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Building Details

Year Built 1981

Year Renovated 2021

Buildings 1

Stories 1

Units 10

Tenancy Multi

Construction brick masonry

Listing Agency: Wiens & Roth Real Estate

Listed By: Wiens & Roth · License #6504386409

Source: Crexi

Added: Jul 31 Changed: Sep 14 Last Checked: Oct 14 at 9:57PM

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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 Wiens & Roth Real Estate

Investment Insights

Based on property information with market context.

This single-story brick office property was built in 1981 and includes one larger front suite alongside nine smaller professional office units. The building has undergone updates over time, including a roof replacement in 2021, renovation of the anchor suite in 2023, and improvements to the accessible entrance ramp and deck. Water, sewer, electric, and gas service are in place, and 37 surface parking spaces support the 10-unit configuration.

The property is fully leased under a full-service gross structure and is zoned C-1 Commercial. Exterior features include a newer brown shingle roof, green architectural trim, and landscaped areas along the building frontage.

Key Highlights

• 100% leased office property with full‑service gross lease structure
• 10‑unit layout with one larger front suite and nine private offices
• 37 surface parking spaces serve the building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,011

Cap Rate

9.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,120,220 $1.1M

Cap Rate 7%

$800,157 $800.2K

Cap Rate 9%

$622,344 $622.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,040 SF

Gross rent

$88.9K $17.64/SF

− Vacancy

−$14.2K −$2.82/SF

EGI

$74.7K $14.82/SF

− OpEx

−$18.7K −$3.70/SF

NOI

$56.0K $11.11/SF

Area

Monroe County, MI

Vacancy

16.00%

Lease Rate

$17.64 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,120,220

Cap Rate 7%

$800,157

Cap Rate 9%

$622,344

Alternative Uses

Best Use

Office B

$800.2K

$700.1K – $933.5K (±1% cap)

NOI $56,011 @ 7.0% cap · market cap 9.18%

Second Best

—

—

no second resolved use

Theoretical Best

Warehouse

$5.20M

$4.55M – $6.06M (±1% cap)

NOI $363,868 @ 7.0% cap · market cap 59.65%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Knowles James PHD Physician Hadley Jr Harry ... Alternative Medicine Practice Serenity Realty S.E. ... Real Estate Agency DiSalle Real Estate ... Real Estate Agency Lehmann Robin Real Estate Agency

Suggested Use

Top Pick Law Firm Dental Office Real Estate Agency Hair Salon Building Supply Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

10

Office units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

96

Businesses Nearby

Explore this area Business Placement

Demographics for 48144, MI

10,331

Population

4,179

Households

2.5

Avg Household Size

46

Median Age

31%

College-Educated

95%

High-School Grad

7.9 sq mi

ZIP Area

1,308

Density / Sq Mi

$97,371

Median Household Income

$48,077

Median Earnings

$1,116

Median Rent

$241,200

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Frequently Asked Questions

What type of property is this?

Office building - C-1 Commercial property with private offices, dedicated parking, and active full-service gross leases.

Where is this office building located?

The property is located at 6588 SECOR RD Lambertville, MI.

What is the asking price?

The asking price for this property is $610,000.

What are key features of this property?

This property features: 100% leased office property with full‑service gross lease structure; 10‑unit layout with one larger front suite and nine private offices; 37 surface parking spaces serve the building