Brick Office
For Sale
$325,000
4710 S Garfield Road, Auburn, MI 48611
Currently occupied by a tenant under a month-to-month arrangement.
Property Size1,400 SF
Days on Market36
Property Features for 4710 S Garfield Road
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Commercial
Additional Details
Gross Income
$19,200
Building Details
Building Size
1,400 SF
Year Built
1979
Construction
brick
Tenancy
Single
Listing Agency:
Bridges Realtors
(989) 430-1077
Listed By:
Toby Bridges · License #BCRA
(989) 430-1077
Source:
Mid-land
Added: Jul 16
Changed: Aug 18
Last Checked: Aug 20 at 2:45PM
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 Bridges Realtors
Investment Insights
Based on property information with market context.
This office building at 4710 S Garfield Road is constructed of brick and was completed in 1979. The property was previously used as a credit union and is currently occupied under a month-to-month tenancy.
The existing occupancy provides an established use while retaining a flexible lease structure for the next owner. The property is located in Auburn, Michigan, with the address identifying its S Garfield Road setting.
The existing occupancy provides an established use while retaining a flexible lease structure for the next owner. The property is located in Auburn, Michigan, with the address identifying its S Garfield Road setting.
Key Highlights
- Brick office building completed in 1979
- Current tenant occupies the property on a month‑to‑month basis
- Previously operated as a credit union
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
$13,306
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
4.09%
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%
$266,120
$266.1K
Cap Rate 7%
$190,086
$190.1K
Cap Rate 9%
$147,844
$147.8K
Market Conditions
NOI Build-Up for 1,400 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
$20.2K $14.40/SF
− Vacancy
−$2.4K −$1.73/SF
EGI
$17.7K $12.67/SF
− OpEx
−$4.4K −$3.17/SF
NOI
$13.3K $9.50/SF
Area
Bay County, MI
Vacancy
12.00%
Lease Rate
$14.40 /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%
$266,120
Cap Rate 7%
$190,086
Cap Rate 9%
$147,844
Alternative Uses
Best Use
Office B
$190.1K
$166.3K – $221.8K
NOI $13,306 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$253.4K
$221.8K – $295.7K
NOI $17,741 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Explore this area
Business Placement
Demographics for 48611, MI
6,482
Population
2,700
Households
2.4
Avg Household Size
43
Median Age
35%
College-Educated
97%
High-School Grad
38.2 sq mi
ZIP Area
170
Density / Sq Mi
$80,511
Median Household Income
$46,432
Median Earnings
$901
Median Rent
$166,500
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 - Currently occupied by a tenant under a month-to-month arrangement.
Where is this office building located?
The property is located at 4710 S Garfield Road Auburn, MI.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Brick office building completed in 1979; Current tenant occupies the property on a month‑to‑month basis; Previously operated as a credit union
