Fully Leased Pontiac Investment
For Sale
Contact for pricing
16 E Lawrence St, Pontiac, MI 48342
Stabilized, fully leased mixed-use property with diverse tenant mix.
Property Size7,500 SF
Price / SF$110
Days on Market766
Property Features for 16 E Lawrence St
General Information
Standard status
Active
Size
7,500 SF
Class
C
Property subtype
Mixed Use, Multifamily, Office, Retail
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Stabilized
Net Operating Income
$57,720
Building Details
Year Renovated
2020
Buildings
1
Stories
3
Units
7
Tenancy
Multi
Listing Agency:
Pike Street Properties
Listed By:
Loren Guzik · License #481-012651
Source:
Crexi
Added: Sep 4, 2024
Changed: Sep 9
Last Checked: Oct 7 at 11:42AM
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 Pike Street Properties
Investment Insights
Based on property information with market context.
Located in Pontiac, 16 E Lawrence St presents an investment opportunity. This fully leased and stabilized property has undergone a complete gut rehab. The property features a new complete tear-off roof. The boiler has been completely rehabbed with inside and outside thermostat and radiator controls. A new camera security system has been installed. The building has been completely insulated with blown-in insulation. New front and side doors have been added, along with new vertical plumbing. All new appliances, kitchen cabinets, and restrooms have been installed, and the hardwood flooring has been refinished. The property is currently fully occupied, providing cash flow. The diverse tenant mix includes 2 retail tenants on the ground floor and 4 residential units above. The property size is 7500 square feet.
Key Highlights
- Fully leased and stabilized property providing immediate and steady cash flow.
- Comprehensive gut rehab ensures modern standards and quality throughout the building.**
- Diverse tenant mix (2 retail, 4 residential) offers a balanced income stream and reduced risk.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,938
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,518,760
$1.5M
Cap Rate 7%
$1,084,829
$1.1M
Cap Rate 9%
$843,756
$843.8K
Market Conditions
NOI Build-Up for 7,500 SF
Gross rent
$135.0K $18.00/SF
− Vacancy
−$13.5K −$1.80/SF
EGI
$121.5K $16.20/SF
− OpEx
−$45.6K −$6.07/SF
NOI
$75.9K $10.13/SF
Area
Oakland County, MI
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,518,760
Cap Rate 7%
$1,084,829
Cap Rate 9%
$843,756
Alternative Uses
Best Use
Mixed Use
$1.08M
$949.2K – $1.27M
NOI $75,938 @ 7.0% cap · market cap 9.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.62M
$1.42M – $1.89M
NOI $113,238 @ 7.0% cap · market cap 13.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,206
Businesses Nearby
Explore this area
Business Placement
Demographics for 48342, MI
18,685
Population
7,559
Households
2.5
Avg Household Size
33
Median Age
10%
College-Educated
76%
High-School Grad
5.2 sq mi
ZIP Area
3,593
Density / Sq Mi
$33,750
Median Household Income
$29,970
Median Earnings
$851
Median Rent
$90,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Stabilized, fully leased mixed-use property with diverse tenant mix.
Where is this mixed-use property located?
The property is located at 16 E Lawrence St Pontiac, MI.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Fully leased and stabilized property providing immediate and steady cash flow.; Comprehensive gut rehab ensures modern standards and quality throughout the building.**; Diverse tenant mix (2 retail, 4 residential) offers a balanced income stream and reduced risk.
