Wedding Venue with Banquet
For Sale
$4,700,000
1537 E Pierson Rd, Flushing, MI 48433
Updated commercial property combines event space, restaurant facilities, and front-facing retail or office suites.
Property Size22,592 SF
Lot Size4.36 Acres
Price / SF$208.04
Days on Market561
Property Features for 1537 E Pierson Rd
General Information
Standard status
Active
Size
22,592 SF
Lot size
4.36 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Amenities
banquet hall
Building Details
Year Renovated
2022
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams First
Listed By:
Bahia M Jarrah · License #6501324031
(248) 846-3246
Source:
Metrodetroithomeguide
Added: Apr 5, 2025
Changed: Oct 1
Last Checked: Oct 16 at 9:37AM
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 Keller Williams First
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Investment Insights
Based on property information with market context.
This multi-use commercial property includes a luxury banquet hall configured for weddings, receptions, birthdays, and other upscale social events. The building also contains a former restaurant area that can support fine dining or lounge use, plus four large retail or office suites along the front. Two suites are leased, while two are in the leasing process. Separate utilities and substantial on-site parking support the varied layout, and the property was updated in 2022.
The site encompasses ±4.36 acres with frontage on Pierson and Elms and convenient access to I-75, US-23, and I-69. Commercial zoning accommodates a range of potential applications identified for the property, including restaurant, event venue, retail, office, and medical use. The building contains ±22,592 sq ft and offers prominent signage exposure along a well-traveled corridor.
The site encompasses ±4.36 acres with frontage on Pierson and Elms and convenient access to I-75, US-23, and I-69. Commercial zoning accommodates a range of potential applications identified for the property, including restaurant, event venue, retail, office, and medical use. The building contains ±22,592 sq ft and offers prominent signage exposure along a well-traveled corridor.
Key Highlights
- ±22,592 sq ft multi‑use commercial building on ±4.36 acres
- Luxury banquet hall for weddings, receptions, birthdays, and upscale social events
- Four large front retail/office suites; two leased and two in the process of leasing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$248,882
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,977,640
$5.0M
Cap Rate 7%
$3,555,457
$3.6M
Cap Rate 9%
$2,765,356
$2.8M
Market Conditions
NOI Build-Up for 22,592 SF
Gross rent
$385.0K $17.04/SF
− Vacancy
−$53.1K −$2.35/SF
EGI
$331.8K $14.69/SF
− OpEx
−$83.0K −$3.67/SF
NOI
$248.9K $11.02/SF
Area
Genesee County, MI
Vacancy
13.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,977,640
Cap Rate 7%
$3,555,457
Cap Rate 9%
$2,765,356
Alternative Uses
Best Use
Office B
$3.56M
$3.11M – $4.15M
NOI $248,882 @ 7.0% cap · market cap 5.30%
Second Best
Retail
$3.35M
$2.93M – $3.91M
NOI $234,525 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$4.75M
$4.16M – $5.55M
NOI $332,777 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
Explore this area
Business Placement
Demographics for 48433, MI
26,688
Population
10,597
Households
2.5
Avg Household Size
44
Median Age
29%
College-Educated
95%
High-School Grad
55.5 sq mi
ZIP Area
481
Density / Sq Mi
$81,301
Median Household Income
$45,126
Median Earnings
$982
Median Rent
$197,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Wedding venue - Updated commercial property combines event space, restaurant facilities, and front-facing retail or office suites.
Where is this wedding venue located?
The property is located at 1537 E Pierson Rd Flushing, MI.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: ±22,592 sq ft multi‑use commercial building on ±4.36 acres; Luxury banquet hall for weddings, receptions, birthdays, and upscale social events; Four large front retail/office suites; two leased and two in the process of leasing
