Rebuilt Retail Storefront
For Sale
Contact for pricing
Pending
214 S Broad ST, Holly, MI 48442
Brand-new storefront rebuilt after fire with new insulation, HVAC duct work, electrical, and furnace.
Property Size1,520 SF
Days on Market483
Property Features for 214 S Broad ST
General Information
Standard status
Pending
Size
1,520 SF
Property subtype
Special Purpose
Building Details
Year Built
1900
Listing Agency:
Coldwell Banker Commercial Premier
Listed By:
Darwin Conley · License #MI
Source:
Crexi
Added: May 12, 2025
Changed: Sep 3
Last Checked: Aug 14 at 7:54AM
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 Coldwell Banker Commercial Premier
Investment Insights
Based on property information with market context.
This storefront has been completely gutted, cleaned, and rebuilt due to the Holly Hotel fire, resulting in a brand-new space available for immediate occupancy. Improvements include new insulation, duct work, electrical work, and a new furnace, with construction details shown in the photos. The property was previously the Balcony Books bookstore, and the interior is ready for a tenant to design a retail-oriented layout to suit their business needs.
Located across from Crapo Park, the storefront is within walking distance of downtown Holly’s shops and restaurants. The area is also associated with the Dickens Festival and the historical Battle Alley.
There is also potential to acquire the adjacent space at 216 for expansion, if desired.
Located across from Crapo Park, the storefront is within walking distance of downtown Holly’s shops and restaurants. The area is also associated with the Dickens Festival and the historical Battle Alley.
There is also potential to acquire the adjacent space at 216 for expansion, if desired.
Key Highlights
- Completely gutted and rebuilt after the Holly Hotel fire; brand‑new space for a business storefront
- New insulation, HVAC duct work, electrical, and furnace installed
- Former Balcony Books bookstore location across from Crapo Park
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
$16,356
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
8.18%
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%
$327,120
$327.1K
Cap Rate 7%
$233,657
$233.7K
Cap Rate 9%
$181,733
$181.7K
Market Conditions
NOI Build-Up for 1,520 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
$25.5K $16.80/SF
− Vacancy
−$2.2K −$1.43/SF
EGI
$23.4K $15.37/SF
− OpEx
−$7.0K −$4.61/SF
NOI
$16.4K $10.76/SF
Area
Oakland County, MI
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
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%
$327,120
Cap Rate 7%
$233,657
Cap Rate 9%
$181,733
Alternative Uses
Best Use
Retail
$233.7K
$204.5K – $272.6K
NOI $16,356 @ 7.0% cap · market cap 8.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$327.9K
$286.9K – $382.5K
NOI $22,950 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
15k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar Tree
Shops & Services
9,472 visits/mo
0.5 miles
Marathon
Shops & Services
5,034 visits/mo
0.2 miles
Demographics for 48442, MI
21,803
Population
9,722
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
94%
High-School Grad
85.9 sq mi
ZIP Area
254
Density / Sq Mi
$80,281
Median Household Income
$50,769
Median Earnings
$1,243
Median Rent
$252,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Blumz Florist — 114 S Saginaw St, Holly, MI 48442
Frequently Asked Questions
What type of property is this?
Storefront property - Brand-new storefront rebuilt after fire with new insulation, HVAC duct work, electrical, and furnace.
Where is this storefront property located?
The property is located at 214 S Broad ST Holly, MI.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Completely gutted and rebuilt after the Holly Hotel fire; brand‑new space for a business storefront; New insulation, HVAC duct work, electrical, and furnace installed; Former Balcony Books bookstore location across from Crapo Park
