Building Details

Year Built 1991

Listing Agency: Coldwell Banker Beiswanger Realty Group

Listed By: Todd Rowe · License #6506049495 Show Phone

Source: Katie-k

Added: Jul 27 Changed: Oct 3 Last Checked: Oct 7 at 3:06PM

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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 Coldwell Banker Beiswanger Realty Group

Investment Insights

Based on property information with market context.

Constructed in 1991, this mixed-use property combines professional office facilities, salon space, and residential accommodation. The office component includes five private offices, a conference area, reception space, and a breakroom. Separate salon improvements provide two workstations, while a one-bedroom, one-bathroom apartment adds a residential component.

The property is located at 4426 E Berry Rd in Pleasant Lake, Michigan. The existing configuration supports multiple commercial functions within one asset, with the apartment providing an additional use component. Lease options are available according to the transaction information.

Key Highlights

• Five private offices with conference, reception, and breakroom areas
• Salon area equipped with 2 workstations
• Rented 1‑bedroom, 1‑bathroom apartment

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,998

Cap Rate

9.14%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$639,960 $640.0K

Cap Rate 7%

$457,114 $457.1K

Cap Rate 9%

$355,533 $355.5K

Market Conditions

NOI Build-Up for 3,861 SF

Gross rent

$60.2K $15.60/SF

− Vacancy

−$9.0K −$2.34/SF

EGI

$51.2K $13.26/SF

− OpEx

−$19.2K −$4.97/SF

NOI

$32.0K $8.29/SF

Area

Jackson County, MI

Vacancy

15.00%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$639,960

Cap Rate 7%

$457,114

Cap Rate 9%

$355,533

Alternative Uses

Best Use

Office B

$462.3K

$404.5K – $539.3K (±1% cap)

NOI $32,358 @ 7.0% cap · market cap 9.25%

Second Best

Mixed Use

$457.1K

$400.0K – $533.3K (±1% cap)

NOI $31,998 @ 7.0% cap · market cap 9.14%

Theoretical Best

Office A

$616.3K

$539.3K – $719.1K (±1% cap)

NOI $43,144 @ 7.0% cap · market cap 12.33%

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

Property Analytics

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Current Use

Cutting Time Hair ... Hair Salon Wild Soul Suites Hair Salon Sharp Construction General Contractor

Suggested Use

Top Pick Building Supply (Bike/Boat/Book/etc) Store Storage Facility Hair Salon Hotel & Motel Department 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.

Location Intelligence

Trade Area within ½ mile

16

Businesses Nearby

Explore this area Business Placement

Demographics for 49272, MI

2,413

Population

1,210

Households

2

Avg Household Size

47

Median Age

28%

College-Educated

95%

High-School Grad

11.1 sq mi

ZIP Area

217

Density / Sq Mi

$90,156

Median Household Income

$49,167

Median Earnings

$196,700

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

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Mixed-use property - Office-focused commercial property with salon improvements and an on-site residential unit.

Where is this mixed-use property located?

The property is located at 4426 E Berry Rd Pleasant Lake, MI.

What is the asking price?

The asking price for this property is $350,000.

What are key features of this property?

This property features: Five private offices with conference, reception, and breakroom areas; Salon area equipped with 2 workstations; Rented 1‑bedroom, 1‑bathroom apartment