Building Details

Building Size 16,885 SF

Year Built 1996

Listing Agency: NAI Mid-Michigan

Listed By: David Robinson · License #6502386052 Show Phone

Source: Cpix.resimplifi

Added: Dec 11, 2025 Changed: Oct 5 Last Checked: Oct 23 at 3:17AM

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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 Mid-Michigan

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Investment Insights

Based on property information with market context.

This freestanding retail building totals 16,885 square feet and is configured around a large open layout that can support a variety of retail operations. The pitched shingled roof is approximately four years old, and the property has had recent upgrades including new split HVAC systems. The building also has public sewer and well water.

The property is zoned C-2, providing flexibility for retail and other commercial uses under the local zoning framework.

Historically operated as a retail establishment since 1996, the building is positioned for an owner or investor seeking a free-standing retail asset in the Williamston area.

Key Highlights

• 16,885 SF free‑standing building with retail history since 1996
• Large open retail layout suitable for a variety of retail operations
• Pitched shingled roof is about 4 years old

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$116,446

Cap Rate

5.97%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,328,920 $2.3M

Cap Rate 7%

$1,663,514 $1.7M

Cap Rate 9%

$1,293,844 $1.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 16,885 SF

Gross rent

$202.6K $12.00/SF

− Vacancy

−$36.3K −$2.15/SF

EGI

$166.4K $9.85/SF

− OpEx

−$49.9K −$2.96/SF

NOI

$116.4K $6.90/SF

Area

Ingham County, MI

Vacancy

17.90%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,328,920

Cap Rate 7%

$1,663,514

Cap Rate 9%

$1,293,844

Alternative Uses

Best Use

Retail

$1.66M

$1.46M – $1.94M (±1% cap)

NOI $116,446 @ 7.0% cap · market cap 5.97%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.71M

$2.37M – $3.16M (±1% cap)

NOI $189,895 @ 7.0% cap · market cap 9.74%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Antiques Market of Williamston Home Decor Store 앤틱가구 용품점 Home Decor Store

Suggested Use

Top Pick Restaurant Big Box & Wholesale Store Law Firm Auto Repair Shop Hair Salon Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

130

Businesses Nearby

10k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Home Improvements & Furnishings 100%

Tractor Supply Co. Home Improvements & Furnishings

9,970 visits/mo 0.1 miles

Demographics for 48895, MI

11,472

Population

5,019

Households

2.3

Avg Household Size

43

Median Age

50%

College-Educated

97%

High-School Grad

82.9 sq mi

ZIP Area

138

Density / Sq Mi

$100,565

Median Household Income

$57,330

Median Earnings

$1,005

Median Rent

$272,500

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - Large open retail layout within a freestanding building, supported by split HVAC upgrades and C-2 zoning.

Where is this retail space located?

The property is located at 2991 N Williamston Rd Williamston, MI.

What is the asking price?

The asking price for this property is $1,950,000.

What are key features of this property?

This property features: 16,885 SF free‑standing building with retail history since 1996; Large open retail layout suitable for a variety of retail operations; Pitched shingled roof is about 4 years old