Downtown Holly Antique
For Sale
$325,000
216 S Broad St, Holly, MI 48442
Unique retail building in downtown Holly with themed areas.
Property Size2,700 SF
Lot Size0.08 Acres
Price / SF$120.37
Days on Market164
Property Features for 216 S Broad St
General Information
Standard status
Active
Size
2,700 SF
Lot size
0.08 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,441
Building Details
Building Size
2,700 SF
Year Built
1910
Listing Agency:
Coldwell Banker Professionals
(248) 961-1690
Listed By:
Darwin S Conley · License #6502383103
(248) 961-1690
Source:
Elliman
Added: Mar 10
Changed: Aug 14
Last Checked: Aug 14 at 7:39AM
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 Coldwell Banker Professionals
Investment Insights
Based on property information with market context.
Located in downtown Holly, the Balcony Row Antique Building is available for purchase. Inspired by original balconies on early Holly buildings, this property offers 2700 square feet of space. The building features themed areas with original wood antiquities from around the world. On-street parking is available, along with a large parking lot across the road and two electric vehicle charging spots opposite the property. Nearby landmarks include the Moose Lodge, Crapo Park, and Battle Alley. The building could be used for a variety of business ventures.
Key Highlights
- Unique themed areas with original wood antiquities.
- Boasting 2700 sq ft of space in a downtown location.
- Located in the historic Balcony Row building.
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
$29,053
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
8.94%
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%
$581,060
$581.1K
Cap Rate 7%
$415,043
$415.0K
Cap Rate 9%
$322,811
$322.8K
Market Conditions
NOI Build-Up for 2,700 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
$45.4K $16.80/SF
− Vacancy
−$3.9K −$1.43/SF
EGI
$41.5K $15.37/SF
− OpEx
−$12.5K −$4.61/SF
NOI
$29.1K $10.76/SF
Area
Oakland County, MI
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
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%
$581,060
Cap Rate 7%
$415,043
Cap Rate 9%
$322,811
Alternative Uses
Best Use
Retail
$415.0K
$363.2K – $484.2K
NOI $29,053 @ 7.0% cap · market cap 8.94%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$582.4K
$509.6K – $679.4K
NOI $40,766 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
15k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar Tree
Shops & Services
9,472 visits/mo
0.5 miles
Marathon
Shops & Services
5,034 visits/mo
0.2 miles
Demographics for 48442, MI
21,803
Population
9,722
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
94%
High-School Grad
85.9 sq mi
ZIP Area
254
Density / Sq Mi
$80,281
Median Household Income
$50,769
Median Earnings
$1,243
Median Rent
$252,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Blumz Florist — 114 S Saginaw St, Holly, MI 48442
Frequently Asked Questions
What type of property is this?
Storefront property - Unique retail building in downtown Holly with themed areas.
Where is this storefront property located?
The property is located at 216 S Broad St Holly, MI.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Unique themed areas with original wood antiquities.; Boasting 2700 sq ft of space in a downtown location.; Located in the historic Balcony Row building.
