Renovated Two-Unit Office
For Sale
$349,000
1711 Cass Lake Rd, Keego Harbor, MI 48320
Renovated two-unit office building offering flexible office space in a C-1 zoned property with ample surface parking.
Property Size3,100 SF
Price / SF$112.58
Days on Market321
Property Features for 1711 Cass Lake Rd
General Information
Standard status
Active
Size
3,100 SF
Property subtype
Office
Zoning
O-1
Building Details
Building Size
3,100 SF
Listing Agency:
Colliers
Listed By:
Simon Jonna
(249) 540-1000
Source:
Cpix.resimplifi
Added: Oct 20, 2025
Changed: Aug 27
Last Checked: Sep 4 at 2:05AM
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 Colliers
Investment Insights
Based on property information with market context.
This renovated office building includes two units and totals 3,100 square feet of office space. The property is suited for office uses with flexible layouts that can support a range of professional or medical office configurations.
Zoned C-1, the building is located in Keego Harbor, MI on Cass Lake Road with high visibility. The property is described as having lake views and features excellent signage exposure on Cass Lake Road, with convenient surface parking for staff and clients.
For ownership, the building’s two-unit setup provides a straightforward platform for leasing within a commercially zoned property that is ready for tenant occupancy following renovation.
Zoned C-1, the building is located in Keego Harbor, MI on Cass Lake Road with high visibility. The property is described as having lake views and features excellent signage exposure on Cass Lake Road, with convenient surface parking for staff and clients.
For ownership, the building’s two-unit setup provides a straightforward platform for leasing within a commercially zoned property that is ready for tenant occupancy following renovation.
Key Highlights
- Renovated 3,100 SF office building in Keego Harbor, MI with 2 units
- C‑1 zoned property offering flexible commercial use for office or office‑building investment
- Modern, flexible office layouts suitable for professional or medical use
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
$10,672
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
3.06%
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%
$213,440
$213.4K
Cap Rate 7%
$152,457
$152.5K
Cap Rate 9%
$118,578
$118.6K
Market Conditions
NOI Build-Up for 3,100 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
$18.6K $6.00/SF
− Vacancy
−$4.4K −$1.41/SF
EGI
$14.2K $4.59/SF
− OpEx
−$3.6K −$1.15/SF
NOI
$10.7K $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%
$213,440
Cap Rate 7%
$152,457
Cap Rate 9%
$118,578
Alternative Uses
Best Use
Office B
$152.5K
$133.4K – $177.9K
NOI $10,672 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$668.6K
$585.1K – $780.1K
NOI $46,805 @ 7.0% cap · market cap 13.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
Explore this area
Business Placement
Demographics for 48320, MI
4,328
Population
2,269
Households
1.9
Avg Household Size
45
Median Age
48%
College-Educated
98%
High-School Grad
1.1 sq mi
ZIP Area
3,935
Density / Sq Mi
$77,700
Median Household Income
$45,978
Median Earnings
$1,153
Median Rent
$317,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Renovated two-unit office building offering flexible office space in a C-1 zoned property with ample surface parking.
Where is this office units located?
The property is located at 1711 Cass Lake Rd Keego Harbor, MI.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Renovated 3,100 SF office building in Keego Harbor, MI with 2 units; C‑1 zoned property offering flexible commercial use for office or office‑building investment; Modern, flexible office layouts suitable for professional or medical use
