Two-Story Professional Office
For Sale
$299,000
111 Cass Avenue, Mount Clemens, MI 48043
COM/IND/BUS OPP, Mount Clemens, MI
Property Size3,472 SF
Lot Size0.28 Acres
Price / SF$86.12
Days on Market49
Property Features for 111 Cass Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Main Street
Subdivision
Mt Clemens (50013)
Standard status
Active
APN
05-11-14-210-003
Size
3,472 SF
Lot size
0.28 Acres
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1900
Listing Agency:
Pilot Property Group - Residential LLC
(586) 254-0900
Listed By:
Alexander Termini · License #6501392648
(586) 291-0499
Added: Jul 9
Changed: Aug 19
Last Checked: Aug 26 at 9:06PM
MLS# 50214245
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.
This two-story professional office building offers flexible configuration with multiple entrances suitable for dual-tenant setups. The first floor is fully occupied by a long-standing attorney group under a short-term lease structure, providing immediate occupancy. The upper floor will be delivered vacant at closing, supporting an owner-user or expansion scenario. The property totals 3,472 square feet and includes an ample parking lot with a dedicated private area. Built in 1900 and renovated in 2012, it combines historic architectural character with updated functionality.
Located in downtown Mount Clemens, the building features strong street frontage and convenient access to major thoroughfares, including SB Gratiot, with access to I-94 and regional highways. It is positioned near the Macomb County Court, municipal offices, financial institutions, and regional service businesses, supporting day-to-day professional access.
The asset is offered for sale at $299,000.
Located in downtown Mount Clemens, the building features strong street frontage and convenient access to major thoroughfares, including SB Gratiot, with access to I-94 and regional highways. It is positioned near the Macomb County Court, municipal offices, financial institutions, and regional service businesses, supporting day-to-day professional access.
The asset is offered for sale at $299,000.
Key Highlights
- Two‑story professional office building in downtown Mount Clemens with strong street frontage and convenient access to SB Gratiot
- First floor is fully occupied by a long‑standing attorney group under a short‑term lease structure
- Upper floor delivered vacant at closing for an owner‑user or expansion‑minded business
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
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with first-floor tenancy, upper-floor vacancy at closing, and multiple entrances 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: Two‑story professional office building in downtown Mount Clemens with strong street frontage and convenient access to SB Gratiot; First floor is fully occupied by a long‑standing attorney group under a short‑term lease structure; Upper floor delivered vacant at closing for an owner‑user or expansion‑minded business
