Two-Bay Flex
For Sale
$350,000
1916 Cedar Street, Holt, MI 48842
Commercial Sale, Holt, MI
Property Size1,460 SF
Lot Size0.61 Acres
Price / SF$239.73
Days on Market415
Property Features for 1916 Cedar Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Zoning
Parking
30
Parking features
Parking Lot
Fencing
Perimeter
Elementary school district
Holt/Dimondale
Middle school district
Holt/Dimondale
High school district
Holt/Dimondale
Directions
Cedar St South of Holt Rd. East side
Standard status
Active
APN
33-25-05-23-204-010
Size
1,460 SF
Lot size
0.61 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
(D 23-1-6) PT OF W 1/2 OF NE 1/4 OF SEC 23 E OF US-127 HWY BEG AT INT OF NE'LY LN US HWY 127 W/ N-S 1/4 LN SAID PT BEING 33 FT FROM C/L OF HWY MEAS AT RT ANGLES, TH N51 degrees 43'E 199.9 FT, TH S40 degrees 25'E 160 FT, TH S54 degrees 35'W 201.7 FT TO NE'LY LN OF OLD MUTRR, TH N49 degrees 02'W 14.4 FT, TH N39 degrees W 135.6 FT ALG NE'LY LN OF HWY TO BEG, SEC 23, T3NR2W.
Tax Annual Amount
3738
Legal Description
(D 23-1-6) PT OF W 1/2 OF NE 1/4 OF SEC 23 E OF US-127 HWY BEG AT INT OF NE'LY LN US HWY 127 W/ N-S 1/4 LN SAID PT BEING 33 FT FROM C/L OF HWY MEAS AT RT ANGLES, TH N51 degrees 43'E 199.9 FT, TH S40 degrees 25'E 160 FT, TH S54 degrees 35'W 201.7 FT TO NE'LY LN OF OLD MUTRR, TH N49 degrees 02'W 14.4 FT, TH N39 degrees W 135.6 FT ALG NE'LY LN OF HWY TO BEG, SEC 23, T3NR2W.
Utilities
Sewer type
Public Sewer
Heating system
Ceiling, Natural Gas, Forced Air
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
office
10' overhead doors
13' ceilings
9,000 lbs lift
front office
small office
2 piece lavatory
Building Details
Year built
1952
Floors in Building
1
Building materials
Brick, Rough Sawn
Roof type
Flat
Listing Agency:
Coldwell Banker Professionals -Okemos · Coldwell Banker Real Estate
(517) 349-4406
Listed By:
Rick VanHouten · License #6506042534
(517) 881-1467
Added: Jul 2, 2025
Changed: Aug 19
Last Checked: Aug 20 at 9:06PM
MLS# 289418
Copyright © 2026 Greater Lansing Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1952, this 1,460-square-foot single-story flex property occupies 0.61 acres and combines front and rear office areas with two service bays. The building includes 10-foot overhead doors, 13-foot ceilings, a 9,000 lbs lift, a two-piece lavatory, brick and rough-sawn construction, a flat roof, natural-gas forced-air heating, and central air with ceiling fans. Perimeter fencing encloses the north and east sides of the lot, while a parking lot provides on-site vehicle parking.
The property has 137 feet of frontage on Cedar St. and an average daily traffic count of over 7,000 vehicles. It is zoned C 2 and served by public water and public sewer. Delhi Township permits 31 cars on the property, supporting the existing office and service-bay configuration.
The property has 137 feet of frontage on Cedar St. and an average daily traffic count of over 7,000 vehicles. It is zoned C 2 and served by public water and public sewer. Delhi Township permits 31 cars on the property, supporting the existing office and service-bay configuration.
Key Highlights
- 1,460‑square‑foot flex property on 0.61 acres
- 137' of frontage on Cedar St.; average daily traffic count over 7,000 vehicles
- Two bays with 10' overhead doors and 13' ceilings
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
$10,069
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
2.88%
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%
$201,380
$201.4K
Cap Rate 7%
$143,843
$143.8K
Cap Rate 9%
$111,878
$111.9K
Market Conditions
NOI Build-Up for 1,460 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
$17.5K $12.00/SF
− Vacancy
−$3.1K −$2.15/SF
EGI
$14.4K $9.85/SF
− OpEx
−$4.3K −$2.96/SF
NOI
$10.1K $6.90/SF
Area
Ingham County, MI
Vacancy
17.90%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
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%
$201,380
Cap Rate 7%
$143,843
Cap Rate 9%
$111,878
Alternative Uses
Best Use
Retail
$143.8K
$125.9K – $167.8K
NOI $10,069 @ 7.0% cap · market cap 2.88%
Second Best
Industrial
$118.1K
$103.4K – $137.8K
NOI $8,269 @ 7.0% cap · market cap 2.36%
Theoretical Best
Office A
$234.6K
$205.3K – $273.7K
NOI $16,420 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13 ft
Clear height
2
Drive-in doors
2
Service bays
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
473
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48842, MI
21,548
Population
9,573
Households
2.3
Avg Household Size
40
Median Age
39%
College-Educated
93%
High-School Grad
17.2 sq mi
ZIP Area
1,253
Density / Sq Mi
$86,830
Median Household Income
$50,275
Median Earnings
$1,245
Median Rent
$211,500
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Single-story commercial building with office areas, overhead doors, a vehicle lift, and public utilities.
Where is this flex space located?
The property is located at 1916 Cedar Street Holt, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,460‑square‑foot flex property on 0.61 acres; 137' of frontage on Cedar St.; average daily traffic count over 7,000 vehicles; Two bays with 10' overhead doors and 13' ceilings
