New 2-Unit Duplex
For Sale
$838,800
33802 Au Sable Drive, New Baltimore, MI 48047
Newly built duplex configuration with two separate residential units and model options available for review.
Property Size4,023 SF
Price / SF$208.50
Days on Market581
Property Features for 33802 Au Sable Drive
General Information
Standard status
Active
Size
4,023 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,280
Building Details
Year Built
2025
Buildings
1
Listing Agency:
Casper Phillip Connolly
(248) 563-1195
Listed By:
Casper P Connolly · License #6504130913
(248) 563-1195
Source:
Exitrealty
Added: Jan 27, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:47PM
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 Casper Phillip Connolly
Investment Insights
Based on property information with market context.
This 2025 duplex building contains two residential units within a single structure totaling 4,023 square feet. The property is offered as a made-to-order building, with models available to view before selecting a configuration.
The property is located at 33802 Au Sable Drive in Chesterfield Township, Michigan 48047. Its two-unit layout supports separate occupancy within one building, subject to the buyer’s intended use and applicable requirements.
The property is located at 33802 Au Sable Drive in Chesterfield Township, Michigan 48047. Its two-unit layout supports separate occupancy within one building, subject to the buyer’s intended use and applicable requirements.
Key Highlights
- Two‑unit duplex building
- 4,023 square feet total building area
- Year built: 2025
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
$42,587
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
5.08%
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%
$851,740
$851.7K
Cap Rate 7%
$608,386
$608.4K
Cap Rate 9%
$473,189
$473.2K
Market Conditions
NOI Build-Up for 4,023 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
$65.2K $16.20/SF
− Vacancy
−$4.3K −$1.08/SF
EGI
$60.8K $15.12/SF
− OpEx
−$18.3K −$4.54/SF
NOI
$42.6K $10.59/SF
Area
Macomb County, MI
Vacancy
6.65%
Lease Rate
$16.20 /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%
$851,740
Cap Rate 7%
$608,386
Cap Rate 9%
$473,189
Alternative Uses
Best Use
Multifamily LT 5
$608.4K
$532.3K – $709.8K
NOI $42,587 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$539.7K
$472.3K – $629.7K
NOI $37,781 @ 7.0% cap · market cap 4.50%
Theoretical Best
Specialty Retail
$753.2K
$659.0K – $878.7K
NOI $52,722 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
Explore this area
Business Placement
Demographics for 48047, MI
39,775
Population
16,765
Households
2.4
Avg Household Size
42
Median Age
29%
College-Educated
94%
High-School Grad
18.0 sq mi
ZIP Area
2,210
Density / Sq Mi
$95,381
Median Household Income
$50,151
Median Earnings
$1,109
Median Rent
$297,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Newly built duplex configuration with two separate residential units and model options available for review.
Where is this duplex located?
The property is located at 33802 Au Sable Drive New Baltimore, MI.
What is the asking price?
The asking price for this property is $838,800.
What are key features of this property?
This property features: Two‑unit duplex building; 4,023 square feet total building area; Year built: 2025
