Office Building with
New
For Sale
$375,000
5786 Midland Rd, Freeland, MI 48623
C-2 zoning, private work areas, accessible restrooms, and on-site parking support office and professional service uses.
Property Size1,472 SF
Price / SF$254.76
Days on Market5
Property Features for 5786 Midland Rd
General Information
Standard status
Active
Size
1,472 SF
Class
A
Property subtype
Office
Zoning
C-2
Building Details
Building Size
1,472 SF
Year Built
2017
Buildings
1
Stories
1
Tenancy
Single Tenant
Listing Agency:
CENTURY 21 Signature Realty
(989) 239-5581
Listed By:
Kenneth M. Kujawa · License #6502333762
(989) 239-5581
Source:
Cpix.resimplifi
Added: Aug 17
Changed: Aug 21
Last Checked: Aug 21 at 4:30AM
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 CENTURY 21 Signature Realty
Investment Insights
Based on property information with market context.
Located at 5786 Midland Rd in Freeland, this 1,472-square-foot office building was constructed in 2017. The interior includes four private offices, two handicap-accessible restrooms, and a kitchenette. A large basement adds storage capacity, while the building sits on a spacious lot with room for parking.
The property is positioned just behind Sport Zone and carries C-2 zoning. Its existing layout supports office, professional service, medical, and other business uses identified for the property. The combination of dedicated office rooms, support areas, basement storage, and on-site parking provides a defined commercial configuration for an owner-user or business occupant.
The property is positioned just behind Sport Zone and carries C-2 zoning. Its existing layout supports office, professional service, medical, and other business uses identified for the property. The combination of dedicated office rooms, support areas, basement storage, and on-site parking provides a defined commercial configuration for an owner-user or business occupant.
Key Highlights
- 1,472‑square‑foot office building constructed in 2017
- Four private offices provide a defined workroom layout
- Two handicap‑accessible restrooms and a kitchenette
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
$14,407
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
3.84%
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%
$288,140
$288.1K
Cap Rate 7%
$205,814
$205.8K
Cap Rate 9%
$160,078
$160.1K
Market Conditions
NOI Build-Up for 1,472 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
$22.1K $15.00/SF
− Vacancy
−$2.9K −$1.95/SF
EGI
$19.2K $13.05/SF
− OpEx
−$4.8K −$3.26/SF
NOI
$14.4K $9.79/SF
Area
Saginaw County, MI
Vacancy
13.00%
Lease Rate
$15.00 /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%
$288,140
Cap Rate 7%
$205,814
Cap Rate 9%
$160,078
Alternative Uses
Best Use
Office B
$205.8K
$180.1K – $240.1K
NOI $14,407 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$272.0K
$238.0K – $317.3K
NOI $19,037 @ 7.0% cap · market cap 5.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 48623, MI
15,105
Population
5,495
Households
2.7
Avg Household Size
41
Median Age
33%
College-Educated
96%
High-School Grad
72.8 sq mi
ZIP Area
207
Density / Sq Mi
$96,371
Median Household Income
$54,433
Median Earnings
$1,176
Median Rent
$230,300
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 - C-2 zoning, private work areas, accessible restrooms, and on-site parking support office and professional service uses.
Where is this office building located?
The property is located at 5786 Midland Rd Freeland, MI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,472‑square‑foot office building constructed in 2017; Four private offices provide a defined workroom layout; Two handicap‑accessible restrooms and a kitchenette
