Multi-Tenant Building with Income
For Sale
$1,191,000
1063 W Hill Road, Flint, MI 48507
8,220 sq ft multi-tenant building with excellent curb appeal.
Property Size8,820 SF
Price / SF$144.89
Days on Market652
Property Features for 1063 W Hill Road
General Information
Standard status
Active
Size
8,820 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$21,869
Building Details
Building Size
8,820 SF
Year Built
1989
Listing Agency:
RE/MAX Platinum - Grand Blanc
(810) 344-3363
Listed By:
Scott Myers · License #6506029181
(810) 344-3363
Source:
Phgrealty
Added: Nov 11, 2024
Changed: Aug 23
Last Checked: Aug 24 at 3:18PM
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 RE/MAX Platinum - Grand Blanc
Investment Insights
Based on property information with market context.
This multi-tenant building offers approximately 8,220 square feet of space. The property features three individually metered suites. It is located close to major expressways, providing convenient access. The building offers notable curb appeal and abundant parking. The property presents income potential from additional leased spaces.
Key Highlights
- 8,220 sq ft multi‑tenant building offers significant space and income potential.
- Three individually metered suites provide flexibility for leasing and expense management.
- Abundant parking enhances convenience for tenants and customers.
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
$90,554
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
7.60%
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%
$1,811,080
$1.8M
Cap Rate 7%
$1,293,629
$1.3M
Cap Rate 9%
$1,006,156
$1.0M
Market Conditions
NOI Build-Up for 8,220 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
$140.1K $17.04/SF
− Vacancy
−$19.3K −$2.35/SF
EGI
$120.7K $14.69/SF
− OpEx
−$30.2K −$3.67/SF
NOI
$90.6K $11.02/SF
Area
Genesee County, MI
Vacancy
13.80%
Lease Rate
$17.04 /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%
$1,811,080
Cap Rate 7%
$1,293,629
Cap Rate 9%
$1,006,156
Alternative Uses
Best Use
Office B
$1.29M
$1.13M – $1.51M
NOI $90,554 @ 7.0% cap · market cap 7.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $121,079 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
282
Businesses Nearby
Explore this area
Business Placement
Demographics for 48507, MI
30,149
Population
13,923
Households
2.2
Avg Household Size
37
Median Age
15%
College-Educated
88%
High-School Grad
22.1 sq mi
ZIP Area
1,364
Density / Sq Mi
$47,165
Median Household Income
$31,346
Median Earnings
$923
Median Rent
$101,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - 8,220 sq ft multi-tenant building with excellent curb appeal.
Where is this office building located?
The property is located at 1063 W Hill Road Flint, MI.
What is the asking price?
The asking price for this property is $1,191,000.
What are key features of this property?
This property features: 8,220 sq ft multi‑tenant building offers significant space and income potential.; Three individually metered suites provide flexibility for leasing and expense management.; Abundant parking enhances convenience for tenants and customers.
