Mixed-Use Building with
For Sale
$499,900
358 W Huron Street, Pontiac, MI 48341
Combined office, storage, garage, and furnished residential space on a fenced site.
Property Size4,433 SF
Days on Market14
Property Features for 358 W Huron Street
General Information
Standard status
Active
Size
4,433 SF
Total Parking Spaces
10
Property subtype
Commercial
Zoning
Commercial, Residential
Site & Location
Road Access
Yes
Fenced Yard
Yes
Additional Details
Warehouse Space
1,000 SF
Office Units
1
Taxes and HOA fees
Annual Taxes
$3,903
Amenities
conference room
kitchenette/break area
Building Details
Building Size
4,433 SF
Year Built
1910
Buildings
2
Listing Agency:
J Thomas & Associates Realty
(810) 691-9819
Listed By:
Jeffrey S Thomas
Source:
Irishhillsfivestarhomes
Added: Aug 11
Changed: Aug 23
Last Checked: Aug 23 at 3:08AM
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 4,433-square-foot mixed-use property combines office, storage, garage, and residential components on a 1.3-acre parcel. The office portion measures more than 1,300 square feet and includes a reception area, two private offices, a conference room, two restrooms, and a kitchenette or break area. A separate 1,000-square-foot garage and storage section includes an additional restroom, while the upper level contains a furnished two-bedroom, two-bath apartment.
The fenced property provides 104 feet of frontage on W Huron St. and includes 10 parking spaces. A detached 32-by-28-foot garage is also located on the site, which is zoned residential and extends back to Washington St. Personal property conveys with the sale, excluding computers, televisions, and the copy machine.
The fenced property provides 104 feet of frontage on W Huron St. and includes 10 parking spaces. A detached 32-by-28-foot garage is also located on the site, which is zoned residential and extends back to Washington St. Personal property conveys with the sale, excluding computers, televisions, and the copy machine.
Key Highlights
- 4,433 SF mixed‑use building on a 1.3‑acre parcel
- Office area exceeds 1,300 SF with reception, two offices, conference room, two restrooms, and kitchenette
- Furnished upstairs apartment with 2 bedrooms and 2 baths
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
$44,884
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
8.98%
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%
$897,680
$897.7K
Cap Rate 7%
$641,200
$641.2K
Cap Rate 9%
$498,711
$498.7K
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
$79.8K $18.00/SF
− Vacancy
−$8.0K −$1.80/SF
EGI
$71.8K $16.20/SF
− OpEx
−$26.9K −$6.07/SF
NOI
$44.9K $10.13/SF
Area
Oakland County, MI
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$897,680
Cap Rate 7%
$641,200
Cap Rate 9%
$498,711
Alternative Uses
Best Use
Mixed Use
$641.2K
$561.1K – $748.1K
NOI $44,884 @ 7.0% cap · market cap 8.98%
Second Best
Office B
$218.0K
$190.8K – $254.4K
NOI $15,261 @ 7.0% cap · market cap 3.05%
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
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?
Mixed-use property - Combined office, storage, garage, and furnished residential space on a fenced site.
Where is this mixed-use property located?
The property is located at 358 W Huron Street 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: 4,433 SF mixed‑use building on a 1.3‑acre parcel; Office area exceeds 1,300 SF with reception, two offices, conference room, two restrooms, and kitchenette; Furnished upstairs apartment with 2 bedrooms and 2 baths
