Building Details

Year Built 2010

Stories 1

Tenancy Single

Listing Agency: Five Star Real Estate - Lansing

Listed By: Evan Wilson · License #6501358511

Source: Crexi

Added: May 19 Changed: Aug 16 Last Checked: Aug 14 at 7:26AM

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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 Five Star Real Estate - Lansing

Investment Insights

Based on property information with market context.

Located at 13215 S US Highway 27 in DeWitt, this commercial property was built in 2010. The well-maintained building offers 2,214 square feet above grade on a 1.74-acre parcel. It benefits from excellent visibility along a high-traffic corridor near I-69 and Lansing. Originally constructed as a bank and currently used as an insurance agency, the property features a professional, well-designed layout suitable for office, medical, or financial users. A fully finished basement with a full bathroom provides additional functional space for offices, storage, or operations. The site offers ample parking, strong frontage, and convenient access. The property is suitable for office, retail, or banking purposes.

Key Highlights

• Prime commercial location with excellent visibility on a high‑traffic corridor near I‑69 and Lansing.
• Well‑maintained 2,214 SF building built in 2010, suitable for office, medical, or financial use.
• 1.74‑acre parcel with ample parking and strong frontage.

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

$24,721

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

2.91%

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%

$494,420 $494.4K

Cap Rate 7%

$353,157 $353.2K

Cap Rate 9%

$274,678 $274.7K

Market Conditions

NOI Build-Up for 2,214 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

$43.8K $19.80/SF

− Vacancy

−$8.5K −$3.85/SF

EGI

$35.3K $15.95/SF

− OpEx

−$10.6K −$4.79/SF

NOI

$24.7K $11.17/SF

Area

Clinton County, MI

Vacancy

19.44%

Lease Rate

$19.80 /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%

$494,420

Cap Rate 7%

$353,157

Cap Rate 9%

$274,678

Alternative Uses

Best Use

Retail

$353.2K

$309.0K – $412.0K (±1% cap)

NOI $24,721 @ 7.0% cap · market cap 2.91%

Second Best

Specialty Retail

$348.2K

$304.7K – $406.3K (±1% cap)

NOI $24,375 @ 7.0% cap · market cap 2.87%

Theoretical Best

Office A

$450.6K

$394.3K – $525.8K (±1% cap)

NOI $31,545 @ 7.0% cap · market cap 3.71%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Office buildings

Suggested Use

Top Pick Dental Office Auto Repair Shop Law Firm Building Supply Big Box & Wholesale Store Restaurant

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

226

Businesses Nearby

Explore this area Business Placement

Demographics for 48820, MI

17,944

Population

7,002

Households

2.6

Avg Household Size

41

Median Age

45%

College-Educated

97%

High-School Grad

65.8 sq mi

ZIP Area

273

Density / Sq Mi

$106,651

Median Household Income

$60,611

Median Earnings

$1,098

Median Rent

$318,400

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

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Frequently Asked Questions

What type of property is this?

Office building - Well-maintained 2,214 SF commercial building on 1.74 acres.

Where is this office building located?

The property is located at 13215 S US Highway 27 Dewitt, MI.

What is the asking price?

The asking price for this property is $849,900.

What are key features of this property?

This property features: Prime commercial location with excellent visibility on a high‑traffic corridor near I‑69 and Lansing.; Well‑maintained 2,214 SF building built in 2010, suitable for office, medical, or financial use.; 1.74‑acre parcel with ample parking and strong frontage.