Well-Maintained Office Building For
For Sale
$1,250,000
4211 Division Ave N, Comstock Park, MI 49321
Three-suite office building with high visibility and ample parking.
Property Size4,900 SF
Lot Size1.54 Acres
Price / SF$255.10
Days on Market151
Property Features for 4211 Division Ave N
General Information
Standard status
Active
Size
4,900 SF
Lot size
1.54 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$23,180
Building Details
Year Built
1995
Units
3
Listing Agency:
Greenridge Realty (Lowell)
(616) 262-5488
Listed By:
Lance M Tiffany
(616) 262-5488
Source:
Elliman
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 20 at 9:12AM
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 Greenridge Realty (Lowell)
Investment Insights
Based on property information with market context.
This is a beautifully maintained three-suite office building that offers high visibility and ample parking. It is located across the street from the U of M Health facility. Two suites are currently leased, with one remaining space available, offering 4,900 square feet. An additional 6,000 square feet is available for storage. This property presents a great opportunity for an investor or an owner/user.
Key Highlights
- High visibility location across the street from U of M Health facility.
- Two suites are currently leased, providing immediate income.
- Opportunity for investor or owner/user.
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
$48,960
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
3.92%
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%
$979,200
$979.2K
Cap Rate 7%
$699,429
$699.4K
Cap Rate 9%
$544,000
$544.0K
Market Conditions
NOI Build-Up for 4,900 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
$71.7K $14.64/SF
− Vacancy
−$6.5K −$1.32/SF
EGI
$65.3K $13.32/SF
− OpEx
−$16.3K −$3.33/SF
NOI
$49.0K $9.99/SF
Area
Kent County, MI
Vacancy
9.00%
Lease Rate
$14.64 /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%
$979,200
Cap Rate 7%
$699,429
Cap Rate 9%
$544,000
Alternative Uses
Best Use
Office B
$699.4K
$612.0K – $816.0K
NOI $48,960 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$876.4K
$766.9K – $1.02M
NOI $61,348 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
212
Businesses Nearby
Explore this area
Business Placement
Demographics for 49321, MI
16,764
Population
6,693
Households
2.5
Avg Household Size
36
Median Age
29%
College-Educated
91%
High-School Grad
26.3 sq mi
ZIP Area
637
Density / Sq Mi
$74,691
Median Household Income
$41,855
Median Earnings
$1,073
Median Rent
$244,300
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 - Three-suite office building with high visibility and ample parking.
Where is this office building located?
The property is located at 4211 Division Ave N Comstock Park, MI.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: High visibility location across the street from U of M Health facility.; Two suites are currently leased, providing immediate income.; Opportunity for investor or owner/user.
