Two-Story Office Building with
For Sale
$799,999
18600 Florence Street, Roseville, MI 48066
Suite-based office property with included utilities, on-site parking, and immediate interstate access.
Property Size9,436 SF
Price / SF$57.09
Days on Market39
Property Features for 18600 Florence Street
General Information
Standard status
Active
Size
9,436 SF
Class
Class C
Total Parking Spaces
60
Elevators
Yes
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Building Size
9,436 SF
Year Built
1975
Buildings
1
Stories
2
Listing Agency:
King Commercial Realty, LLC
(586) 601-9830
Listed By:
Anthony R Sievert · License #6502422805
(586) 601-9830
Source:
Homesforsaleinmich
Added: Jul 15
Changed: Aug 21
Last Checked: Aug 21 at 2:34PM
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 King Commercial Realty, LLC
Investment Insights
Based on property information with market context.
This Class C office building contains multiple suites across two stories and is served by an elevator. The main building offers 9,436 square feet, with an additional 4,576 square feet of rented usable basement space. On-site parking includes 60 spaces, and utilities are included for the available lease options.
Located at 18600 Florence Street in Roseville, the property provides immediate access to I-94 and I-696. The building was constructed in 1975 and is offered for sale with both short-term and long-term leasing options available.
Located at 18600 Florence Street in Roseville, the property provides immediate access to I-94 and I-696. The building was constructed in 1975 and is offered for sale with both short-term and long-term leasing options available.
Key Highlights
- 9,436 SF two‑story office building with elevator
- Additional 4,576 SF of rented usable basement space
- 60 on‑site parking spaces
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
$48,236
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
6.03%
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%
$964,720
$964.7K
Cap Rate 7%
$689,086
$689.1K
Cap Rate 9%
$535,956
$536.0K
Market Conditions
NOI Build-Up for 14,012 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
$84.1K $6.00/SF
− Vacancy
−$19.8K −$1.41/SF
EGI
$64.3K $4.59/SF
− OpEx
−$16.1K −$1.15/SF
NOI
$48.2K $3.44/SF
Area
Macomb 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%
$964,720
Cap Rate 7%
$689,086
Cap Rate 9%
$535,956
Alternative Uses
Best Use
Office B
$689.1K
$603.0K – $803.9K
NOI $48,236 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.62M
$2.30M – $3.06M
NOI $183,629 @ 7.0% cap · market cap 22.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
537
Businesses Nearby
Explore this area
Business Placement
Demographics for 48066, MI
47,789
Population
22,116
Households
2.2
Avg Household Size
39
Median Age
15%
College-Educated
90%
High-School Grad
9.9 sq mi
ZIP Area
4,827
Density / Sq Mi
$61,222
Median Household Income
$38,978
Median Earnings
$1,175
Median Rent
$142,700
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 building - Suite-based office property with included utilities, on-site parking, and immediate interstate access.
Where is this office building located?
The property is located at 18600 Florence Street Roseville, MI.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: 9,436 SF two‑story office building with elevator; Additional 4,576 SF of rented usable basement space; 60 on‑site parking spaces
