Brick Flex Space with C-2
New
For Sale
$419,000
5510 Richfield Road, Flint, MI 48506
COM/IND/BUS OPP, Flint, MI
Property Size4,600 SF
Lot Size1.80 Acres
Price / SF$92.05
Days on Market3
Property Features for 5510 Richfield Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Professional Office, Commercial
Parking features
Parking Lot
Security features
Security Lighting
Exterior features
Security Lighting
Lot features
Bus Service Near Site, Main Street
Subdivision
Genesee Twp (25010)
Standard status
Active
APN
11-35-400-015
Size
4,552 SF
Lot size
1.80 Acres
Taxes and HOA fees
Tax Annual Amount
11742
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1976
Roof type
Flat
Listing Agency:
Ham Group Realty
(810) 659-6569
Listed By:
Lucy Ham · License #122522
(810) 659-6569
Added: Aug 25
Changed: Aug 27
Last Checked: Aug 27 at 8:06PM
MLS# 50219958
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick flex-space property contains 4,552 square feet on 1.8 acres and was built in 1976. The building has a flat roof replaced in 2023 with a Duro Last system backed by a 20-year warranty. Interior functionality is supported by central air and forced-air heating, while security lighting adds an exterior operational feature.
Positioned along 4-lane Richfield Road in Flint, the property is less than one mile from Davison. C-2 zoning supports the stated commercial positioning, with the source describing potential applications spanning retail, office, and light industrial activity. A parking lot accommodates over 50 vehicles, and the site includes drive-through potential. Public water service is available, and immediate occupancy is offered.
Positioned along 4-lane Richfield Road in Flint, the property is less than one mile from Davison. C-2 zoning supports the stated commercial positioning, with the source describing potential applications spanning retail, office, and light industrial activity. A parking lot accommodates over 50 vehicles, and the site includes drive-through potential. Public water service is available, and immediate occupancy is offered.
Key Highlights
- 4,552‑square‑foot brick flex‑space building on 1.8 acres
- C‑2‑zoned property on 4‑lane Richfield Road, less than a mile from Davison
- Parking lot accommodates over 50 vehicles
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
$25,781
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
6.15%
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%
$515,620
$515.6K
Cap Rate 7%
$368,300
$368.3K
Cap Rate 9%
$286,456
$286.5K
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
$41.0K $9.00/SF
− Vacancy
−$4.1K −$0.91/SF
EGI
$36.8K $8.09/SF
− OpEx
−$11.0K −$2.43/SF
NOI
$25.8K $5.66/SF
Area
Genesee County, MI
Vacancy
10.10%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$515,620
Cap Rate 7%
$368,300
Cap Rate 9%
$286,456
Alternative Uses
Best Use
Industrial
$368.3K
$322.3K – $429.7K
NOI $25,781 @ 7.0% cap · market cap 6.15%
Second Best
Flex RnD
$364.8K
$319.2K – $425.6K
NOI $25,536 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$957.9K
$838.1K – $1.12M
NOI $67,050 @ 7.0% cap · market cap 16.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
61
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 Industrial 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?
Flex space - Brick commercial building offering adaptable space, central air, forced-air heating, and immediate occupancy on a public-water system.
Where is this flex space located?
The property is located at 5510 Richfield Road Flint, MI.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: 4,552‑square‑foot brick flex‑space building on 1.8 acres; C‑2‑zoned property on 4‑lane Richfield Road, less than a mile from Davison; Parking lot accommodates over 50 vehicles
