Leased Multifamily/Commercial Investment
For Sale
Contact for pricing
314 Eastman Ave, Midland, MI
Four leased properties for sale in downtown Midland.
Property Size6,710 SF
Lot Size0.07 Acres
Price / SF$125.93
Days on Market340
Property Features for 314 Eastman Ave
General Information
Standard status
Active
Size
6,710 SF
Lot size
0.07 Acres
Property subtype
MULTIFAMILY
Listing Agency:
Trademark Commercial Group
Listed By:
Gretchen Witherspoon,SIOR,CCIM
(989) 295-0353
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Aug 8
Last Checked: Jul 16 at 1:43AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
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%.
Key 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,047
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,260,940
$1.3M
Cap Rate 7%
$900,671
$900.7K
Cap Rate 9%
$700,522
$700.5K
Market Conditions
NOI Build-Up for 6,710 SF
Gross rent
$96.6K $14.40/SF
− Vacancy
−$12.6K −$1.87/SF
EGI
$84.1K $12.53/SF
− OpEx
−$21.0K −$3.13/SF
NOI
$63.0K $9.40/SF
Area
Midland County, MI
Vacancy
13.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,260,940
Cap Rate 7%
$900,671
Cap Rate 9%
$700,522
Alternative Uses
Best Use
Office B
$900.7K
$788.1K – $1.05M
NOI $63,047 @ 7.0% cap · market cap 7.46%
Second Best
Multifamily LT 5
$635.1K
$555.8K – $741.0K
NOI $44,460 @ 7.0% cap · market cap 5.26%
Theoretical Best
Flex RnD
$1.21M
$1.06M – $1.41M
NOI $84,777 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
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691
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
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 $845,000.
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.
