Standalone Office
For Sale
$225,000
3805 S Ravenna Road, Ravenna, MI 49451
Paved parking and a detached garage complement the practical small-business layout.
Property Size640 SF
Days on Market30
Property Features for 3805 S Ravenna Road
General Information
Standard status
Active
Size
640 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,963
Building Details
Building Size
640 SF
Year Built
1998
Buildings
2
Stories
640
Units
1
Tenancy
Single
Listing Agency:
Keller Williams GR East
(616) 334-2630
Listed By:
Jason R Carpenter · License #6502430921
Source:
Erareardonrealty
Added: Aug 3
Changed: Aug 30
Last Checked: Aug 31 at 5:12PM
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 Keller Williams GR East
Investment Insights
Based on property information with market context.
This standalone office property in Ravenna, Michigan, contains 640 square feet of workspace and was built in 1998. The interior includes a practical office arrangement and one bathroom, while the paved parking lot provides on-site vehicle accommodation.
A separate garage adds storage or work area beyond the main building. The property currently functions as an administrative office for a propane company and may accommodate professional users such as accountants, contractors, consultants, or other small businesses seeking a dedicated office setting.
A separate garage adds storage or work area beyond the main building. The property currently functions as an administrative office for a propane company and may accommodate professional users such as accountants, contractors, consultants, or other small businesses seeking a dedicated office setting.
Key Highlights
- 640‑square‑foot standalone office building
- Built in 1998
- Paved parking lot
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
$7,050
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
3.13%
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%
$141,000
$141.0K
Cap Rate 7%
$100,714
$100.7K
Cap Rate 9%
$78,333
$78.3K
Market Conditions
NOI Build-Up for 640 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
$10.9K $17.04/SF
− Vacancy
−$1.5K −$2.35/SF
EGI
$9.4K $14.69/SF
− OpEx
−$2.4K −$3.67/SF
NOI
$7.1K $11.02/SF
Area
Muskegon County, MI
Vacancy
13.80%
Lease Rate
$17.04 /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%
$141,000
Cap Rate 7%
$100,714
Cap Rate 9%
$78,333
Alternative Uses
Best Use
Office B
$100.7K
$88.1K – $117.5K
NOI $7,050 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$6.01M
$5.26M – $7.01M
NOI $420,718 @ 7.0% cap · market cap 186.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
78
Businesses Nearby
Explore this area
Business Placement
Demographics for 49451, MI
6,091
Population
2,433
Households
2.5
Avg Household Size
39
Median Age
20%
College-Educated
94%
High-School Grad
83.6 sq mi
ZIP Area
73
Density / Sq Mi
$67,383
Median Household Income
$40,266
Median Earnings
$951
Median Rent
$197,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Paved parking and a detached garage complement the practical small-business layout.
Where is this office building located?
The property is located at 3805 S Ravenna Road Ravenna, MI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 640‑square‑foot standalone office building; Built in 1998; Paved parking lot
