Multi-Tenant Office Property in
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1184 Cleaver Rd, Caro, MI 48723
10,647 SF multi-tenant office property in Caro, Michigan.
Property Size10,647 SF
Lot Size1.81 Acres
Price / SF$39.45
Days on Market179
Property Features for 1184 Cleaver Rd
General Information
Standard status
Active
Size
10,647 SF
Lot size
1.81 Acres
Property subtype
Office
Zoning
Office
Occupancy
75%
Lease Type
Gross
Investment Type
Value Add
Net Operating Income
$19,103
Building Details
Year Built
1978
Year Renovated
2022
Buildings
1
Stories
1
Units
9
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Detroit
(248) 415-2612
Listed By:
Paul Kerber · License #6502433613
Source:
Crexi
Added: Feb 23
Changed: Aug 8
Last Checked: Aug 8 at 6:41AM
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 Marcus & Millichap - Detroit
Investment Insights
Based on property information with market context.
This 10,647 square foot, multi-tenant office property is located in Caro, Michigan. Developed in 1978, the single-story Caro Professional Center is situated northeast of the town center, providing access to major roads and nearby amenities such as lunch, retail, and hospitality services. The property is located in Tuscola County, in the eastern part of Michigan's lower peninsula. Caro serves as the county government seat, contributing to the area's economic stability, supported by administrative healthcare, medical services, and other professional companies. The property currently has two State of Michigan leases in place, anchoring the five-tenant rent roll. A 25% vacancy offers potential upside through further lease-up of available suites. The leases are structured in a gross manner, with the landlord responsible for all expenses and building maintenance. Under the same ownership since 1984, the property has been well maintained. The windows were replaced in 2005, and the roof was re-applied with a 30-year rubber membrane in 2007. Over $21,000 has been invested in the HVAC system in the last couple of years. The 1.81-acre site includes 64 parking spaces, including ADA-compliant spots, and the parking lot is re-sealed and striped every three years.
Key Highlights
- Significantly below replacement cost at $39.45/sf.
- Anchored by two State of Michigan leases, providing stable income.
- 25% vacancy offers potential upside through lease‑up.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Explore this area
Business Placement
Demographics for 48723, MI
11,953
Population
5,175
Households
2.3
Avg Household Size
45
Median Age
18%
College-Educated
91%
High-School Grad
131.8 sq mi
ZIP Area
91
Density / Sq Mi
$56,618
Median Household Income
$40,543
Median Earnings
$737
Median Rent
$131,300
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 - 10,647 SF multi-tenant office property in Caro, Michigan.
Where is this office building located?
The property is located at 1184 Cleaver Rd Caro, MI.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Significantly below replacement cost at $39.45/sf.; Anchored by two State of Michigan leases, providing stable income.; 25% vacancy offers potential upside through lease‑up.
