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    Professional Office Space For Lease Title is generated by Realmo AI

    2604 Sunnyside Drive, Cadillac, MI 49601

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    For Lease
    $600/Mo $0.85 SF/Yr (calc)

    Individual office spaces available in Cadillac West with utilities included.

    Type:Rental
    Property size:
    8,436 SF
    Lot size:
    0.18 Acres
    Added:
    Dec 15, 2023
    Days on Market:
    898
    Last Refresh:
    May 19 at 11:07 pm

    Property Features for 2604 Sunnyside Drive

    General Information

    Standard status
    Active
    Size
    8,436 SF
    Lot size
    0.18 Acres
    Property subtype
    Rental

    Building Details

    Year Built
    1962

    We can help!

    Listing Contact
    Greg Bosscher
    Greg Bosscher

    Listing agent Greg Bosscher License #6506046948

    Listing office Five Star Real Estate - Shelby St Cadillac

    Listing date Dec 15, 2023

    Source Exitrealty

    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 Five Star Real Estate - Shelby St Cadillac

    HighLights

    • Prime location on M‑115 in Cadillac West, south of the M‑55 intersection.
    • All utilities included in rent.
    • Variety of office sizes available, ranging from $400 to $650 per month.
    • Shared use of a conference room.
    • Professional building with over 9000 sq ft and 22 office spaces.
    • Multiple floors with over 8400 sq ft of finished space, offering flexibility for different space needs.

    Overview

    Individual office spaces are available for lease in a professional building located in Cadillac West on M-115, just south of the M-55 intersection. The building has over 9000 square feet and contains 22 office spaces, a conference room, and four bathrooms, as well as wide reception and common areas. The finished space spans over 8400 square feet across three floors. Office sizes vary, and rental rates range from $400 to $650 per month, which includes shared use of the conference room. All utilities are included in the rent.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ravi R. Gurumurthy ... Law Firm Premier Roofing & Exteriors Roofing Company Michigan Therapy and Counseling Medical Clinic NetMed Transcription Services, ... Medical Transcription Service Network Reporting Corporation Law Firm

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Hair Salon Hotel & Motel Department Store Food Market Storage Facility Bar & Pub

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cadillac
    County
    Wexford
    State
    Michigan
    Longitude
    -85.452121
    Latitude
    44.233966

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      Cadillac Office Space For Lease

      Professional office building with individual spaces available for lease.
      2604 Sunnyside Drive, Cadillac, MI 49601
      View Details

    FAQs

    What type of property is this?
    Office units - Individual office spaces available in Cadillac West with utilities included.
    Where is this office units located?
    The property is located at 2604 Sunnyside Drive Cadillac, MI.
    What is the lease rate?
    The lease rate is $600 /Mo.
    What are key features of this property?
    This property features: Prime location on M‑115 in Cadillac West, south of the M‑55 intersection.; All utilities included in rent.; Variety of office sizes available, ranging from $400 to $650 per month.
    (231) 357-2798
    We can help!
    Listing Contact
    Greg Bosscher
    Greg Bosscher
    Real Estate License ID: 6506046948
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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