Building Details

Year Built 1900

Listing Agency: Move MI Realty LLC m***@gmail.com Show Phone

Listed By: Kristine Schmitt

Source: Xome

Added: Jul 24 Changed: Aug 25 Last Checked: Aug 26 at 6:10AM

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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 Move MI Realty LLC

Investment Insights

Based on property information with market context.

These office units offer a flexible configuration for a large office or multiple smaller offices with a shared community area. The space is also described as suitable for office, retail, or small-business use. Built in 1900, the property fronts M-19 and is positioned at the corner of two streets. A small park is located across the street, providing an outdoor setting for lunch breaks or small meetings. Parking is available through a public parking lot and roadside spaces along the building. The layout supports either an owner-user operation or individual office rentals, as described in the property information.

Key Highlights

• Frontage on M‑19
• Flexible layout for a large office or multiple smaller offices
• Shared community area for office users

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

$4,131

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

3.30%

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%

$82,620 $82.6K

Cap Rate 7%

$59,014 $59.0K

Cap Rate 9%

$45,900 $45.9K

Market Conditions

NOI Build-Up for 1,200 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

$7.2K $6.00/SF

− Vacancy

−$1.7K −$1.41/SF

EGI

$5.5K $4.59/SF

− OpEx

−$1.4K −$1.15/SF

NOI

$4.1K $3.44/SF

Area

St. Clair 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%

$82,620

Cap Rate 7%

$59,014

Cap Rate 9%

$45,900

Alternative Uses

Best Use

Retail

$221.6K

$193.9K – $258.5K (±1% cap)

NOI $15,512 @ 7.0% cap · market cap 12.41%

Second Best

Office B

$59.0K

$51.6K – $68.9K (±1% cap)

NOI $4,131 @ 7.0% cap · market cap 3.30%

Theoretical Best

Multifamily LT 5

$902.1K

$789.4K – $1.05M (±1% cap)

NOI $63,148 @ 7.0% cap · market cap 50.52%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Office Units

Suggested Use

Top Pick Plumbing Service (Bike/Boat/Book/etc) Store Real Estate Agency Law Firm Storage Facility Big Box & Wholesale Store

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

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

133

Businesses Nearby

Explore this area Business Placement

Demographics for 48041, MI

4,332

Population

1,838

Households

2.4

Avg Household Size

45

Median Age

17%

College-Educated

93%

High-School Grad

40.0 sq mi

ZIP Area

108

Density / Sq Mi

$87,599

Median Household Income

$50,551

Median Earnings

$867

Median Rent

$296,200

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 units - Flexible layout supports a large office or multiple smaller offices with a shared community area.

Where is this office units located?

The property is located at 80811 Main Street Memphis, MI.

What is the asking price?

The asking price for this property is $125,000.

What are key features of this property?

This property features: Frontage on M‑19; Flexible layout for a large office or multiple smaller offices; Shared community area for office users