Renovated Mixed-Use
For Sale
$799,000
1075 Featherstone St, Pontiac, MI 48342
Historic building combines four apartments with a substantial office component.
Property Size4,146 SF
Price / SF$192.72
Days on Market552
Property Features for 1075 Featherstone St
General Information
Standard status
Active
Size
4,146 SF
Property subtype
Office
Zoning
R-1
Units
Unit Mix
3 x studio, 1 x 2BR
Multifamily Units
4
Office Units
1
Additional Details
Gross Income
$42,000
Building Details
Building Size
4,146 SF
Year Built
1882
Buildings
1
Stories
3
Construction
Victorian
Listing Agency:
NAI Farbman
(947) 517-6226
Listed By:
Brandon Ben-Ezra · License #6505136668
(947) 517-6226
Source:
Cpix.resimplifi
Added: Feb 26, 2025
Changed: Aug 29
Last Checked: Aug 29 at 9:16PM
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 NAI Farbman
Investment Insights
Based on property information with market context.
Built in 1882, this renovated mixed-use property at 1075 Featherstone St. combines residential and commercial components within a 4,146-square-foot building. The residential portion includes four apartments: three studios and one two-bedroom unit. A large office suite with several offices adds commercial functionality, creating a combination of apartment and office space in one historic building.
The property is directly across from Amazon's new distribution center and approximately 1 mile from FANUC's 650,000-square-foot headquarters. R-1 zoning is identified for the site.
The property is directly across from Amazon's new distribution center and approximately 1 mile from FANUC's 650,000-square-foot headquarters. R-1 zoning is identified for the site.
Key Highlights
- 4,146‑square‑foot mixed‑use building constructed in 1882
- Four apartments: three studio units and one 2‑bedroom unit
- Large office suite with several offices
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
$50,856
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
6.36%
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%
$1,017,120
$1.0M
Cap Rate 7%
$726,514
$726.5K
Cap Rate 9%
$565,067
$565.1K
Market Conditions
NOI Build-Up for 4,146 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
$96.5K $23.28/SF
− Vacancy
−$4.1K −$0.98/SF
EGI
$92.5K $22.30/SF
− OpEx
−$41.6K −$10.04/SF
NOI
$50.9K $12.27/SF
Area
Oakland County, MI
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,017,120
Cap Rate 7%
$726,514
Cap Rate 9%
$565,067
Alternative Uses
Best Use
Apartment 5plus
$726.5K
$635.7K – $847.6K
NOI $50,856 @ 7.0% cap · market cap 6.36%
Second Best
Mixed Use
$599.7K
$524.7K – $699.6K
NOI $41,978 @ 7.0% cap · market cap 5.25%
Theoretical Best
Specialty Retail
$894.3K
$782.5K – $1.04M
NOI $62,598 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
4
Residential units
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
Explore this area
Business Placement
Demographics for 48342, MI
18,685
Population
7,559
Households
2.5
Avg Household Size
33
Median Age
10%
College-Educated
76%
High-School Grad
5.2 sq mi
ZIP Area
3,593
Density / Sq Mi
$33,750
Median Household Income
$29,970
Median Earnings
$851
Median Rent
$90,600
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?
Mixed-use property - Historic building combines four apartments with a substantial office component.
Where is this mixed-use property located?
The property is located at 1075 Featherstone St Pontiac, MI.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 4,146‑square‑foot mixed‑use building constructed in 1882; Four apartments: three studio units and one 2‑bedroom unit; Large office suite with several offices
