Retail/Office Building with Flexible
5303 S Old US Highway 23 Brighton, MI 48114
5303 S Old US Highway 23, Brighton, MI, 48114
$309,000
For Sale
$309,000
Open interior offers flexibility for a range of retail or office buildouts off Old US 23.
Property Size2,568 SF
Price / SF$120.33
Days on Market637
Property Features for 5303 S Old US Highway 23
General Information
- Standard status
- Active
- Size
- 2,568 SF
- Property subtype
- Office
Building Details
- Year Built
- 1992
Listing agency
Thomas A. Duke Company
(810) 623-3755
Listed by
John K. Porth · License #6501336460
(810) 623-3755
Source
Cpix.resimplifi
Added: Oct 24, 2024 Updated: Jul 21 at 5:36PM Checked: Jul 22 at 2:12AM
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 Thomas A. Duke Company
Investment Insights
Based on property information with market context.
This retail/office building is available for sale and presents an open interior layout that can support a variety of buildouts. The property is described as ready for final touches, offering a straightforward foundation for customization based on the next tenant or owner’s plans.
Located on the east side of Old US 23 between Grand River and Spencer Road, the property benefits from a well-traveled corridor setting. The site also provides easy access to both US 23 and I-96, supporting convenient connections for customers and staff.
With its flexible floorplan and location along a major roadway, the building is suited to users seeking a space that can be finished to match their operational needs, whether retail-facing or office-oriented.
Located on the east side of Old US 23 between Grand River and Spencer Road, the property benefits from a well-traveled corridor setting. The site also provides easy access to both US 23 and I-96, supporting convenient connections for customers and staff.
With its flexible floorplan and location along a major roadway, the building is suited to users seeking a space that can be finished to match their operational needs, whether retail-facing or office-oriented.
Key Highlights
- Retail/office building built in 1992
- Located on the east side of Old US 23 between Grand River and Spencer Road
- Well located on the busy Old US 23 corridor
Local Financial Insights For Retail
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 | $46.2k | $18.00 |
| − Vacancy | −$8.3k | −$3.22 |
| EGI | $37.9k | $14.78 |
| − OpEx | −$11.4k | −$4.43 |
| NOI | $26.6k | $10.34 |
2,568 SF · lease $18.00/SF/yr · vacancy 17.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$379.5K
$332.1K – $442.8K
NOI $26,565 @ 7.0% cap · market cap 8.60%
Second Best
Office B
$126.3K
$110.5K – $147.3K
NOI $8,840 @ 7.0% cap · market cap 2.86%
Theoretical Best
Healthcare Medical
$409.0K
$357.9K – $477.2K
NOI $28,633 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Open interior offers flexibility for a range of retail or office buildouts off Old US 23.
Where is this office building located?
The property is located at 5303 S Old US Highway 23 Brighton, MI.
What is the asking price?
The asking price for this property is $309,000.
What are key features of this property?
This property features: Retail/office building built in 1992; Located on the east side of Old US 23 between Grand River and Spencer Road; Well located on the busy Old US 23 corridor
