Leased Multifamily/Commercial Investment
314 Eastman Ave, Midland, MI
Call to check price and availability
Four leased properties for sale in downtown Midland.
Type:MULTIFAMILY
Property size:
6,710 SFLot size:
0.07 AcresPrice / SF:
$130/SF- Added:
- Nov 24, 2025
- Days on Market:
- 179
- Last Refresh:
- May 19 at 9:10 pm
Property Features for 314 Eastman Ave
General Information
- Standard status
- Active
- Size
- 6,710 SF
- Lot size
- 0.07 Acres
- Property subtype
- MULTIFAMILY
Listing agent Gretchen Witherspoon,SIOR,CCIM (989) 295-0353
Listing office Trademark Commercial Group (989) 295-0353
Listing date Nov 24, 2025
Source Moodyscre
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 Trademark Commercial Group
HighLights
- Package sale of 4 leased properties in a prime downtown Midland location.
- Current leases provide an immediate revenue stream with a 6% cap rate.
- Properties are zoned Office Service, offering flexibility for future redevelopment.
- High visibility on M‑20 (Buttles) near Dow Diamond, offices, retail, and restaurants.
- Properties have a history of consistent leasing.
- Includes a mix of office and residential units.
Overview
Four leased multifamily and commercial investment properties are available for sale as a package. The properties are located at 314 Eastman, 507 W. Buttles, 501 W. Buttles, and 421 W. Buttles. All properties are currently leased, providing immediate revenue while offering future redevelopment opportunities in Downtown Midland. The properties are located on M-20 (Buttles), a highly visible area near the Dow Diamond, East End, offices, retail spaces, and restaurants, including the Zinc Cafe and the H Hotel. The properties at 314 Eastman are zoned for Office Service and feature an office on the street level with an apartment on the upper level. The properties at 507 W. Buttles, 501 W. Buttles, and 421 W. Buttles are zoned for Office Service, and although zoned as residential duplexes, they are currently used as single-family residences. The total property size is 6710 square feet. The properties have been consistently leased for many years and are well-maintained. The cap rate is 6%.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$700.5K
NOI $63,047 @ 9.00% cap · cautious / downside scenario
Moderate
$900.7K
NOI $63,047 @ 7.00% cap · market / base-case scenario
Aggressive
$1.26M
NOI $63,047 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $96.6k | $14.40 |
| − Vacancy | −$12.6k | −$1.87 |
| EGI | $84.1k | $12.53 |
| − OpEx | −$21.0k | −$3.13 |
| NOI | $63.0k | $9.40 |
6,710 SF · lease $14.40/SF/yr · vacancy 13.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$900.7K
$788.1K – $1.05M
NOI $63,047 @ 7.0% cap · market cap 7.21%
Second Best
Multifamily LT 5
$635.1K
$555.8K – $741.0K
NOI $44,460 @ 7.0% cap · market cap 5.08%
Theoretical Best
Flex RnD
$1.21M
$1.06M – $1.41M
NOI $84,777 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Midland
- County
- Midland
- State
- Michigan
- Longitude
- -84.246912
- Latitude
- 43.617084
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Four leased properties for sale in downtown Midland.
Where is this duplex located?
The property is located at 314 Eastman Ave Midland, MI.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Package sale of 4 leased properties in a prime downtown Midland location.; Current leases provide an immediate revenue stream with a 6% cap rate.; Properties are zoned Office Service, offering flexibility for future redevelopment.
