Office Unit with Three
For Sale
Contact for pricing
5103 Eastman Avenue, Midland, MI 48640
Compact professional space with utilities included, elevator-lobby access, and ample parking.
Property Size550 SF
Price / SF$0.91
Days on Market92
Property Features for 5103 Eastman Avenue
General Information
Standard status
Active
Size
550 SF
Elevators
Yes
Additional Details
Utilities to Site
Yes
Listing Agency:
RE/MAX New Image
Listed By:
Patrick Devereaux · License #6501180276
(989) 280-2622
Source:
Alexmi
Added: Jul 20
Changed: Oct 2
Last Checked: Oct 19 at 7:01AM
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 RE/MAX New Image
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 550-square-foot office unit contains 3 separate offices and is located at 5103 Eastman Avenue in Midland, Michigan. The property includes all utilities, providing a straightforward operating arrangement for the occupants.
Building features include an elevator lobby and lots of parking. The space is offered for sale and combines multiple private offices with shared building conveniences in a compact professional setting.
Building features include an elevator lobby and lots of parking. The space is offered for sale and combines multiple private offices with shared building conveniences in a compact professional setting.
Key Highlights
- 550 square feet with 3 separate offices
- All utilities included
- Elevator lobby access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,168
Suggested Prices Based on Cap Rates
Cap Rate 5%
$103,360
$103.4K
Cap Rate 7%
$73,829
$73.8K
Cap Rate 9%
$57,422
$57.4K
Market Conditions
NOI Build-Up for 550 SF
Gross rent
$7.9K $14.40/SF
− Vacancy
−$1.0K −$1.87/SF
EGI
$6.9K $12.53/SF
− OpEx
−$1.7K −$3.13/SF
NOI
$5.2K $9.40/SF
Area
Midland County, MI
Vacancy
13.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$103,360
Cap Rate 7%
$73,829
Cap Rate 9%
$57,422
Alternative Uses
Best Use
Office B
$73.8K
$64.6K – $86.1K
NOI $5,168 @ 7.0% cap · market cap 1,033.60%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$99.3K
$86.9K – $115.8K
NOI $6,949 @ 7.0% cap · market cap 1,389.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
Explore this area
Business Placement
Demographics for 48640, MI
31,840
Population
14,340
Households
2.2
Avg Household Size
41
Median Age
38%
College-Educated
96%
High-School Grad
105.1 sq mi
ZIP Area
303
Density / Sq Mi
$81,630
Median Household Income
$43,353
Median Earnings
$928
Median Rent
$191,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Compact professional space with utilities included, elevator-lobby access, and ample parking.
Where is this office unit located?
The property is located at 5103 Eastman Avenue Midland, MI.
What are key features of this property?
This property features: 550 square feet with 3 separate offices; All utilities included; Elevator lobby access
