Building Details

Year Built 1998

Buildings 1

Stories 1

Building Size 1,520 SF

Tenancy Multi

Listing Agency: Five Star Real Estate (Courtland)

Listed By: Brian H Boven · License #6501375164 Show Phone

Source: Vmrealestatemichigan

Added: Oct 18 Changed: Oct 21 Last Checked: Oct 23 at 7:48AM

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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 Five Star Real Estate (Courtland)

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Investment Insights

Based on property information with market context.

This 1,520-square-foot mixed-use building, completed in 1998, is arranged as two separate retail/office units. The single-story layout includes two retail/office areas, a reception area, a private office, three restrooms, and multiple storage and utility rooms. The existing configuration can serve separate occupants or be adapted into a single larger commercial space.

The property fronts 14 Mile Road in Rockford and sits approximately a quarter mile from US-131. On-site parking serves customers and employees.

Key Highlights

• 1,520‑square‑foot, single‑story building constructed in 1998
• Two separate retail/office units with potential to combine into one larger space
• Two retail/office areas, reception, private office, three restrooms, and storage and utility rooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,492

Cap Rate

4.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$349,840 $349.8K

Cap Rate 7%

$249,886 $249.9K

Cap Rate 9%

$194,356 $194.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,520 SF

Gross rent

$32.5K $21.36/SF

− Vacancy

−$4.5K −$2.95/SF

EGI

$28.0K $18.41/SF

− OpEx

−$10.5K −$6.90/SF

NOI

$17.5K $11.51/SF

Area

Kent County, MI

Vacancy

13.80%

Lease Rate

$21.36 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$349,840

Cap Rate 7%

$249,886

Cap Rate 9%

$194,356

Alternative Uses

Best Use

Mixed Use

$249.9K

$218.7K – $291.5K (±1% cap)

NOI $17,492 @ 7.0% cap · market cap 4.12%

Second Best

Retail

$225.4K

$197.2K – $263.0K (±1% cap)

NOI $15,779 @ 7.0% cap · market cap 3.71%

Theoretical Best

Office A

$271.9K

$237.9K – $317.2K (±1% cap)

NOI $19,030 @ 7.0% cap · market cap 4.48%

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

Property Analytics

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Current Use

Buffum Appliance Home Appliance Store State Farm Insurance Insurance Agency Bangz Hair Salon Hair Salon Frank Nerychel - State ... Insurance Agency

Suggested Use

Top Pick Real Estate Agency Building Supply Dental Office HVAC Service Law Firm Plumbing Service

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

2

Office units

Multi-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

104

Businesses Nearby

Explore this area Business Placement

Demographics for 49341, MI

38,250

Population

15,070

Households

2.5

Avg Household Size

39

Median Age

49%

College-Educated

97%

High-School Grad

84.5 sq mi

ZIP Area

453

Density / Sq Mi

$112,932

Median Household Income

$57,775

Median Earnings

$1,251

Median Rent

$347,700

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - A single-story layout includes retail and office areas, reception space, private office, three restrooms, and storage rooms.

Where is this mixed-use property located?

The property is located at 4235 14 Mile Rd NE Rockford, MI.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: 1,520‑square‑foot, single‑story building constructed in 1998; Two separate retail/office units with potential to combine into one larger space; Two retail/office areas, reception, private office, three restrooms, and storage and utility rooms