Highway-Front Office
For Sale
Under Contract
$240,000
1956 E Miller Road, Fairview, MI 48621
COMMERCIAL - Fairview, MI
Property Size2,330 SF
Lot Size0.68 Acres
Price / SF$102.96
Days on Market161
Property Features for 1956 E Miller Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial/Res
Parking features
Parking Lot
Subdivision
T27N R3E
Directions
Directions From Mio: Head toward Morenci Ave 56 ft Turn right at the 1st cross street onto Morenci Ave 0.5 mi Continue onto M-33 N/M-72 E/S Mount Tom Rd Continue to follow M-33 N/M-72 E Destination will be on the right 7.0 mi 1296 E Miller Rd
Standard status
Active Under Contract
APN
003-022-005-00
Size
2,331 SF
Lot size
0.68 Acres
Taxes and HOA fees
Tax Description
T27N R3E SEC 22 - LAND IN NE 1/4 OF NE 1/4 BEG 438' W OF NE COR, TH S 165'; E 9'; S 132'; W 99'; N 297'; E 90'. .64 A.
Legal Description
T27N R3E SEC 22 - LAND IN NE 1/4 OF NE 1/4 BEG 438' W OF NE COR, TH S 165'; E 9'; S 132'; W 99'; N 297'; E 90'. .64 A.
Utilities
Sewer type
Septic Tank
Water source
Well
Building Details
Floors in Building
1
Listing Agency:
State Wide Real Estate Mio
(989) 826-3292
Listed By:
Stephanie Hall
(989) 826-3292
Added: Mar 1
Changed: Aug 4
Last Checked: Aug 9 at 8:06AM
MLS# 201838872
Copyright © 2026 Water Wonderland Board 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.
This office-unit property is a commercial building with an established rental history and continued tenant interest. The site includes a parking lot and is served by a well and septic tank. Commercial/Res zoning supports the property's existing commercial profile.
Located at 1956 E Miller Road in Fairview, Michigan, the property has frontage along M-72 highway and direct access from the roadway. The 0.68-acre site provides a dedicated setting for the building and its parking area. Existing rental activity and tenant interest offer a factual operating history for purchasers to evaluate.
Located at 1956 E Miller Road in Fairview, Michigan, the property has frontage along M-72 highway and direct access from the roadway. The 0.68-acre site provides a dedicated setting for the building and its parking area. Existing rental activity and tenant interest offer a factual operating history for purchasers to evaluate.
Key Highlights
- 0.68‑acre commercial site
- Frontage along M‑72 highway
- Commercial/Res zoning
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
$21,098
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
8.79%
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%
$421,960
$422.0K
Cap Rate 7%
$301,400
$301.4K
Cap Rate 9%
$234,422
$234.4K
Market Conditions
NOI Build-Up for 2,331 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
$35.0K $15.00/SF
− Vacancy
−$4.8K −$2.07/SF
EGI
$30.1K $12.93/SF
− OpEx
−$9.0K −$3.88/SF
NOI
$21.1K $9.05/SF
Area
Lansing, MI
Vacancy
13.80%
Lease Rate
$15.00 /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%
$421,960
Cap Rate 7%
$301,400
Cap Rate 9%
$234,422
Alternative Uses
Best Use
Office B
$321.3K
$281.1K – $374.8K
NOI $22,489 @ 7.0% cap · market cap 9.37%
Second Best
Retail
$301.4K
$263.7K – $351.6K
NOI $21,098 @ 7.0% cap · market cap 8.79%
Theoretical Best
Office A
$479.8K
$419.8K – $559.8K
NOI $33,587 @ 7.0% cap · market cap 13.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 48621, MI
1,282
Population
696
Households
1.8
Avg Household Size
54
Median Age
21%
College-Educated
88%
High-School Grad
51.1 sq mi
ZIP Area
25
Density / Sq Mi
$52,353
Median Household Income
$34,375
Median Earnings
$731
Median Rent
$135,900
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 - Commercial/residential-zoned office property with highway frontage, on-site parking, and established rental history.
Where is this office units located?
The property is located at 1956 E Miller Road Fairview, MI.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 0.68‑acre commercial site; Frontage along M‑72 highway; Commercial/Res zoning
