Building Details

Year Built 1978

Listing Agency: Atlas Real Estate

Listed By: Dominic Sirignano · License #6501314676 Show Phone

Source: Katie-k

Added: Jul 18 Changed: Oct 10 Last Checked: Oct 7 at 3:40PM

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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 Atlas Real Estate

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Investment Insights

Based on property information with market context.

This 1,620 SF flex property combines a customer-facing front showroom with rear storage featuring high ceilings. The interior also includes a small kitchen and bathroom, creating a practical configuration for showroom, office, service, or specialty retail functions. A recently installed forced-air furnace provides building heat.

The property is located at N 14124 N State Road Unit SourceFi in Otisville, Michigan. Its flexible arrangement and existing improvements provide a straightforward starting point for a range of commercial operations, subject to the applicable use requirements.

Key Highlights

• 1,620 SF flex property with front showroom and rear storage
• Rear storage area includes high ceilings
• New forced‑air furnace provides building heat

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$9,175

Cap Rate

5.74%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$183,500 $183.5K

Cap Rate 7%

$131,071 $131.1K

Cap Rate 9%

$101,944 $101.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,620 SF

Gross rent

$14.6K $9.00/SF

− Vacancy

−$1.5K −$0.91/SF

EGI

$13.1K $8.09/SF

− OpEx

−$3.9K −$2.43/SF

NOI

$9.2K $5.66/SF

Area

Genesee County, MI

Vacancy

10.10%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$183,500

Cap Rate 7%

$131,071

Cap Rate 9%

$101,944

Alternative Uses

Best Use

Retail

$240.2K

$210.2K – $280.3K (±1% cap)

NOI $16,817 @ 7.0% cap · market cap 10.52%

Second Best

Industrial

$131.1K

$114.7K – $152.9K (±1% cap)

NOI $9,175 @ 7.0% cap · market cap 5.74%

Theoretical Best

Office A

$340.9K

$298.3K – $397.7K (±1% cap)

NOI $23,862 @ 7.0% cap · market cap 14.92%

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

Property Analytics

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Current Use

O'Dell's Country Carpet Carpet & Flooring Store The Village Bluebird Home Decor Store

Suggested Use

Top Pick Building Supply Auto Repair Shop HVAC Service Big Box & Wholesale Store Pharmacy Cafe & Coffee Shop

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

12

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 48463, MI

4,423

Population

1,902

Households

2.3

Avg Household Size

49

Median Age

18%

College-Educated

89%

High-School Grad

33.3 sq mi

ZIP Area

133

Density / Sq Mi

$69,893

Median Household Income

$38,451

Median Earnings

$835

Median Rent

$179,000

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Frequently Asked Questions

What type of property is this?

Flex space - Front display space, rear storage, elevated ceilings, a small kitchen, and a bathroom support varied commercial uses.

Where is this flex space located?

The property is located at 14124 N State Rd Otisville, MI.

What is the asking price?

The asking price for this property is $159,900.

What are key features of this property?

This property features: 1,620 SF flex property with front showroom and rear storage; Rear storage area includes high ceilings; New forced‑air furnace provides building heat