Three-Suite Office
For Sale
$1,250,000
4211 Division Ave N, Comstock Park, MI 49321
Two suites are leased, with additional office and storage space available.
Property Size9,484 SF
Price / SF$131.80
Days on Market171
Property Features for 4211 Division Ave N
General Information
Standard status
Active
Size
9,484 SF
Total Parking Spaces
36
Property subtype
Office
Zoning
I
Additional Details
Office Units
3
Amenities
36 Parking Spaces
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Greenridge Realty (Corp)
(616) 717-8220
Listed By:
Todd Pearson
(616) 717-8220
Source:
Carwm.resimplifi
Added: Mar 13
Changed: Aug 29
Last Checked: Aug 26 at 12:18PM
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 (Corp)
Investment Insights
Based on property information with market context.
Constructed in 1995, this three-suite office building includes two leased suites and one available suite measuring 4,900 square feet. A separate 6,000-square-foot storage area is also available, providing additional space within the property. The building is zoned O-Office.
The property is positioned across the street from a U of M Health facility, with lots of parking available across the street. Its existing suite layout accommodates both leased occupancy and continued use of the remaining office and storage areas.
The property is positioned across the street from a U of M Health facility, with lots of parking available across the street. Its existing suite layout accommodates both leased occupancy and continued use of the remaining office and storage areas.
Key Highlights
- Three‑suite office building constructed in 1995
- Two suites are leased; one 4,900‑square‑foot suite remains available
- Additional 6,000 square feet available for storage
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
$94,762
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
7.58%
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%
$1,895,240
$1.9M
Cap Rate 7%
$1,353,743
$1.4M
Cap Rate 9%
$1,052,911
$1.1M
Market Conditions
NOI Build-Up for 9,484 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
$138.8K $14.64/SF
− Vacancy
−$12.5K −$1.32/SF
EGI
$126.3K $13.32/SF
− OpEx
−$31.6K −$3.33/SF
NOI
$94.8K $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%
$1,895,240
Cap Rate 7%
$1,353,743
Cap Rate 9%
$1,052,911
Alternative Uses
Best Use
Office B
$1.35M
$1.18M – $1.58M
NOI $94,762 @ 7.0% cap · market cap 7.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.48M – $1.98M
NOI $118,739 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
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 - Two suites are leased, with additional office and storage space available.
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: Three‑suite office building constructed in 1995; Two suites are leased; one 4,900‑square‑foot suite remains available; Additional 6,000 square feet available for storage
