Office Building with Expansion
For Sale
$1,937,000
5370 Miller Rd, Swartz Creek, MI 48473
B-3-zoned office property with long-term tenants and on-site water and sewer infrastructure.
Property Size16,100 SF
Price / SF$120.31
Days on Market307
Property Features for 5370 Miller Rd
General Information
Standard status
Active
Size
16,100 SF
Class
A
Total Parking Spaces
80
Property subtype
Office, Investment
Zoning
B-3
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Building Details
Building Size
16,100 SF
Year Built
1990
Stories
1
Listing Agency:
The Mallory Corporation
(810) 733-6400
Listed By:
Clint B Carlson · License #121976
(810) 733-6400
Source:
Cpix.resimplifi
Added: Oct 28, 2025
Changed: Aug 29
Last Checked: Aug 29 at 6:23PM
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 The Mallory Corporation
Investment Insights
Based on property information with market context.
Built in 1990, this office property is occupied by long-term tenants and includes additional acreage available for future development. The site is zoned B-3, with water and sewer infrastructure already in place, supporting continued office use and potential expansion.
Access to I-69, I-75, and US-23 places the property within 3 miles of Bishop International Airport. The site is also 1 mile from the General Motors parts plant in Swartz Creek, 3 miles from the GM truck and bus plant on Bristol Road, and within 1 mile of the Mega Site in Mundy Township.
The available acreage adds flexibility for future office or other commercial development, subject to applicable approvals and requirements.
Access to I-69, I-75, and US-23 places the property within 3 miles of Bishop International Airport. The site is also 1 mile from the General Motors parts plant in Swartz Creek, 3 miles from the GM truck and bus plant on Bristol Road, and within 1 mile of the Mega Site in Mundy Township.
The available acreage adds flexibility for future office or other commercial development, subject to applicable approvals and requirements.
Key Highlights
- Additional acreage available for future development
- B‑3 zoning
- Long‑term tenants in place
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
$177,363
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
9.16%
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%
$3,547,260
$3.5M
Cap Rate 7%
$2,533,757
$2.5M
Cap Rate 9%
$1,970,700
$2.0M
Market Conditions
NOI Build-Up for 16,100 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
$274.3K $17.04/SF
− Vacancy
−$37.9K −$2.35/SF
EGI
$236.5K $14.69/SF
− OpEx
−$59.1K −$3.67/SF
NOI
$177.4K $11.02/SF
Area
Genesee County, MI
Vacancy
13.80%
Lease Rate
$17.04 /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%
$3,547,260
Cap Rate 7%
$2,533,757
Cap Rate 9%
$1,970,700
Alternative Uses
Best Use
Office B
$2.53M
$2.22M – $2.96M
NOI $177,363 @ 7.0% cap · market cap 9.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.39M
$2.96M – $3.95M
NOI $237,151 @ 7.0% cap · market cap 12.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
Explore this area
Business Placement
Demographics for 48473, MI
22,035
Population
9,853
Households
2.2
Avg Household Size
45
Median Age
25%
College-Educated
95%
High-School Grad
56.2 sq mi
ZIP Area
392
Density / Sq Mi
$76,765
Median Household Income
$40,908
Median Earnings
$1,092
Median Rent
$191,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - B-3-zoned office property with long-term tenants and on-site water and sewer infrastructure.
Where is this office building located?
The property is located at 5370 Miller Rd Swartz Creek, MI.
What is the asking price?
The asking price for this property is $1,937,000.
What are key features of this property?
This property features: Additional acreage available for future development; B‑3 zoning; Long‑term tenants in place
