Multi-Unit Office Building with
For Sale
$349,900
1711 CASS LAKE RD, Keego Harbor, MI 48320
Office building with separate utilities, multiple private offices, two kitchenettes, two bathrooms, and 13 parking spaces.
Property Size3,100 SF
Price / SF$112.87
Days on Market24
Property Features for 1711 CASS LAKE RD
General Information
Standard status
Active
Size
3,100 SF
Total Parking Spaces
13
Property subtype
Industrial
Zoning
C-1 Local Business
Amenities
3
Asphalt
80100
Building Details
Year Built
19
Tenancy
Multi
Listing Agency:
Max Broock, REALTORS(r)-Birmingham
(248) 917-1290
Listed By:
Ethan Townsend
(248) 917-1290
Source:
Xome
Added: Jul 17
Changed: Aug 8
Last Checked: Aug 9 at 5:37AM
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 Max Broock, REALTORS(r)-Birmingham
Investment Insights
Based on property information with market context.
This office building is set up for flexible, multi-tenant use, with dual-zoned utilities and separate electric meters for the main level and upper level. The interior includes multiple private offices, two bathrooms, and two kitchenettes (one on each level). A full basement with a separate entrance provides additional storage and may support extra leasing opportunities.
Zoned C-1 Local Business and located within the Village Overlay District, the property also includes city water and sewer. Additional features include dual-zoned central air conditioning, a main-level furnace replaced in 2013, and large roadside signage for visibility.
The site offers 13 parking spaces, including one ADA-accessible space, and the roof is described as newer and in excellent condition. The property is within the city’s designated “Green Zone.”
Zoned C-1 Local Business and located within the Village Overlay District, the property also includes city water and sewer. Additional features include dual-zoned central air conditioning, a main-level furnace replaced in 2013, and large roadside signage for visibility.
The site offers 13 parking spaces, including one ADA-accessible space, and the roof is described as newer and in excellent condition. The property is within the city’s designated “Green Zone.”
Key Highlights
- Zoned C‑1 Local Business and located in the Village Overlay District
- Dual‑zoned utilities with separate electric meters for the main level and upper level
- Main‑level furnace replaced in 2013 and dual‑zoned central air conditioning
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
3.05%
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 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$668.6K
$585.1K – $780.1K
NOI $46,805 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
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
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Frequently Asked Questions
What type of property is this?
Office units - Office building with separate utilities, multiple private offices, two kitchenettes, two bathrooms, and 13 parking spaces.
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 $349,900.
What are key features of this property?
This property features: Zoned C‑1 Local Business and located in the Village Overlay District; Dual‑zoned utilities with separate electric meters for the main level and upper level; Main‑level furnace replaced in 2013 and dual‑zoned central air conditioning
