Office Building with Finished
For Sale
$246,900
811 N Pine Road, Essexville, MI 48732
Stand-alone commercial building with central air, parking, and a flexible layout for office, medical, or retail use.
Property Size1,270 SF
Price / SF$194.41
Days on Market16
Property Features for 811 N Pine Road
General Information
Standard status
Active
Size
1,270 SF
Property subtype
Industrial
Amenities
Central Air
3
Laminate
12599
Building Details
Year Built
1977
Listing Agency:
RE/MAX Results
(989) 239-1118
Listed By:
Stacie Quast · License #6501388920
(989) 239-1118
Source:
Xome
Added: Aug 6
Changed: Aug 20
Last Checked: Aug 21 at 4:32AM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
This stand-alone office building was constructed in 1977 and includes a flexible floor plan, central air, laminate finishes, and a full finished basement. The property can accommodate medical, dental, professional office, or retail use, subject to applicable requirements.
Located at 811 N Pine Road in Essexville, the building offers on-site parking and access to Bay City, nearby communities, and I-75. Its independent building configuration supports owner-occupancy or investment use without relying on a larger commercial complex.
Located at 811 N Pine Road in Essexville, the building offers on-site parking and access to Bay City, nearby communities, and I-75. Its independent building configuration supports owner-occupancy or investment use without relying on a larger commercial complex.
Key Highlights
- Stand‑alone office building constructed in 1977
- Full finished basement adds usable interior space
- Central air and laminate interior finishes
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
$12,975
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
5.26%
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%
$259,500
$259.5K
Cap Rate 7%
$185,357
$185.4K
Cap Rate 9%
$144,167
$144.2K
Market Conditions
NOI Build-Up for 1,270 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
$22.9K $18.00/SF
− Vacancy
−$1.2K −$0.97/SF
EGI
$21.6K $17.03/SF
− OpEx
−$8.7K −$6.81/SF
NOI
$13.0K $10.22/SF
Area
Bay County, MI
Vacancy
5.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
40.00%
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%
$259,500
Cap Rate 7%
$185,357
Cap Rate 9%
$144,167
Alternative Uses
Best Use
Healthcare Medical
$185.4K
$162.2K – $216.3K
NOI $12,975 @ 7.0% cap · market cap 5.26%
Second Best
Office B
$172.4K
$150.9K – $201.2K
NOI $12,070 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$229.9K
$201.2K – $268.2K
NOI $16,093 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
270
Businesses Nearby
Explore this area
Business Placement
Demographics for 48732, MI
11,177
Population
5,329
Households
2.1
Avg Household Size
44
Median Age
21%
College-Educated
94%
High-School Grad
24.6 sq mi
ZIP Area
454
Density / Sq Mi
$53,466
Median Household Income
$36,392
Median Earnings
$759
Median Rent
$160,200
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 - Stand-alone commercial building with central air, parking, and a flexible layout for office, medical, or retail use.
Where is this office building located?
The property is located at 811 N Pine Road Essexville, MI.
What is the asking price?
The asking price for this property is $246,900.
What are key features of this property?
This property features: Stand‑alone office building constructed in 1977; Full finished basement adds usable interior space; Central air and laminate interior finishes
