Office Building on Long
For Sale
$10,000,000
1441 West Long Lake Road, Troy, MI 48098
Office building for sale at 1441 W Long Lake Rd.
Property Size109,234 SF
Days on Market131
Property Features for 1441 West Long Lake Road
General Information
Standard status
Active
Size
109,234 SF
Property subtype
Office
Building Details
Building Size
109,234 SF
Listing Agency:
Newmark | Chicago
(847) 971-5850
Listed By:
Jim Postweiler
(847) 971-5850
Source:
Nmrk
Added: Apr 8
Changed: Aug 16
Last Checked: Aug 16 at 5:06AM
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 Newmark | Chicago
Investment Insights
Based on property information with market context.
The property is located at 1441 West Long Lake Road, Troy, MI 48098. It is an office building and is available for sale.
Key Highlights
- Address: 1441 W Long Lake Rd
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
$376,038
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
3.76%
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%
$7,520,760
$7.5M
Cap Rate 7%
$5,371,971
$5.4M
Cap Rate 9%
$4,178,200
$4.2M
Market Conditions
NOI Build-Up for 109,234 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
$655.4K $6.00/SF
− Vacancy
−$154.0K −$1.41/SF
EGI
$501.4K $4.59/SF
− OpEx
−$125.3K −$1.15/SF
NOI
$376.0K $3.44/SF
Area
Oakland County, MI
Vacancy
23.50%
Lease Rate
$6.00 /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%
$7,520,760
Cap Rate 7%
$5,371,971
Cap Rate 9%
$4,178,200
Alternative Uses
Best Use
Office B
$5.37M
$4.70M – $6.27M
NOI $376,038 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$23.56M
$20.62M – $27.49M
NOI $1,649,259 @ 7.0% cap · market cap 16.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,042
Businesses Nearby
Explore this area
Business Placement
Demographics for 48098, MI
20,349
Population
7,828
Households
2.6
Avg Household Size
46
Median Age
77%
College-Educated
98%
High-School Grad
9.4 sq mi
ZIP Area
2,165
Density / Sq Mi
$165,781
Median Household Income
$83,298
Median Earnings
$1,720
Median Rent
$485,300
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 building - Office building for sale at 1441 W Long Lake Rd.
Where is this office building located?
The property is located at 1441 West Long Lake Road Troy, MI.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: Address: 1441 W Long Lake Rd
