Office Flex Space with Grade
For Sale
$315,000
2513-2517 Imlay City Rd, Lapeer, MI 48446
Office flex space features open floor plan, kitchenette, and front and back entry doors, with a grade level door.
Property Size4,868 SF
Price / SF$64.71
Days on Market380
Property Features for 2513-2517 Imlay City Rd
General Information
Standard status
Active
Size
4,868 SF
Class
C
Total Parking Spaces
15
Property subtype
Retail, Office
Zoning
C-1
Additional Details
Drive-In Doors
1
Building Details
Building Size
4,868 SF
Year Built
1960
Stories
1
Listing Agency:
CMP Real Estate Group
Listed By:
Peggy J Feltner · License #6501413792
(248) 821-7688
Source:
Cpix.resimplifi
Added: Aug 25, 2025
Changed: Aug 8
Last Checked: Jul 23 at 11:25AM
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 CMP Real Estate Group
Investment Insights
Based on property information with market context.
This office flex space includes an open floor plan with open ceilings, a kitchenette, and bathrooms. The layout also provides an open conference area suitable for team meetings, along with front and back entry doors for convenient access.
The property is offered for sale as a multi-unit configuration covering 2513–2517 Imlay City Rd. The unit identified as 2515 includes a garage storage area and a grade level door.
Overall, the space is designed to support both day-to-day office use and flexible operations, with multiple access points and built-in conference and break-out areas.
The property is offered for sale as a multi-unit configuration covering 2513–2517 Imlay City Rd. The unit identified as 2515 includes a garage storage area and a grade level door.
Overall, the space is designed to support both day-to-day office use and flexible operations, with multiple access points and built-in conference and break-out areas.
Key Highlights
- 1960‑built office flex space with open floor plan
- Kitchenette included
- Open conference area for team meetings
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
$27,571
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
8.75%
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%
$551,420
$551.4K
Cap Rate 7%
$393,871
$393.9K
Cap Rate 9%
$306,344
$306.3K
Market Conditions
NOI Build-Up for 4,868 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
$43.8K $9.00/SF
− Vacancy
−$4.4K −$0.91/SF
EGI
$39.4K $8.09/SF
− OpEx
−$11.8K −$2.43/SF
NOI
$27.6K $5.66/SF
Area
Lapeer County, MI
Vacancy
10.10%
Lease Rate
$9.00 /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%
$551,420
Cap Rate 7%
$393,871
Cap Rate 9%
$306,344
Alternative Uses
Best Use
Flex RnD
$609.6K
$533.4K – $711.2K
NOI $42,669 @ 7.0% cap · market cap 13.55%
Second Best
Industrial
$393.9K
$344.6K – $459.5K
NOI $27,571 @ 7.0% cap · market cap 8.75%
Theoretical Best
Healthcare Medical
$797.2K
$697.5K – $930.0K
NOI $55,802 @ 7.0% cap · market cap 17.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48446, MI
30,788
Population
12,797
Households
2.4
Avg Household Size
45
Median Age
20%
College-Educated
93%
High-School Grad
121.9 sq mi
ZIP Area
253
Density / Sq Mi
$66,382
Median Household Income
$40,263
Median Earnings
$976
Median Rent
$206,300
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?
Flex space - Office flex space features open floor plan, kitchenette, and front and back entry doors, with a grade level door.
Where is this flex space located?
The property is located at 2513-2517 Imlay City Rd Lapeer, MI.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1960‑built office flex space with open floor plan; Kitchenette included; Open conference area for team meetings
