Renovated Office Building with 9-Foot
For Sale
$299,000
8127 Miller Road, Swartz Creek, MI 48473
COM/IND/BUS OPP, Swartz Creek, MI
Property Size1,020 SF
Lot Size0.18 Acres
Price / SF$293.14
Days on Market101
Property Features for 8127 Miller Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Rooms
Basement
Subdivision
Brady & Hedglen Sub
Lot features
Main Street
Standard status
Active
APN
58-02-527-001
Size
1,020 SF
Lot size
0.18 Acres
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Roof type
Flat
Listing Agency:
Keller Williams First · Keller Williams Realty
(810) 515-1503
Listed By:
Michele Papatheodore · License #123319
(810) 516-3060
Added: May 12
Changed: Aug 19
Last Checked: Aug 20 at 11:06PM
MLS# 50207355
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully renovated commercial property offers raised 9-foot ceilings and updated finishes, including a luxury bathroom with a floating vanity and slate-style vinyl tile. A modern kitchenette features soft-close shaker cabinets and quartz countertops. The exterior includes new James Hardie siding, an Amish-built roof installed about 2.5 years ago, and a full commercial drip cap. The layout includes one front entrance and two in the rear, with a back room that has existing exhaust and venting for a commercial kitchen and is currently used for storage and ready for conversion. Ductwork has been professionally cleaned and sanitized by Amistee.
Located at 8127 Miller Road in Swartz Creek, the building sits directly across from a newly remodeled funeral home. A brand-new state-of-the-art baseball diamond is also described as going in nearby.
Located at 8127 Miller Road in Swartz Creek, the building sits directly across from a newly remodeled funeral home. A brand-new state-of-the-art baseball diamond is also described as going in nearby.
Key Highlights
- Heated and cooled by forced air heating and central air conditioning
- Flat roof with a 2.5‑year‑old Amish‑built roof and full commercial drip cap
- 9‑foot ceilings (raised from 7.5 feet) plus newly installed James Hardie siding
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
$11,237
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
3.76%
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%
$224,740
$224.7K
Cap Rate 7%
$160,529
$160.5K
Cap Rate 9%
$124,856
$124.9K
Market Conditions
NOI Build-Up for 1,020 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
$17.4K $17.04/SF
− Vacancy
−$2.4K −$2.35/SF
EGI
$15.0K $14.69/SF
− OpEx
−$3.7K −$3.67/SF
NOI
$11.2K $11.02/SF
Area
Genesee County, MI
Vacancy
13.80%
Lease Rate
$17.04 /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%
$224,740
Cap Rate 7%
$160,529
Cap Rate 9%
$124,856
Alternative Uses
Best Use
Office B
$160.5K
$140.5K – $187.3K
NOI $11,237 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$214.6K
$187.8K – $250.4K
NOI $15,024 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9 ft
Clear height
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
Explore this area
Business Placement
Demographics for 48473, MI
22,035
Population
9,853
Households
2.2
Avg Household Size
45
Median Age
25%
College-Educated
95%
High-School Grad
56.2 sq mi
ZIP Area
392
Density / Sq Mi
$76,765
Median Household Income
$40,908
Median Earnings
$1,092
Median Rent
$191,700
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 - Fully renovated interior features raised 9-foot ceilings, modern kitchenette, and existing exhaust/venting for a commercial kitchen.
Where is this office units located?
The property is located at 8127 Miller Road Swartz Creek, MI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Heated and cooled by forced air heating and central air conditioning; Flat roof with a 2.5‑year‑old Amish‑built roof and full commercial drip cap; 9‑foot ceilings (raised from 7.5 feet) plus newly installed James Hardie siding
