Refurbished Office
For Sale
$225,000
126 E Main St, Vernon, MI 48476
Updated office accommodation suited to professional business use.
Property Size2,000 SF
Days on Market76
Property Features for 126 E Main St
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Retail
Building Details
Building Size
2,000 SF
Listing Agency:
Lee & Associates of Michigan
Listed By:
Alex Gravlin
(734) 664-8500
Source:
Lee-associates
Added: Jun 24
Changed: Sep 4
Last Checked: Sep 7 at 8:22AM
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
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 = 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
$19,962
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
8.87%
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%
$399,240
$399.2K
Cap Rate 7%
$285,171
$285.2K
Cap Rate 9%
$221,800
$221.8K
Market Conditions
NOI Build-Up for 2,000 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
$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 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%
$399,240
Cap Rate 7%
$285,171
Cap Rate 9%
$221,800
Alternative Uses
Best Use
Office B
$285.2K
$249.5K – $332.7K
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
NOI $26,691 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
