Standalone Office
For Sale
$225,000
3805 S Ravenna Road, Ravenna, MI 49451
COMMERCIAL - Ravenna, MI
Property Size640 SF
Lot Size2.40 Acres
Price / SF$351.56
Days on Market301
Property Features for 3805 S Ravenna Road
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Ravenna
Middle school district
Ravenna
High school district
Ravenna
Subdivision
Muskegon County - M
Standard status
Active
APN
43-725-008-0001-50
Size
640 SF
Lot size
2.40 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
See attached
Tax Annual Amount
1964
Legal Description
See attached
Utilities
Utilities
Propane
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1998
Number of units
1
Listing Agency:
Keller Williams GR East · Keller Williams Realty
(616) 575-1800
Listed By:
Jason R Carpenter · License #6502430921
(616) 334-2630
Added: Oct 25, 2025
Changed: Aug 4
Last Checked: Aug 21 at 10:06AM
MLS# 25054981
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 640-square-foot office building occupies a 2.4-acre property and includes a practical interior arrangement with one bathroom. The building was constructed in 1998 and is equipped with forced-air heating and central air conditioning. A paved parking area and detached garage provide additional on-site utility, while propane service and a septic tank support the property’s basic infrastructure.
The building is currently used as the administrative office for a propane company. Its existing office configuration is identified as suitable for accountants, contractors, consultants, and small business owners. The property is located at 3805 S Ravenna Road in Ravenna, Michigan, with a standalone building and accessory garage on the site.
The building is currently used as the administrative office for a propane company. Its existing office configuration is identified as suitable for accountants, contractors, consultants, and small business owners. The property is located at 3805 S Ravenna Road in Ravenna, Michigan, with a standalone building and accessory garage on the site.
Key Highlights
- 640‑square‑foot office building on 2.4 acres
- Paved parking lot included
- Detached garage offers additional storage or workspace
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
104
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
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Frequently Asked Questions
What type of property is this?
Office building - Compact commercial layout with paved parking, a detached garage, and central air conditioning.
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 office building on 2.4 acres; Paved parking lot included; Detached garage offers additional storage or workspace
