Retail/Office Building with Flexible
For Sale
$309,000
5303 S Old US Highway 23, Brighton, MI 48114
Open interior offers flexibility for a range of retail or office buildouts off Old US 23.
Property Size2,568 SF
Price / SF$120.33
Days on Market738
Property Features for 5303 S Old US Highway 23
General Information
Standard status
Active
Size
2,568 SF
Class
C
Total Parking Spaces
3
Property subtype
Office
Zoning
B-3
Additional Details
Highway Access
Yes
Building Details
Building Size
2,568 SF
Year Built
1992
Buildings
1
Stories
1
Listing Agency:
Thomas A. Duke Company
Listed By:
John K. Porth · License #6501336460
(810) 623-3755
Source:
Cpix.resimplifi
Added: Oct 24, 2024
Changed: Oct 25
Last Checked: Oct 30 at 10:45AM
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 Thomas A. Duke Company
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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 retail/office building is available for sale and presents an open interior layout that can support a variety of buildouts. The property is described as ready for final touches, offering a straightforward foundation for customization based on the next tenant or owner’s plans.
Located on the east side of Old US 23 between Grand River and Spencer Road, the property benefits from a well-traveled corridor setting. The site also provides easy access to both US 23 and I-96, supporting convenient connections for customers and staff.
With its flexible floorplan and location along a major roadway, the building is suited to users seeking a space that can be finished to match their operational needs, whether retail-facing or office-oriented.
Located on the east side of Old US 23 between Grand River and Spencer Road, the property benefits from a well-traveled corridor setting. The site also provides easy access to both US 23 and I-96, supporting convenient connections for customers and staff.
With its flexible floorplan and location along a major roadway, the building is suited to users seeking a space that can be finished to match their operational needs, whether retail-facing or office-oriented.
Key Highlights
- Retail/office building built in 1992
- Located on the east side of Old US 23 between Grand River and Spencer Road
- Well located on the busy Old US 23 corridor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,840
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$176,800
$176.8K
Cap Rate 7%
$126,286
$126.3K
Cap Rate 9%
$98,222
$98.2K
Market Conditions
NOI Build-Up for 2,568 SF
Gross rent
$15.4K $6.00/SF
− Vacancy
−$3.6K −$1.41/SF
EGI
$11.8K $4.59/SF
− OpEx
−$2.9K −$1.15/SF
NOI
$8.8K $3.44/SF
Area
Livingston County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$176,800
Cap Rate 7%
$126,286
Cap Rate 9%
$98,222
Alternative Uses
Best Use
Office B
$126.3K
$110.5K – $147.3K
NOI $8,840 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$409.0K
$357.9K – $477.2K
NOI $28,633 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
655
Businesses Nearby
Explore this area
Business Placement
Demographics for 48114, MI
21,222
Population
8,223
Households
2.6
Avg Household Size
45
Median Age
47%
College-Educated
97%
High-School Grad
29.0 sq mi
ZIP Area
732
Density / Sq Mi
$118,581
Median Household Income
$55,946
Median Earnings
$1,333
Median Rent
$384,800
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 building - Open interior offers flexibility for a range of retail or office buildouts off Old US 23.
Where is this office building located?
The property is located at 5303 S Old US Highway 23 Brighton, MI.
What is the asking price?
The asking price for this property is $309,000.
What are key features of this property?
This property features: Retail/office building built in 1992; Located on the east side of Old US 23 between Grand River and Spencer Road; Well located on the busy Old US 23 corridor
