Two-Suite Office
For Sale
$169,900
8-9-1550 N Milford Rd, Milford, MI 48381
Lower-level commercial space combines open layouts, tall ceilings, private access, and flexible suite configuration.
Property Size1,547 SF
Price / SF$109.83
Days on Market214
Property Features for 8-9-1550 N Milford Rd
General Information
Standard status
Active
Size
1,547 SF
Additional Details
Floor
Lower Level
Office Units
2
Taxes and HOA fees
Annual Taxes
$5,775
Amenities
ADA bathrooms
Building Details
Tenancy
Multi
Listing Agency:
Havn Real Estate & Appr LLC
(734) 352-1389
Listed By:
Ryan Weston · License #6501375949
(734) 352-1389
Source:
Exprealty
Added: Jan 29
Changed: Aug 29
Last Checked: Aug 30 at 10:01PM
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 Havn Real Estate & Appr LLC
Investment Insights
Based on property information with market context.
This 1,547-square-foot office property includes two lower-level suites arranged with open floorplans, tall ceilings, and a dedicated private entrance. One suite has updated carpeting and interior paint, while the other remains unfinished and is currently used for storage. The second area may be converted into an additional finished office suite, subject to the applicable requirements.
The property is located just north of Downtown Milford on N Milford Rd. Male and female ADA bathrooms provide on-site restroom access for occupants and visitors. The two-suite layout offers a practical configuration for a small business, including professional service users such as real estate, insurance, legal, or accounting firms.
The property is located just north of Downtown Milford on N Milford Rd. Male and female ADA bathrooms provide on-site restroom access for occupants and visitors. The two-suite layout offers a practical configuration for a small business, including professional service users such as real estate, insurance, legal, or accounting firms.
Key Highlights
- 1,547‑square‑foot office property with two lower‑level suites
- Open floorplans, tall ceilings, and a private entrance
- One suite recently updated with new carpeting and interior paint
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
$5,326
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
3.13%
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%
$106,520
$106.5K
Cap Rate 7%
$76,086
$76.1K
Cap Rate 9%
$59,178
$59.2K
Market Conditions
NOI Build-Up for 1,547 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
$9.3K $6.00/SF
− Vacancy
−$2.2K −$1.41/SF
EGI
$7.1K $4.59/SF
− OpEx
−$1.8K −$1.15/SF
NOI
$5.3K $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%
$106,520
Cap Rate 7%
$76,086
Cap Rate 9%
$59,178
Alternative Uses
Best Use
Office B
$76.1K
$66.6K – $88.8K
NOI $5,326 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$333.7K
$292.0K – $389.3K
NOI $23,357 @ 7.0% cap · market cap 13.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
378
Businesses Nearby
Explore this area
Business Placement
Demographics for 48381, MI
13,794
Population
5,588
Households
2.5
Avg Household Size
45
Median Age
45%
College-Educated
96%
High-School Grad
19.5 sq mi
ZIP Area
707
Density / Sq Mi
$103,156
Median Household Income
$61,929
Median Earnings
$1,146
Median Rent
$386,800
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 units - Lower-level commercial space combines open layouts, tall ceilings, private access, and flexible suite configuration.
Where is this office units located?
The property is located at 8-9-1550 N Milford Rd Milford, MI.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: 1,547‑square‑foot office property with two lower‑level suites; Open floorplans, tall ceilings, and a private entrance; One suite recently updated with new carpeting and interior paint
