Medical Office Brick
For Sale
$339,900
S 1146 S Linden Road Unit SourceFi, Flint, MI 48532
One-story medical office with 7 exam rooms, seven offices, and handicap-accessible parking.
Property Size2,703 SF
Price / SF$125.75
Days on Market925
Property Features for S 1146 S Linden Road Unit SourceFi
General Information
Standard status
Active
Size
2,703 SF
Property subtype
Industrial
Zoning
MU
Additional Details
Office Units
7
Amenities
MTA bus route
handicap accessible
central air conditioning
lawn care included
snow removal included
building exterior maintenance included
Central Air
3
Carpet
Asphalt
Building Details
Year Built
1974
Stories
1
Construction
brick
Listing Agency:
Ham Group Realty
(810) 659-6569
Listed By:
Lucy Ham · License #122522
(810) 659-6569
Source:
Xome
Added: Feb 11, 2024
Changed: Aug 23
Last Checked: Jul 17 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 Ham Group Realty
Investment Insights
Based on property information with market context.
Beautiful brick, one-story medical office building with frontage and signage on Linden Rd. The property is set up with 7 exam rooms, 7 offices, and 3 bathrooms, and it includes a handicap-accessible configuration with lots of parking. Additional space includes a 2,700 sq. ft. unfinished lower level that can be finished or used for storage.
Located on the MTA bus route and described as a high-traffic location, the building provides storefront visibility along Linden Rd.
Additional building systems include 2 furnaces and 2 central air units. Ownership is described as maintenance-free, and there is a quarterly condo fee of $2,026 that includes lawn care, snow removal, and building exterior maintenance. The property is zoned commercial—mixed use (MU).
Located on the MTA bus route and described as a high-traffic location, the building provides storefront visibility along Linden Rd.
Additional building systems include 2 furnaces and 2 central air units. Ownership is described as maintenance-free, and there is a quarterly condo fee of $2,026 that includes lawn care, snow removal, and building exterior maintenance. The property is zoned commercial—mixed use (MU).
Key Highlights
- Brick one‑story medical/office building built in 1974 with frontage and signage on Linden Rd.
- Includes 7 exam rooms and 7 offices, plus 3 bathrooms for physician/medical use.
- Lots of parking and handicap‑accessible features.
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
$30,652
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
9.02%
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%
$613,040
$613.0K
Cap Rate 7%
$437,886
$437.9K
Cap Rate 9%
$340,578
$340.6K
Market Conditions
NOI Build-Up for 2,703 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
$58.4K $21.60/SF
− Vacancy
−$7.3K −$2.70/SF
EGI
$51.1K $18.90/SF
− OpEx
−$20.4K −$7.56/SF
NOI
$30.7K $11.34/SF
Area
Genesee County, MI
Vacancy
12.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
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%
$613,040
Cap Rate 7%
$437,886
Cap Rate 9%
$340,578
Alternative Uses
Best Use
Healthcare Medical
$437.9K
$383.2K – $510.9K
NOI $30,652 @ 7.0% cap · market cap 9.02%
Second Best
Office B
$425.4K
$372.2K – $496.3K
NOI $29,777 @ 7.0% cap · market cap 8.76%
Theoretical Best
Office A
$568.8K
$497.7K – $663.6K
NOI $39,815 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Office units
Location Intelligence
Trade Area within ½ mile
551
Businesses Nearby
Explore this area
Business Placement
Demographics for 48532, MI
19,247
Population
9,093
Households
2.1
Avg Household Size
43
Median Age
19%
College-Educated
88%
High-School Grad
16.0 sq mi
ZIP Area
1,203
Density / Sq Mi
$58,118
Median Household Income
$34,361
Median Earnings
$929
Median Rent
$157,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - One-story medical office with 7 exam rooms, seven offices, and handicap-accessible parking.
Where is this office building located?
The property is located at S 1146 S Linden Road Unit SourceFi Flint, MI.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Brick one‑story medical/office building built in 1974 with frontage and signage on Linden Rd.; Includes 7 exam rooms and 7 offices, plus 3 bathrooms for physician/medical use.; Lots of parking and handicap‑accessible features.
