Mixed-Use Property with
For Sale
$999,000
5488 RICHFIELD Rd, Flint, MI 48506
Mixed-use property featuring warehouse and retail/office space.
Property Size16,370 SF
Lot Size0.95 Acres
Price / SF$111
Days on Market209
Property Features for 5488 RICHFIELD Rd
General Information
Standard status
Active
Size
16,370 SF
Lot size
0.95 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$18,559
Building Details
Building Size
16,370 SF
Year Built
1993
Listing Agency:
Real Estate by Tremaine
Listed By:
Wyatt Wilson · License #6501397708
(810) 280-1297
Source:
Elliman
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 25 at 9:44AM
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 Real Estate by Tremaine
Investment Insights
Based on property information with market context.
This mixed-use property includes a 9000 square foot warehouse and a 7500 square foot retail/office building. The retail/office building features a large showroom floor, executive offices, four bathrooms, and storage space, with the ability to divide it into suites. The warehouse is fully heated and insulated, measuring 8680 square feet, and includes exterior 12-foot overhead doors, three furnaces, a restroom, LED lighting, a 26x10 loft, hot water, a new roof, new exterior paint, smart security, and smart thermostats. Partition doors allow the space to be separated into three zones. The property also features new roofs on all buildings, new exterior paint, excellent frontage and signage on a class A road with a 9500 daily traffic count, and a concrete parking lot with ample parking space. It is located 2.5 miles from I69.
Key Highlights
- 9000 sqft warehouse and 7500 sqft retail/office space provides ample room for business expansion.
- Excellent frontage and signage on a Class A road with high daily traffic count (9500).
- New roofs on all buildings and new exterior paint enhance property value and curb appeal.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,063
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,721,260
$1.7M
Cap Rate 7%
$1,229,471
$1.2M
Cap Rate 9%
$956,256
$956.3K
Market Conditions
NOI Build-Up for 9,000 SF
Gross rent
$162.0K $18.00/SF
− Vacancy
−$24.3K −$2.70/SF
EGI
$137.7K $15.30/SF
− OpEx
−$51.6K −$5.74/SF
NOI
$86.1K $9.56/SF
Area
Genesee County, MI
Vacancy
15.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,721,260
Cap Rate 7%
$1,229,471
Cap Rate 9%
$956,256
Alternative Uses
Best Use
Office B
$1.42M
$1.24M – $1.65M
NOI $99,147 @ 7.0% cap · market cap 9.92%
Second Best
Retail
$1.33M
$1.17M – $1.56M
NOI $93,428 @ 7.0% cap · market cap 9.35%
Theoretical Best
Office A
$1.89M
$1.66M – $2.21M
NOI $132,569 @ 7.0% cap · market cap 13.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Explore this area
Business Placement
Demographics for 48506, MI
25,069
Population
11,114
Households
2.3
Avg Household Size
39
Median Age
9%
College-Educated
83%
High-School Grad
18.5 sq mi
ZIP Area
1,355
Density / Sq Mi
$44,416
Median Household Income
$31,740
Median Earnings
$897
Median Rent
$91,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property featuring warehouse and retail/office space.
Where is this mixed-use property located?
The property is located at 5488 RICHFIELD Rd Flint, MI.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 9000 sqft warehouse and 7500 sqft retail/office space provides ample room for business expansion.; Excellent frontage and signage on a Class A road with high daily traffic count (9500).; New roofs on all buildings and new exterior paint enhance property value and curb appeal.
