Multi-Suite Retail and Office
48 South Street Ortonville, MI 48462
48 South Street, Ortonville, MI, 48462
$450,000
For Sale
$450,000
Multi-suite building offers six individual suites connected by a shared hallway and served by two public bathrooms.
Property Size6,380 SF
Price / SF$70.53
Days on Market77
Property Features for 48 South Street
General Information
- Standard status
- Active
- Size
- 6,380 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1994
Listing agency
Berkshire Hathaway HomeServices Michigan Real Est
(248) 343-0231
Listed by
Barbara Schaefer · License #6502370653
(248) 343-0231
Source
Sabudarealty
Added: May 7 Updated: Jul 21 at 4:19AM Checked: Jul 21 at 4:19AM
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 Berkshire Hathaway HomeServices Michigan Real Est
Investment Insights
Based on property information with market context.
This for-sale commercial property is an established multi-suite building totaling 6,380 square feet, configured into six separate suites. The layout includes a shared interior hallway connecting the suites and two public bathrooms serving the building. Street-side parking is available directly in front of the property, with additional designated parking spaces located within an interior lot area.
Located in the Village of Ortonville, the building benefits from a downtown setting with local traffic and nearby businesses, with convenient access to surrounding communities throughout northern Oakland County.
Currently fully occupied, the property provides immediate income potential while maintaining flexibility for future adjustments within the suite configuration. Tours are available by appointment only.
Located in the Village of Ortonville, the building benefits from a downtown setting with local traffic and nearby businesses, with convenient access to surrounding communities throughout northern Oakland County.
Currently fully occupied, the property provides immediate income potential while maintaining flexibility for future adjustments within the suite configuration. Tours are available by appointment only.
Key Highlights
- Built in 1994 and located at 48 South St. in the Village of Ortonville
- Over 6,000 sq ft of commercial space configured into six separate suites
- Currently fully occupied with immediate income potential
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.3k | $6.00 |
| − Vacancy | −$9.0k | −$1.41 |
| EGI | $29.3k | $4.59 |
| − OpEx | −$7.3k | −$1.15 |
| NOI | $22.0k | $3.44 |
6,380 SF · lease $6.00/SF/yr · vacancy 23.50% · expense 25.00%
Alternative Uses
Best Use
Retail
$980.7K
$858.1K – $1.14M
NOI $68,651 @ 7.0% cap · market cap 15.26%
Second Best
Office B
$313.8K
$274.5K – $366.1K
NOI $21,963 @ 7.0% cap · market cap 4.88%
Theoretical Best
Specialty Retail
$1.38M
$1.20M – $1.61M
NOI $96,328 @ 7.0% cap · market cap 21.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
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FAQs
What type of property is this?
Office units - Multi-suite building offers six individual suites connected by a shared hallway and served by two public bathrooms.
Where is this office units located?
The property is located at 48 South Street Ortonville, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Built in 1994 and located at 48 South St. in the Village of Ortonville; Over 6,000 sq ft of commercial space configured into six separate suites; Currently fully occupied with immediate income potential
