Brick Office Building with High
For Sale
Contact for pricing
Pending
21085-21089 Goddard Road, Taylor, MI 48180
Brick building offers one or two combined/divided office units with 16-foot ceilings and an open, unpartitioned layout.
Property Size4,400 SF
Days on Market380
Property Features for 21085-21089 Goddard Road
General Information
Standard status
Pending
Size
4,400 SF
Property subtype
Retail
Listing Agency:
CENTURY 21 Curran & Oberski
Listed By:
Marc Kostelnik · License #MI
Source:
Crexi
Added: Aug 22, 2025
Changed: Aug 12
Last Checked: Sep 1 at 8:01PM
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 CENTURY 21 Curran & Oberski
Investment Insights
Based on property information with market context.
A brick office building offering one or two units that can be combined or divided, with 16-foot ceilings throughout. The floor plan is open with no partitioned layout, providing flexibility for an end user or for multiple businesses within the same structure. The property is currently described as having income from an existing lease, and it also notes “unlimited use potential,” with zoning approval to be confirmed by the buyer.
The building is located on Goddard Road in downtown Taylor, described as a commercial corridor surrounded by established branded businesses. The remarks also describe the lot as unusually large with excellent parking to accommodate most uses.
For access, the listing states not to go on site during business hours and that proof of funds or pre-approval is required to show the property. Appointments are required via contact to schedule.
The building is located on Goddard Road in downtown Taylor, described as a commercial corridor surrounded by established branded businesses. The remarks also describe the lot as unusually large with excellent parking to accommodate most uses.
For access, the listing states not to go on site during business hours and that proof of funds or pre-approval is required to show the property. Appointments are required via contact to schedule.
Key Highlights
- Over 4,400 SF brick building in downtown Taylor on Goddard Rd.
- One or two office units available, combined or divided, with 16' ceilings.
- Open, unpartitioned floor plan with no partitioned layout.
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
$46,335
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
9.09%
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%
$926,700
$926.7K
Cap Rate 7%
$661,929
$661.9K
Cap Rate 9%
$514,833
$514.8K
Market Conditions
NOI Build-Up for 4,400 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
$88.2K $20.04/SF
− Vacancy
−$11.0K −$2.49/SF
EGI
$77.2K $17.55/SF
− OpEx
−$30.9K −$7.02/SF
NOI
$46.3K $10.53/SF
Area
Wayne County, MI
Vacancy
12.42%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
40.00%
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%
$926,700
Cap Rate 7%
$661,929
Cap Rate 9%
$514,833
Alternative Uses
Best Use
Healthcare Medical
$661.9K
$579.2K – $772.3K
NOI $46,335 @ 7.0% cap · market cap 9.09%
Second Best
Office B
$216.4K
$189.3K – $252.5K
NOI $15,147 @ 7.0% cap · market cap 2.97%
Theoretical Best
Specialty Retail
$814.6K
$712.8K – $950.4K
NOI $57,024 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
Explore this area
Business Placement
Demographics for 48180, MI
63,409
Population
26,741
Households
2.4
Avg Household Size
39
Median Age
16%
College-Educated
87%
High-School Grad
23.6 sq mi
ZIP Area
2,687
Density / Sq Mi
$59,537
Median Household Income
$40,090
Median Earnings
$1,036
Median Rent
$141,200
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 units - Brick building offers one or two combined/divided office units with 16-foot ceilings and an open, unpartitioned layout.
Where is this office units located?
The property is located at 21085-21089 Goddard Road Taylor, MI.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Over 4,400 SF brick building in downtown Taylor on Goddard Rd.; One or two office units available, combined or divided, with 16' ceilings.; Open, unpartitioned floor plan with no partitioned layout.
