Historic Downtown Office
209 E Liberty Milford, MI 48381
209 E Liberty, Milford, MI, 48381
$300,000
For Sale
$300,000
Well-maintained single-tenant office building with residential space upstairs and garage access to Union Street.
Property Size2,430 SF
Price / SF$123.46
Days on Market149
Property Features for 209 E Liberty
General Information
- Standard status
- Active
- Size
- 2,430 SF
- Property subtype
- Office
Listing agency
Thomas A. Duke Company
(248) 567-8007
Listed by
Mark T. Schafer · License #6501271064
(248) 567-8007
Source
Cpix.resimplifi
Added: Feb 24 Updated: Jul 23 at 6:20AM Checked: Jul 23 at 6:20AM
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 Thomas A. Duke Company
Investment Insights
Based on property information with market context.
This well-maintained office building features historic character with modern systems and is set up as a single-tenant property. The layout includes office space with residential apartment space upstairs, supported by a garage that provides access to Union Street.
Located in downtown Milford within a walkable, small-town commercial district, the property is described as having strong visibility. Office zoning allows for various office uses.
The combination of street-facing office space and upstairs residential space provides a flexible mixed configuration within the same building.
Located in downtown Milford within a walkable, small-town commercial district, the property is described as having strong visibility. Office zoning allows for various office uses.
The combination of street-facing office space and upstairs residential space provides a flexible mixed configuration within the same building.
Key Highlights
- Well‑maintained single‑tenant office building in downtown Milford
- Office zoning allows for various office uses
- Residential apartment located upstairs
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.7k | $18.00 |
| − Vacancy | −$4.4k | −$1.80 |
| EGI | $39.4k | $16.20 |
| − OpEx | −$14.8k | −$6.07 |
| NOI | $24.6k | $10.13 |
2,430 SF · lease $18.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$351.5K
$307.6K – $410.1K
NOI $24,604 @ 7.0% cap · market cap 8.20%
Second Best
Office B
$119.5K
$104.6K – $139.4K
NOI $8,365 @ 7.0% cap · market cap 2.79%
Theoretical Best
Specialty Retail
$524.1K
$458.6K – $611.5K
NOI $36,689 @ 7.0% cap · market cap 12.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Martin George G
Law Firm
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Well-maintained single-tenant office building with residential space upstairs and garage access to Union Street.
Where is this office building located?
The property is located at 209 E Liberty Milford, MI.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Well‑maintained single‑tenant office building in downtown Milford; Office zoning allows for various office uses; Residential apartment located upstairs
