Multi-Use Commercial Building with
For Sale
$499,900
358 W Huron St, Pontiac, MI 48341
Commercial building with office space, storage garage, and an upstairs furnished 2-bed/2-bath apartment.
Property Size4,433 SF
Lot Size1.30 Acres
Price / SF$112.77
Days on Market49
Property Features for 358 W Huron St
General Information
Standard status
Active
Size
4,433 SF
Total Parking Spaces
10
Lot size
1.30 Acres
Site & Location
Road Access
Yes
Fenced Yard
Yes
Units
Multifamily Units
1
Office Units
1
Building Details
Year Built
1910
Listing Agency:
J Thomas & Associates Realty
Listed By:
Jeffrey S Thomas
(810) 691-9819
Source:
Katie-k
Added: Jul 17
Changed: Sep 3
Last Checked: Sep 2 at 7:20PM
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 J Thomas & Associates Realty
Investment Insights
Based on property information with market context.
This multi-use commercial building includes an office area of more than 1,300 sq. ft. with a reception area, two offices, a conference room, two restrooms, and a kitchenette/break room. Additional space includes a garage/storage area of 1,000 sq. ft. with a restroom. The second level features a furnished 2-bed, 2-bath apartment. The sale also includes personal property, excluding computers, televisions, and the copy machine.
The site includes 104 ft. of frontage on Huron St. and is fenced with 10 parking spots. A separate 32x28 garage sits on a 1.3-acre lot that is zoned residential and backs to Washington St. Additional residential lots on the north side of Washington are available as well (MLS# 20261047287).
The site includes 104 ft. of frontage on Huron St. and is fenced with 10 parking spots. A separate 32x28 garage sits on a 1.3-acre lot that is zoned residential and backs to Washington St. Additional residential lots on the north side of Washington are available as well (MLS# 20261047287).
Key Highlights
- Multiuse commercial building with over 4,300 sq ft, including office space, garage/storage, and an upstairs 2‑bed/2‑bath furnished apartment
- 104 ft frontage on Huron St with a fenced area and 10 parking spots
- Office area over 1,300 sq ft with reception, 2 offices, conference room, 2 restrooms, and kitchenette/break area
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
$15,261
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
3.05%
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%
$305,220
$305.2K
Cap Rate 7%
$218,014
$218.0K
Cap Rate 9%
$169,567
$169.6K
Market Conditions
NOI Build-Up for 4,433 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
$26.6K $6.00/SF
− Vacancy
−$6.3K −$1.41/SF
EGI
$20.3K $4.59/SF
− OpEx
−$5.1K −$1.15/SF
NOI
$15.3K $3.44/SF
Area
Oakland County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
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%
$305,220
Cap Rate 7%
$218,014
Cap Rate 9%
$169,567
Alternative Uses
Best Use
Office B
$218.0K
$190.8K – $254.4K
NOI $15,261 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$956.2K
$836.6K – $1.12M
NOI $66,931 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
1
Residential units
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
Explore this area
Business Placement
Demographics for 48341, MI
16,980
Population
8,601
Households
2
Avg Household Size
38
Median Age
24%
College-Educated
86%
High-School Grad
6.7 sq mi
ZIP Area
2,534
Density / Sq Mi
$46,185
Median Household Income
$34,200
Median Earnings
$917
Median Rent
$124,600
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?
Office units - Commercial building with office space, storage garage, and an upstairs furnished 2-bed/2-bath apartment.
Where is this office units located?
The property is located at 358 W Huron St Pontiac, MI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Multiuse commercial building with over 4,300 sq ft, including office space, garage/storage, and an upstairs 2‑bed/2‑bath furnished apartment; 104 ft frontage on Huron St with a fenced area and 10 parking spots; Office area over 1,300 sq ft with reception, 2 offices, conference room, 2 restrooms, and kitchenette/break area
