Pontiac Commercial Building For
For Sale
$200,000
179 EDISON St, Pontiac, MI 48342
Vacant building with potential for residential, retail, office, warehouse.
Property Size4,900 SF
Lot Size0.23 Acres
Price / SF$40.82
Days on Market163
Property Features for 179 EDISON St
General Information
Standard status
Active
Size
4,900 SF
Lot size
0.23 Acres
Property subtype
Commercial
Building Details
Year Built
1927
Listing Agency:
eXp Realty
(248) 242-2182
Listed By:
Norbert Burrows · License #6501333800
(248) 242-2182
Source:
Elliman
Added: Mar 11
Changed: Jul 6
Last Checked: Aug 20 at 9:21AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This vacant building in Pontiac, MI, presents an opportunity for various uses, including residential, retail, office, warehouse, or mixed-use. Situated on a busy intersection with high visibility, the property offers a total of 4900 square feet of space across two floors. The first floor is divided into four sections and includes one restroom. The lower floor provides ample storage space. The building is in good condition and features a newer roof, HVAC system, electrical wiring, and plumbing. Zoned R-1, which is residential, the property could potentially be rezoned back to commercial. Buyer to verify all information.
Key Highlights
- High visibility location on a busy intersection.
- 4900 SF of space across two floors.
- Versatile use options: residential, retail, office, warehouse, or mixed‑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
$16,868
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
8.43%
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%
$337,360
$337.4K
Cap Rate 7%
$240,971
$241.0K
Cap Rate 9%
$187,422
$187.4K
Market Conditions
NOI Build-Up for 4,900 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
$29.4K $6.00/SF
− Vacancy
−$6.9K −$1.41/SF
EGI
$22.5K $4.59/SF
− OpEx
−$5.6K −$1.15/SF
NOI
$16.9K $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%
$337,360
Cap Rate 7%
$240,971
Cap Rate 9%
$187,422
Alternative Uses
Best Use
Retail
$753.2K
$659.1K – $878.8K
NOI $52,726 @ 7.0% cap · market cap 26.36%
Second Best
Mixed Use
$708.8K
$620.2K – $826.9K
NOI $49,613 @ 7.0% cap · market cap 24.81%
Theoretical Best
Specialty Retail
$1.06M
$924.8K – $1.23M
NOI $73,982 @ 7.0% cap · market cap 36.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
321
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
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?
Mixed-use property - Vacant building with potential for residential, retail, office, warehouse.
Where is this mixed-use property located?
The property is located at 179 EDISON St Pontiac, MI.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: High visibility location on a busy intersection.; 4900 SF of space across two floors.; Versatile use options: residential, retail, office, warehouse, or mixed‑use.
