Building Details

Building Size 4,146 SF

Year Built 1882

Buildings 1

Stories 3

Construction Victorian

Listing Agency: NAI Farbman

Listed By: Brandon Ben-Ezra · License #6505136668 Show Phone

Source: Cpix.resimplifi

Added: Feb 26, 2025 Changed: Oct 4 Last Checked: Oct 16 at 5:58AM

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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.

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 / Yr

$50,856

Cap Rate

6.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,017,120 $1.0M

Cap Rate 7%

$726,514 $726.5K

Cap Rate 9%

$565,067 $565.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,146 SF

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 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 (±1% cap)

NOI $50,856 @ 7.0% cap · market cap 6.36%

Second Best

Mixed Use

$599.7K

$524.7K – $699.6K (±1% cap)

NOI $41,978 @ 7.0% cap · market cap 5.25%

Theoretical Best

Specialty Retail

$894.3K

$782.5K – $1.04M (±1% cap)

NOI $62,598 @ 7.0% cap · market cap 7.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

S & W Services Real Estate Agency

Suggested Use

Top Pick Real Estate Agency Law Firm Spa & Massage Center Dental Office Nail Salon Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

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?

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