Freestanding Commercial Building on Richfield
For Sale
Contact for pricing
5510 Richfield Road, Flint, MI 48506
4,552 SF building on 1.89 acres in Flint, Michigan.
Property Size4,552 SF
Lot Size1.89 Acres
Price / SF$98.86
Days on Market152
Property Features for 5510 Richfield Road
General Information
Standard status
Active
Size
4,552 SF
Lot size
1.89 Acres
Property subtype
Retail
Zoning
C-2 Hwy Commercial
Building Details
Year Built
1977
Buildings
1
Stories
1
Listing Agency:
TDG Commercial
Listed By:
Brock Bean · License #462328
Source:
Crexi
Added: Mar 13
Changed: Aug 11
Last Checked: Aug 10 at 1:06PM
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 TDG Commercial
Investment Insights
Based on property information with market context.
Located on Richfield Road in Flint, Michigan, this 4,552 SF freestanding commercial building is situated on a 1.89-acre site. Formerly a bank branch, the property includes existing drive-through canopy infrastructure, making it suitable for coffee, financial services, pharmacy, or drive-through restaurant businesses. The adaptable interior layout can also accommodate retail, medical office, professional services, or neighborhood service businesses. The property is zoned C-2 Highway Commercial, which allows for a broad range of permitted uses including retail, restaurant, professional office, medical services, automotive uses, and drive-through operations. The 1.89-acre parcel includes a large existing parking field, multiple access points, and frontage along Richfield Road, providing visibility and access. The site configuration supports high-traffic commercial operations and efficient circulation throughout the property. The property benefits from nearby residential density and neighborhood traffic. Convenient access to I-69 and surrounding Flint arterials allows regional connectivity throughout Genesee County.
Key Highlights
- Existing drive‑through infrastructure allows for rapid repositioning.
- Located on a 1.89‑acre site with high visibility and strong frontage along Richfield Road.
- Flexible C‑2 Highway Commercial zoning permits a broad range of uses.
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
$40,362
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
8.97%
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%
$807,240
$807.2K
Cap Rate 7%
$576,600
$576.6K
Cap Rate 9%
$448,467
$448.5K
Market Conditions
NOI Build-Up for 4,552 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
$65.5K $14.40/SF
− Vacancy
−$11.7K −$2.58/SF
EGI
$53.8K $11.82/SF
− OpEx
−$13.5K −$2.96/SF
NOI
$40.4K $8.87/SF
Area
Genesee County, MI
Vacancy
17.90%
Lease Rate
$14.40 /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%
$807,240
Cap Rate 7%
$576,600
Cap Rate 9%
$448,467
Alternative Uses
Best Use
Retail
$675.1K
$590.7K – $787.6K
NOI $47,254 @ 7.0% cap · market cap 10.50%
Second Best
Specialty Retail
$576.6K
$504.5K – $672.7K
NOI $40,362 @ 7.0% cap · market cap 8.97%
Theoretical Best
Office A
$957.9K
$838.1K – $1.12M
NOI $67,050 @ 7.0% cap · market cap 14.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
142
Businesses Nearby
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - 4,552 SF building on 1.89 acres in Flint, Michigan.
Where is this bank located?
The property is located at 5510 Richfield Road Flint, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Existing drive‑through infrastructure allows for rapid repositioning.; Located on a 1.89‑acre site with high visibility and strong frontage along Richfield Road.; Flexible C‑2 Highway Commercial zoning permits a broad range of uses.
