Building Details

Building Size 18,426 SF

Year Built 2004

Buildings 2

Stories 2

Tenancy Multi-Tenant

Listing Agency: Signature Associates - Toledo

Listed By: Keenan Fields Show Phone

Source: Cpix.resimplifi

Added: Mar 18 Changed: Sep 9 Last Checked: Sep 11 at 4:33AM

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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 Signature Associates - Toledo

Investment Insights

Based on property information with market context.

These upscale office buildings are located near Kroger Marketplace and are suitable for both medical and professional tenants. The property features quality national and regional tenants with solid credit. The buildings are professionally managed and maintained. The total property size is 18426 square feet. A total operating income and expenses statement (12 months) is available upon signing a confidentiality agreement. The property is located at 7555-7581 Secor Rd, Lambertville, MI, 48144.

Key Highlights

• Upscale office buildings near Kroger Marketplace
• Optimal for medical/professional tenants
• Quality national and regional tenants with solid credit

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

$204,772

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

8.53%

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%

$4,095,440 $4.1M

Cap Rate 7%

$2,925,314 $2.9M

Cap Rate 9%

$2,275,244 $2.3M

Market Conditions

NOI Build-Up for 18,426 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

$325.0K $17.64/SF

− Vacancy

−$52.0K −$2.82/SF

EGI

$273.0K $14.82/SF

− OpEx

−$68.3K −$3.70/SF

NOI

$204.8K $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 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%

$4,095,440

Cap Rate 7%

$2,925,314

Cap Rate 9%

$2,275,244

Alternative Uses

Best Use

Office B

$2.93M

$2.56M – $3.41M (±1% cap)

NOI $204,772 @ 7.0% cap · market cap 8.53%

Second Best

Healthcare Medical

$2.13M

$1.87M – $2.49M (±1% cap)

NOI $149,251 @ 7.0% cap · market cap 6.22%

Theoretical Best

Warehouse

$19.00M

$16.63M – $22.17M (±1% cap)

NOI $1,330,286 @ 7.0% cap · market cap 55.43%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Law Firm Auto Repair Shop Building Supply Auto Parts Store Real Estate Agency HVAC Service

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

Location Intelligence

Trade Area within ½ mile

347

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

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Office building - Office buildings suitable for medical and professional tenants, near Kroger.

Where is this office building located?

The property is located at 7555-7581 Secor Rd Lambertville, MI.

What is the asking price?

The asking price for this property is $2,400,000.

What are key features of this property?

This property features: Upscale office buildings near Kroger Marketplace; Optimal for medical/professional tenants; Quality national and regional tenants with solid credit