Building Details

Building Size 7,000 SF

Year Built 1970

Listing Agency: Sabuda & Associates LLC

Listed By: Dina E Sabuda · License #6501244553 Show Phone

Source: Elliman

Added: Nov 27, 2025 Changed: Sep 25 Last Checked: Sep 24 at 12:08PM

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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 Sabuda & Associates LLC

Investment Insights

Based on property information with market context.

Located in the village of Pinckney on the south side of M-36, this 7,000 square foot commercial building sits on 1.65 acres. The property is across the street from the Dollar Store and Huntington Bank, offering fantastic visibility. Rite Aid is located to the west, and McDonald's is to the east. The property features a large parking lot in the rear. This well-maintained block building, formerly a fire station, offers multiple options for use. The acreage allows for expansion, additional parking, and storage. The upper level includes office space in two different locations. A lower-level kitchen and a large conference room provide over 2,000 square feet of space. Additional bays and covered storage are also included.

Key Highlights

• 7,000 Sq. Ft Commercial Building on 1.65 Acres in the Village of Pinckney
• High Visibility Location on M‑36**, across from Dollar Store & Huntington Bank
• Large Parking Lot in the Rear

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

$24,098

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

4.02%

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%

$481,960 $482.0K

Cap Rate 7%

$344,257 $344.3K

Cap Rate 9%

$267,756 $267.8K

Market Conditions

NOI Build-Up for 7,000 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

$42.0K $6.00/SF

− Vacancy

−$9.9K −$1.41/SF

EGI

$32.1K $4.59/SF

− OpEx

−$8.0K −$1.15/SF

NOI

$24.1K $3.44/SF

Area

Livingston 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%

$481,960

Cap Rate 7%

$344,257

Cap Rate 9%

$267,756

Alternative Uses

Best Use

Retail

$1.03M

$905.2K – $1.21M (±1% cap)

NOI $72,412 @ 7.0% cap · market cap 12.07%

Second Best

Office B

$344.3K

$301.2K – $401.6K (±1% cap)

NOI $24,098 @ 7.0% cap · market cap 4.02%

Theoretical Best

Healthcare Medical

$1.11M

$975.6K – $1.30M (±1% cap)

NOI $78,049 @ 7.0% cap · market cap 13.01%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Office Units

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm Building Supply Dental Office Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

164

Businesses Nearby

Explore this area Business Placement

Demographics for 48169, MI

20,336

Population

9,045

Households

2.2

Avg Household Size

48

Median Age

39%

College-Educated

98%

High-School Grad

57.7 sq mi

ZIP Area

352

Density / Sq Mi

$108,886

Median Household Income

$58,988

Median Earnings

$1,365

Median Rent

$344,500

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this office units located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Office units - 7,000 SF commercial building on 1.65 acres in Pinckney.

Where is this office units located?

The property is located at 1066 E M 36 Putnam Township, MI.

What is the asking price?

The asking price for this property is $599,900.

What are key features of this property?

This property features: 7,000 Sq. Ft Commercial Building on 1.65 Acres in the Village of Pinckney; High Visibility Location on M‑36**, across from Dollar Store & Huntington Bank; Large Parking Lot in the Rear