Renovated Office/Retail Building For
For Sale
Contact for pricing
650 Broadway, Davisburg, MI 48350
Historic building with modern updates, ideal for office or retail.
Property Size5,388 SF
Price / SF$111.36
Days on Market142
Property Features for 650 Broadway
General Information
Standard status
Active
Size
5,388 SF
Property subtype
Retail, Office
Zoning
VC - Village Center
Building Details
Year Built
1902
Year Renovated
2004
Buildings
1
Stories
1
Units
1
Listing Agency:
Insite Commercial
(248) 359-9000
Listed By:
Randy Thomas · License #MI 6502106098
Source:
Crexi
Added: Mar 23
Changed: Aug 8
Last Checked: Aug 9 at 9:53AM
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 Insite Commercial
Investment Insights
Based on property information with market context.
Located at the northeast corner of Broadway and Eaton Rd in Davisburg, MI, this office/retail building blends historic character with modern updates. The property, which once served as Davisburg’s town hall and fire hall, underwent a full renovation in 2004. Overlooking the Shiawassee Basin, the building offers natural views. The property is comprised of two levels, each functioning as independent occupiable spaces. The building provides an abundance of paved parking. The main level features a reception area, six private offices, a conference room, a kitchen, and two restrooms. The lower level includes a reception area, five private offices, three open workstations, and two restrooms. With a total size of 5388 square feet, this property is ideal for professional office users, boutique retailers, or an owner-occupant seeking to utilize the main level while generating income by leasing the lower level.
Key Highlights
- Fully renovated in 2004, blending historic character with modern updates.
- Two independent levels suitable for owner‑occupancy and rental income.
- Located at the high‑visibility corner of Broadway (Davisburg Rd.) and Eaton Rd. (Andersonville Rd.).
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
$18,548
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
3.09%
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%
$370,960
$371.0K
Cap Rate 7%
$264,971
$265.0K
Cap Rate 9%
$206,089
$206.1K
Market Conditions
NOI Build-Up for 5,388 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
$32.3K $6.00/SF
− Vacancy
−$7.6K −$1.41/SF
EGI
$24.7K $4.59/SF
− OpEx
−$6.2K −$1.15/SF
NOI
$18.5K $3.44/SF
Area
Oakland County, MI
Vacancy
23.50%
Lease Rate
$6.00 /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%
$370,960
Cap Rate 7%
$264,971
Cap Rate 9%
$206,089
Alternative Uses
Best Use
Retail
$828.2K
$724.7K – $966.3K
NOI $57,977 @ 7.0% cap · market cap 9.66%
Second Best
Office B
$265.0K
$231.9K – $309.1K
NOI $18,548 @ 7.0% cap · market cap 3.09%
Theoretical Best
Specialty Retail
$1.16M
$1.02M – $1.36M
NOI $81,350 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
Explore this area
Business Placement
Demographics for 48350, MI
7,581
Population
2,893
Households
2.6
Avg Household Size
44
Median Age
36%
College-Educated
96%
High-School Grad
23.8 sq mi
ZIP Area
319
Density / Sq Mi
$108,568
Median Household Income
$46,222
Median Earnings
$1,310
Median Rent
$351,600
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?
Office building - Historic building with modern updates, ideal for office or retail.
Where is this office building located?
The property is located at 650 Broadway Davisburg, MI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Fully renovated in 2004, blending historic character with modern updates.; Two independent levels suitable for owner‑occupancy and rental income.; Located at the **high‑visibility corner of Broadway (Davisburg Rd.) and Eaton Rd. (Andersonville Rd.)**.
