includes a dedicated private area.
Constructed in 1900 and renovated in 2012, the building pairs historic character with updated functionality. The property is located at 111 Cass Avenue in downtown Mount Clemens, near the Macomb County Court, municipal offices, financial institutions, and regional service businesses. Access to SB Gratiot, I-94, and other regional highways supports connectivity throughout the area.
Constructed in 1900 and renovated in 2012, the building pairs historic character with updated functionality. The property is located at 111 Cass Avenue in downtown Mount Clemens, near the Macomb County Court, municipal offices, financial institutions, and regional service businesses. Access to SB Gratiot, I-94, and other regional highways supports connectivity throughout the area.
Key Highlights
- First‑floor lease to an established attorney group
- Second floor expected to be vacant at closing
- Multiple entrances support separate tenant configurations
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
$11,952
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
4.00%
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%
$239,040
$239.0K
Cap Rate 7%
$170,743
$170.7K
Cap Rate 9%
$132,800
$132.8K
Market Conditions
NOI Build-Up for 3,472 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
$20.8K $6.00/SF
− Vacancy
−$4.9K −$1.41/SF
EGI
$15.9K $4.59/SF
− OpEx
−$4.0K −$1.15/SF
NOI
$12.0K $3.44/SF
Area
Macomb County, MI
Vacancy
23.50%
Lease Rate
$6.00 /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%
$239,040
Cap Rate 7%
$170,743
Cap Rate 9%
$132,800
Alternative Uses
Best Use
Office B
$170.7K
$149.4K – $199.2K
NOI $11,952 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$650.0K
$568.8K – $758.4K
NOI $45,501 @ 7.0% cap · market cap 15.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,333
Businesses Nearby
Explore this area
Business Placement
Demographics for 48043, MI
15,665
Population
7,059
Households
2.2
Avg Household Size
41
Median Age
18%
College-Educated
88%
High-School Grad
4.1 sq mi
ZIP Area
3,821
Density / Sq Mi
$57,315
Median Household Income
$37,683
Median Earnings
$896
Median Rent
$169,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Renovated professional property supports separate tenant configurations and includes on-site parking.
Where is this office building located?
The property is located at 111 Cass Avenue Mount Clemens, MI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: First‑floor lease to an established attorney group; Second floor expected to be vacant at closing; Multiple entrances support separate tenant configurations
