Lapeer County Building For
279 N Court St Lapeer, MI 48446
279 N Court St, Lapeer, MI, 48446
$150,000
Pending
For Sale
$150,000
Pending
Two-level building with potential for two units in downtown Lapeer.
Property Size2,600 SF
Lot Size0.11 Acres
Days on Market130
Property Features for 279 N Court St
General Information
- Standard status
- Pending
- Size
- 2,600 SF
- Lot size
- 0.11 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1968
Listing Agency
Realty Executives Main Street, LLC
(810) 728-6417
Listed by
Brandon K Rowley · License #6501397411
(810) 728-6417
Source
Elliman
Added: Mar 11 Checked: Jul 17 at 7:50 am
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 Realty Executives Main Street, LLC
Investment Insights
Based on property information with market context.
The former Lapeer County Register of Deeds building, constructed in 1968, is available for sale. The property presents business opportunities with a lower and upper level, offering the potential for conversion into a two-unit building. Both levels provide over 2,600 square feet of space. The lower level includes two bathrooms, private offices, and a second entry area on the south side, which is handicap accessible. The upper level features a large, open conference area and an additional private office, with views of the river and park across the street. Three city-owned parking spots are located in front of the building, with a large city-owned parking lot across the street for additional parking. The property is located a short walk from Nepessing Street in downtown.
Key Highlights
- Significant business opportunity in a historically relevant building.
- Potential for conversion into a two‑unit building.
- Over 2,600 sq ft of total space across two levels.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $15.6k | $6.00 |
| − Vacancy | −$3.7k | −$1.41 |
| EGI | $11.9k | $4.59 |
| − OpEx | −$3.0k | −$1.15 |
| NOI | $9.0k | $3.44 |
2,600 SF · lease $6.00/SF/yr · vacancy 23.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$127.9K
$111.9K – $149.2K
NOI $8,951 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$425.8K
$372.6K – $496.7K
NOI $29,804 @ 7.0% cap · market cap 19.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Two-level building with potential for two units in downtown Lapeer.
Where is this office building located?
The property is located at 279 N Court St Lapeer, MI.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Significant business opportunity in a historically relevant building.; Potential for conversion into a two‑unit building.; Over 2,600 sq ft of total space across two levels.
