Building Details

Building Size 2,000 SF

Listing Agency: Lee & Associates of Michigan

Listed By: Alex Gravlin Show Phone

Source: Lee-associates

Added: Jun 24 Changed: Oct 13 Last Checked: Oct 16 at 7:02AM

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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 Lee & Associates of Michigan

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Investment Insights

Based on property information with market context.

This office unit offers 2,000 SF of recently refurbished workspace. The property is located at 126 E Main St in Vernon, MI 48476.

Key Highlights

• 2,000 SF office unit
• Recently refurbished
• Located at 126 E Main St, Vernon, MI 48476

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,962

Cap Rate

8.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$399,240 $399.2K

Cap Rate 7%

$285,171 $285.2K

Cap Rate 9%

$221,800 $221.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,000 SF

Gross rent

$34.1K $17.04/SF

− Vacancy

−$7.5K −$3.73/SF

EGI

$26.6K $13.31/SF

− OpEx

−$6.7K −$3.33/SF

NOI

$20.0K $9.98/SF

Area

Shiawassee County, MI

Vacancy

21.90%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$399,240

Cap Rate 7%

$285,171

Cap Rate 9%

$221,800

Alternative Uses

Best Use

Office B

$285.2K

$249.5K – $332.7K (±1% cap)

NOI $19,962 @ 7.0% cap · market cap 8.87%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$381.3K

$333.6K – $444.9K (±1% cap)

NOI $26,691 @ 7.0% cap · market cap 11.86%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Bachmann Vernon Agency Insurance Agency

Suggested Use

Top Pick Auto Repair Shop Auto Parts Store Garden Center Furniture & Home Goods Grocery & Convenience Store Hair Salon

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

54

Businesses Nearby

Explore this area Business Placement

Demographics for 48476, MI

706

Population

267

Households

2.6

Avg Household Size

42

Median Age

12%

College-Educated

92%

High-School Grad

0.7 sq mi

ZIP Area

1,009

Density / Sq Mi

$67,857

Median Household Income

$38,083

Median Earnings

$1,063

Median Rent

$122,200

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

Frequently Asked Questions

What type of property is this?

Office units - Updated office accommodation suited to professional business use.

Where is this office units located?

The property is located at 126 E Main St Vernon, MI.

What is the asking price?

The asking price for this property is $225,000.

What are key features of this property?

This property features: 2,000 SF office unit; Recently refurbished; Located at 126 E Main St, Vernon, MI 48476