Office Building with
For Sale
$550,000
24001 Greater Mack Ave, St Clair Shores, MI 48080
Office building for sale offering up to 3,300 SF of available leasing space with ample parking.
Property Size6,810 SF
Price / SF$80.76
Days on Market280
Property Features for 24001 Greater Mack Ave
General Information
Standard status
Active
Size
6,810 SF
Property subtype
Office
Zoning
O-1
Building Details
Building Size
6,810 SF
Listing Agency:
NAI Farbman
Listed By:
Harrison Yaldoo · License #6501433927
(248) 353-0500
Source:
Cpix.resimplifi
Added: Dec 1, 2025
Changed: Aug 16
Last Checked: Jul 23 at 10:07AM
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 NAI Farbman
Investment Insights
Based on property information with market context.
This office building totals 6,810 SF and offers office space that includes 1,600 to 3,300 SF units for lease. The property is described as providing office space with plenty of parking and strong visibility along Greater Mack.
Located at 24001 Greater Mack Ave in St. Clair Shores, the building benefits from nearby amenities, with convenient access for employees and visitors. The listing notes great visibility of Greater Mack, supporting day-to-day office access.
For sale as an office investment opportunity, the property is presented with available suites in the 1,600 to 3,300 SF range and a leasing rate of $9.00 PSF plus utilities.
Located at 24001 Greater Mack Ave in St. Clair Shores, the building benefits from nearby amenities, with convenient access for employees and visitors. The listing notes great visibility of Greater Mack, supporting day-to-day office access.
For sale as an office investment opportunity, the property is presented with available suites in the 1,600 to 3,300 SF range and a leasing rate of $9.00 PSF plus utilities.
Key Highlights
- 6,810 SF office building for sale in St. Clair Shores
- Up to 3,300 SF available for lease (1,600–3,300 SF range)
- Lease rate is $9.00 PSF plus utilities
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
$23,443
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
4.26%
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%
$468,860
$468.9K
Cap Rate 7%
$334,900
$334.9K
Cap Rate 9%
$260,478
$260.5K
Market Conditions
NOI Build-Up for 6,810 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
$40.9K $6.00/SF
− Vacancy
−$9.6K −$1.41/SF
EGI
$31.3K $4.59/SF
− OpEx
−$7.8K −$1.15/SF
NOI
$23.4K $3.44/SF
Area
Macomb County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
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%
$468,860
Cap Rate 7%
$334,900
Cap Rate 9%
$260,478
Alternative Uses
Best Use
Office B
$334.9K
$293.0K – $390.7K
NOI $23,443 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.27M
$1.12M – $1.49M
NOI $89,246 @ 7.0% cap · market cap 16.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,143
Businesses Nearby
Explore this area
Business Placement
Demographics for 48080, MI
22,272
Population
11,424
Households
1.9
Avg Household Size
44
Median Age
33%
College-Educated
96%
High-School Grad
4.4 sq mi
ZIP Area
5,062
Density / Sq Mi
$69,884
Median Household Income
$48,837
Median Earnings
$1,070
Median Rent
$188,800
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 building - Office building for sale offering up to 3,300 SF of available leasing space with ample parking.
Where is this office building located?
The property is located at 24001 Greater Mack Ave St Clair Shores, MI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 6,810 SF office building for sale in St. Clair Shores; Up to 3,300 SF available for lease (1,600–3,300 SF range); Lease rate is $9.00 PSF plus utilities
