Milford Office Suites For
For Sale
$169,900
1550 N MILFORD Rd 8 - 9, Milford, MI 48381
Two lower-level office suites with private entrance in Milford.
Property Size1,547 SF
Days on Market119
Property Features for 1550 N MILFORD Rd 8 - 9
General Information
Standard status
Active
Size
1,547 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,775
Building Details
Building Size
1,547 SF
Year Built
2004
Listing Agency:
Havn Real Estate & Appr LLC
(734) 352-1389
Listed By:
Ryan Weston · License #6501375949
(734) 352-1389
Source:
Elliman
Added: Apr 27
Changed: Aug 23
Last Checked: Aug 23 at 5:13AM
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 Havn Real Estate & Appr LLC
Investment Insights
Based on property information with market context.
This commercial property features two lower-level office suites with open floorplans and tall ceilings, located just north of Downtown Milford. Each suite has its own private entrance. One suite has been recently remodeled with new carpeting and interior paint. The second suite is unfinished and currently used for storage, but it could be converted into a second finished suite. Male and female ADA bathrooms are available. The space is suitable for a real estate team, insurance group, lawyer, accountant, or other small business.
Key Highlights
- Prime location just north of Downtown Milford.
- Two lower‑level office suites with private entrance.
- One suite recently remodeled with new carpeting and paint.
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
$5,326
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
3.13%
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%
$106,520
$106.5K
Cap Rate 7%
$76,086
$76.1K
Cap Rate 9%
$59,178
$59.2K
Market Conditions
NOI Build-Up for 1,547 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
$9.3K $6.00/SF
− Vacancy
−$2.2K −$1.41/SF
EGI
$7.1K $4.59/SF
− OpEx
−$1.8K −$1.15/SF
NOI
$5.3K $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%
$106,520
Cap Rate 7%
$76,086
Cap Rate 9%
$59,178
Alternative Uses
Best Use
Office B
$76.1K
$66.6K – $88.8K
NOI $5,326 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$333.7K
$292.0K – $389.3K
NOI $23,357 @ 7.0% cap · market cap 13.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Explore this area
Business Placement
Demographics for 48381, MI
13,794
Population
5,588
Households
2.5
Avg Household Size
45
Median Age
45%
College-Educated
96%
High-School Grad
19.5 sq mi
ZIP Area
707
Density / Sq Mi
$103,156
Median Household Income
$61,929
Median Earnings
$1,146
Median Rent
$386,800
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 units - Two lower-level office suites with private entrance in Milford.
Where is this office units located?
The property is located at 1550 N MILFORD Rd 8 - 9 Milford, MI.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Prime location just north of Downtown Milford.; Two lower‑level office suites with private entrance.; One suite recently remodeled with new carpeting and paint.
