Retail-Office and Warehouse
For Sale
Contact for pricing
5488 RICHFIELD RD, Flint, MI 48506
Two-building flex setup with renovated warehouse and retail/office space plus ample concrete parking.
Property Size16,370 SF
Price / SF$61.03
Days on Market567
Property Features for 5488 RICHFIELD RD
General Information
Standard status
Active
Size
16,370 SF
Property subtype
Retail, Industrial
Net Operating Income
$999,999,999
Additional Details
Traffic Count
9,500 vehicles/day
Building Details
Year Built
1993
Listing Agency:
Real Estate by Tremaine
(810) 280-1297
Listed By:
Jennifer Tremaine · License #6502322377
Source:
Crexi
Added: Jan 23, 2025
Changed: Aug 8
Last Checked: Aug 12 at 4:57AM
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 Real Estate by Tremaine
Investment Insights
Based on property information with market context.
The offering includes two buildings totaling 16,370 sq ft. The first building is a 7,500 sq ft retail/office structure with a large showroom floor, executive offices, storage, and four bathrooms. It also has the ability to divide into suites, supported by partition doors that can separate the space into zones as needed. The second building is an 8,680 sq ft fully heated and insulated warehouse with exterior 12-ft overhead doors, 3 furnaces, LED lighting, a restroom, and a 26x10 loft. Additional features include hot water, new roof and new exterior paint, smart security, and smart thermostats.
The property is located at 5488 Richfield Rd in Flint, MI, with excellent frontage and signage on a class A road. It is supported by a concrete parking lot with ample parking and a reported 9,500 daily traffic count. The site is approximately 2.5 miles from I-69.
This layout supports a range of expansion and operating models, combining a showroom/office component with a heated warehouse geared toward product handling or light distribution. The warehouse’s multiple overhead doors and loft space can help accommodate storage and workflow needs, while the retail/office building’s suite-ready configuration offers flexibility for office staff, client-facing space, or mixed-use tenants.
The property is located at 5488 Richfield Rd in Flint, MI, with excellent frontage and signage on a class A road. It is supported by a concrete parking lot with ample parking and a reported 9,500 daily traffic count. The site is approximately 2.5 miles from I-69.
This layout supports a range of expansion and operating models, combining a showroom/office component with a heated warehouse geared toward product handling or light distribution. The warehouse’s multiple overhead doors and loft space can help accommodate storage and workflow needs, while the retail/office building’s suite-ready configuration offers flexibility for office staff, client-facing space, or mixed-use tenants.
Key Highlights
- Two‑building flex property built in 1993 with 9,000 SF warehouse plus 7,500 SF retail/office space
- 7500 SF retail/office building with large showroom floor, executive offices, 4 bathrooms, and ability to divide into suites
- 8,680 SF fully heated and insulated warehouse with 12‑ft overhead doors, restrooms, LED lighting, hot water, and a 26x10 loft
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
$91,832
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
9.19%
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%
$1,836,640
$1.8M
Cap Rate 7%
$1,311,886
$1.3M
Cap Rate 9%
$1,020,356
$1.0M
Market Conditions
NOI Build-Up for 16,370 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
$157.2K $9.60/SF
− Vacancy
−$15.9K −$0.97/SF
EGI
$141.3K $8.63/SF
− OpEx
−$49.4K −$3.02/SF
NOI
$91.8K $5.61/SF
Area
Genesee County, MI
Vacancy
10.10%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
35.00%
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%
$1,836,640
Cap Rate 7%
$1,311,886
Cap Rate 9%
$1,020,356
Alternative Uses
Best Use
Office B
$2.58M
$2.25M – $3.01M
NOI $180,338 @ 7.0% cap · market cap 18.05%
Second Best
Retail
$2.43M
$2.12M – $2.83M
NOI $169,935 @ 7.0% cap · market cap 17.01%
Theoretical Best
Office A
$3.44M
$3.01M – $4.02M
NOI $241,128 @ 7.0% cap · market cap 24.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9,500 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
142
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48506, MI
25,069
Population
11,114
Households
2.3
Avg Household Size
39
Median Age
9%
College-Educated
83%
High-School Grad
18.5 sq mi
ZIP Area
1,355
Density / Sq Mi
$44,416
Median Household Income
$31,740
Median Earnings
$897
Median Rent
$91,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two-building flex setup with renovated warehouse and retail/office space plus ample concrete parking.
Where is this flex space located?
The property is located at 5488 RICHFIELD RD Flint, MI.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Two‑building flex property built in 1993 with 9,000 SF warehouse plus 7,500 SF retail/office space; 7500 SF retail/office building with large showroom floor, executive offices, 4 bathrooms, and ability to divide into suites; 8,680 SF fully heated and insulated warehouse with 12‑ft overhead doors, restrooms, LED lighting, hot water, and a 26x10 loft
