Freestanding Storefront Building with
For Sale
$1,000,000
203 Perry St, Pontiac, MI 48342
Freestanding retail building offering usable basement space and C-2 zoning near downtown Pontiac.
Property Size8,100 SF
Price / SF$123.46
Days on Market17
Property Features for 203 Perry St
General Information
Standard status
Active
Size
8,100 SF
Property subtype
Retail
Zoning
C-2
Additional Details
Road Access
Yes
Amenities
great signage
Building Details
Building Size
8,100 SF
Year Built
1969
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Insite Commercial
(248) 359-9000
Listed By:
Kyle Nelson
(248) 359-9000
Source:
Cpix.resimplifi
Added: Aug 6
Changed: Aug 22
Last Checked: Aug 22 at 5:24AM
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 Insite Commercial
Investment Insights
Based on property information with market context.
This freestanding storefront property contains 8,100 SF above grade along with an additional 3,000 SF of usable basement space. Built in 1969, the building is zoned C-2 and was previously occupied by Trek Bicycle.
The property is positioned on Woodward Avenue immediately north of downtown Pontiac, with over 500' of frontage and excess land. The site address is 203 Perry St, Pontiac, MI 48342.
The property is positioned on Woodward Avenue immediately north of downtown Pontiac, with over 500' of frontage and excess land. The site address is 203 Perry St, Pontiac, MI 48342.
Key Highlights
- 8,100 SF freestanding storefront building
- Additional 3,000 SF of usable basement space
- Over 500' of frontage on Woodward Avenue
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
$87,159
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
8.72%
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%
$1,743,180
$1.7M
Cap Rate 7%
$1,245,129
$1.2M
Cap Rate 9%
$968,433
$968.4K
Market Conditions
NOI Build-Up for 8,100 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
$136.1K $16.80/SF
− Vacancy
−$11.6K −$1.43/SF
EGI
$124.5K $15.37/SF
− OpEx
−$37.4K −$4.61/SF
NOI
$87.2K $10.76/SF
Area
Oakland County, MI
Vacancy
8.50%
Lease Rate
$16.80 /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%
$1,743,180
Cap Rate 7%
$1,245,129
Cap Rate 9%
$968,433
Alternative Uses
Best Use
Retail
$1.25M
$1.09M – $1.45M
NOI $87,159 @ 7.0% cap · market cap 8.72%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.75M
$1.53M – $2.04M
NOI $122,297 @ 7.0% cap · market cap 12.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,256
Businesses Nearby
Under-served
Demand for This Use
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Henk Studio — 106 n saginaw st, pontiac, mi 48342
Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding retail building offering usable basement space and C-2 zoning near downtown Pontiac.
Where is this storefront property located?
The property is located at 203 Perry St Pontiac, MI.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 8,100 SF freestanding storefront building; Additional 3,000 SF of usable basement space; Over 500' of frontage on Woodward Avenue
