Flex Building with Corner
51 Chilson Rd Howell, MI 48843
For Sale
Contact for pricing
Flex building on a busy corner with an unoccupied warehouse and a month-to-month front unit featuring reception, office, and bath.
Property Size4,633 SF
Price / SF$139.22
Days on Market483
Property Features for 51 Chilson Rd
General Information
Standard status
Active
Size
4,633 SF
Property subtype
OFFICE
Listing Agency:
Keller Williams Living
(586) 443-1618
Listed By:
Brigs Lulaj · License #6501448878,MICHIGAN
(586) 443-1618
Source:
Moodyscre
Added: Apr 4, 2025
Changed: Jul 28
Last Checked: Jul 29 at 12:29PM
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 Keller Williams Living
Investment Insights
Based on property information with market context.
This flex building offers two potential business spaces. The back portion includes an unoccupied warehouse area of nearly 1,800 square feet with a full private basement. The front unit is tenant occupied on a month-to-month lease and includes a bright reception area, office space, and a bathroom.
Situated on a busy high-traffic corner with main intersection visibility, the property is described as minutes to downtown Howell. The log building is in great condition, with updated mechanicals and a maintenance-free exterior. A newly repaved asphalt parking lot was completed in 2023.
Situated on a busy high-traffic corner with main intersection visibility, the property is described as minutes to downtown Howell. The log building is in great condition, with updated mechanicals and a maintenance-free exterior. A newly repaved asphalt parking lot was completed in 2023.
Key Highlights
- Flex commercial building on a busy corner near downtown Howell
- Unoccupied warehouse space is nearly 1,800 sq ft with a full private basement
- Front unit is tenant occupied on a month‑to‑month lease
Financial Insights For Warehouse
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 | $41.7k | $9.00 |
| − Vacancy | −$1.8k | −$0.40 |
| EGI | $39.9k | $8.60 |
| − OpEx | −$6.0k | −$1.29 |
| NOI | $33.9k | $7.31 |
4,633 SF · lease $9.00/SF/yr · vacancy 4.40% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$484.0K
$423.5K – $564.7K
NOI $33,883 @ 7.0% cap · market cap 5.25%
Second Best
Flex RnD
$412.6K
$361.1K – $481.4K
NOI $28,884 @ 7.0% cap · market cap 4.48%
Theoretical Best
Healthcare Medical
$738.0K
$645.7K – $861.0K
NOI $51,658 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Heaven on a Roll — 235 Fair Ave, Howell, MI 48843
Frequently Asked Questions
What type of property is this?
Flex space - Flex building on a busy corner with an unoccupied warehouse and a month-to-month front unit featuring reception, office, and bath.
Where is this flex space located?
The property is located at 51 Chilson Rd Howell, MI.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Flex commercial building on a busy corner near downtown Howell; Unoccupied warehouse space is nearly 1,800 sq ft with a full private basement; Front unit is tenant occupied on a month‑to‑month lease
