Office Unit With Private
New
For Sale
$325,000
162 S Industrial Dr, Saline, MI 48176
Finished office condominium with flexible workspace, natural light, ADA-compliant restroom, and convenient at-the-door parking.
Property Size1,750 SF
Price / SF$185.71
Days on Market7
Property Features for 162 S Industrial Dr
General Information
Standard status
Active
Size
1,750 SF
Class
C
Total Parking Spaces
45
Property subtype
Office
Zoning
SPA - 1
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
1,750 SF
Year Renovated
2020
Buildings
1
Stories
1
Listing Agency:
Swisher Commercial
(734) 904-3521
Listed By:
Tony Caprarese · License #6501314902
(734) 904-3521
Source:
Cpix.resimplifi
Added: Aug 6
Changed: Aug 12
Last Checked: Aug 12 at 3:44AM
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 Swisher Commercial
Investment Insights
Based on property information with market context.
This 1,750 SF office condominium combines five private offices with a large open work area, reception space, kitchenette, file/copy room, utility room, and an ADA-compliant restroom. Natural wood trim and numerous windows contribute to a finished interior with abundant natural light. The configuration supports professional, administrative, medical, financial, and service-oriented office uses.
The unit is located within the Gateway Office Center and has frontage on Michigan Avenue. At-the-door parking provides direct convenience for occupants and visitors. Positioned just off US-12, the property offers access to downtown Saline, Ann Arbor, US-23, and surrounding Washtenaw County communities. The property is zoned SPA-1.
The unit is located within the Gateway Office Center and has frontage on Michigan Avenue. At-the-door parking provides direct convenience for occupants and visitors. Positioned just off US-12, the property offers access to downtown Saline, Ann Arbor, US-23, and surrounding Washtenaw County communities. The property is zoned SPA-1.
Key Highlights
- 1,750 SF office condominium in Gateway Office Center
- Five private offices plus a large open office area
- Reception area, kitchenette, file/copy room, and utility room
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
$26,996
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
8.31%
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%
$539,920
$539.9K
Cap Rate 7%
$385,657
$385.7K
Cap Rate 9%
$299,956
$300.0K
Market Conditions
NOI Build-Up for 1,750 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
$42.0K $24.00/SF
− Vacancy
−$6.0K −$3.43/SF
EGI
$36.0K $20.57/SF
− OpEx
−$9.0K −$5.14/SF
NOI
$27.0K $15.43/SF
Area
Washtenaw County, MI
Vacancy
14.30%
Lease Rate
$24.00 /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%
$539,920
Cap Rate 7%
$385,657
Cap Rate 9%
$299,956
Alternative Uses
Best Use
Office B
$385.7K
$337.5K – $449.9K
NOI $26,996 @ 7.0% cap · market cap 8.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$514.2K
$449.9K – $599.9K
NOI $35,994 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
206
Businesses Nearby
Explore this area
Business Placement
Demographics for 48176, MI
22,833
Population
9,076
Households
2.5
Avg Household Size
44
Median Age
58%
College-Educated
96%
High-School Grad
70.8 sq mi
ZIP Area
323
Density / Sq Mi
$110,987
Median Household Income
$53,263
Median Earnings
$1,161
Median Rent
$384,700
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 - Finished office condominium with flexible workspace, natural light, ADA-compliant restroom, and convenient at-the-door parking.
Where is this office units located?
The property is located at 162 S Industrial Dr Saline, MI.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,750 SF office condominium in Gateway Office Center; Five private offices plus a large open office area; Reception area, kitchenette, file/copy room, and utility room
