17 W Lawrence St Pontiac, MI 48342
17 W Lawrence St, Pontiac, MI, 48342
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For Sale
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Mixed-use properties
Property Size10,000 SF
Price / SF$140
Days on Market726
Property Features for 17 W Lawrence St
General Information
- Standard status
- Active
- Size
- 10,000 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1920
Listing agency
Pike Street Properties
Listed by
Loren Guzik · License #481-012651
Source
Crexi
Added: Jul 26, 2024 Updated: Jul 10 at 11:17AM Checked: Jul 21 at 12:41PM
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.
Key Highlights
- Fully renovated mixed‑use building with rental upside potential through the conversion of two spaces into apartments.
- Diverse income streams from 5 residential apartments, 3 private offices/studios, 2 commercial studios, a retail unit, and 3 basement artist studios.
- New electrical and upgraded plumbing systems ensure reliability and reduce maintenance costs.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $232.8k | $23.28 |
| − Vacancy | −$9.8k | −$0.98 |
| EGI | $223.0k | $22.30 |
| − OpEx | −$100.4k | −$10.04 |
| NOI | $122.7k | $12.27 |
10,000 SF · lease $23.28/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.75M
$1.53M – $2.04M
NOI $122,662 @ 7.0% cap · market cap 8.76%
Second Best
Retail
$1.54M
$1.35M – $1.79M
NOI $107,604 @ 7.0% cap · market cap 7.69%
Theoretical Best
Specialty Retail
$2.16M
$1.89M – $2.52M
NOI $150,984 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
West Alley
Resort
The Pontiac Tribune
Newspaper & Magazine
Magnetic Recording
Recording Studio
Similar For Sale Nearby
FAQs
Where is this mixed-use property located?
The property is located at 17 W Lawrence St Pontiac, MI.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Fully renovated mixed‑use building with rental upside potential through the conversion of two spaces into apartments.; Diverse income streams from 5 residential apartments, 3 private offices/studios, 2 commercial studios, a retail unit, and 3 basement artist studios.; New electrical and upgraded plumbing systems ensure reliability and reduce maintenance costs.
