Building Details

Building Size 6,000 SF

Year Built 2003

Buildings 1

Stories 1

Listing Agency: Gil Henry & Associates

Listed By: Gilbert M. Henry · License #6502135057 Show Phone

Source: Cpix.resimplifi

Added: Aug 6, 2025 Changed: Oct 12 Last Checked: Oct 23 at 3:23AM

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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 Gil Henry & Associates

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This well-built office/medical building in the Village of Onsted, Michigan, is offered for sale with 100% occupancy. The property includes separate suites, with Suites A and B combined at 4,475 square feet, and Suite C at 1,363 square feet.

Income and expense information is available with a signed confidentiality agreement, and details are provided by the listing agent upon request.

The building is configured for suite-level occupancy, supporting independent tenancy across multiple units while maintaining shared ownership of the overall asset.

Key Highlights

• Well‑built office/medical building built in 2003
• 100% occupancy with fully occupied suites, supporting investor income
• Suite A & B combined for 4,475 SF

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$71,528

Cap Rate

8.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,430,560 $1.4M

Cap Rate 7%

$1,021,829 $1.0M

Cap Rate 9%

$794,756 $794.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,000 SF

Gross rent

$133.2K $22.20/SF

− Vacancy

−$14.0K −$2.33/SF

EGI

$119.2K $19.87/SF

− OpEx

−$47.7K −$7.95/SF

NOI

$71.5K $11.92/SF

Area

Lenawee County, MI

Vacancy

10.50%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,430,560

Cap Rate 7%

$1,021,829

Cap Rate 9%

$794,756

Alternative Uses

Best Use

Healthcare Medical

$1.02M

$894.1K – $1.19M (±1% cap)

NOI $71,528 @ 7.0% cap · market cap 8.42%

Second Best

Office B

$944.3K

$826.2K – $1.10M (±1% cap)

NOI $66,098 @ 7.0% cap · market cap 7.78%

Theoretical Best

Multifamily LT 5

$74.44M

$65.14M – $86.85M (±1% cap)

NOI $5,210,884 @ 7.0% cap · market cap 613.05%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

ProMedica Physicians Family ... Pediatrician Matt Hall, PAC Physician Lou Anne Justus, ... Physician Onsted Family Care Medical Clinic The Medicine Shoppe® Pharmacy Pharmacy

Suggested Use

Top Pick Big Box & Wholesale Store Auto Parts Store HVAC Service Auto Repair Shop Storage Facility Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

86

Businesses Nearby

Explore this area Business Placement

Demographics for 49265, MI

5,055

Population

2,468

Households

2

Avg Household Size

49

Median Age

27%

College-Educated

95%

High-School Grad

32.4 sq mi

ZIP Area

156

Density / Sq Mi

$70,020

Median Household Income

$44,914

Median Earnings

$903

Median Rent

$245,100

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Well-built office and medical building with fully occupied suites available for sale.

Where is this office building located?

The property is located at 400 N Main St Onsted, MI.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: Well‑built office/medical building built in 2003; 100% occupancy with fully occupied suites, supporting investor income; Suite A & B combined for 4,475 SF