For Sale
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17 W Lawrence St, Pontiac, MI 48342
Mixed-use properties
Property Size10,000 SF
Price / SF$150
Days on Market817
Property Features for 17 W Lawrence St
General Information
Standard status
Active
Size
10,000 SF
Class
B
Property subtype
Multifamily
Investment Type
Stabilized
Building Details
Year Built
1920
Year Renovated
2021
Buildings
1
Stories
2
Units
14
Listing Agency:
Pike Street Properties
Listed By:
Loren Guzik · License #481-012651
Source:
Crexi
Added: Jul 26, 2024
Changed: Oct 13
Last Checked: Oct 20 at 7:17PM
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 Pike Street Properties
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Investment Insights
Based on property information with market context.
Key Highlights
- Fully renovated mixed‑use building with rental upside potential through the conversion of two spaces into apartments.
- Diverse income streams from 5 residential apartments, 3 private offices/studios, 2 commercial studios, a retail unit, and 3 basement artist studios.
- New electrical and upgraded plumbing systems ensure reliability and reduce maintenance costs.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,662
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,453,240
$2.5M
Cap Rate 7%
$1,752,314
$1.8M
Cap Rate 9%
$1,362,911
$1.4M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$232.8K $23.28/SF
− Vacancy
−$9.8K −$0.98/SF
EGI
$223.0K $22.30/SF
− OpEx
−$100.4K −$10.04/SF
NOI
$122.7K $12.27/SF
Area
Oakland County, MI
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,453,240
Cap Rate 7%
$1,752,314
Cap Rate 9%
$1,362,911
Alternative Uses
Best Use
Apartment 5plus
$1.75M
$1.53M – $2.04M
NOI $122,662 @ 7.0% cap · market cap 8.18%
Second Best
Mixed Use
$1.45M
$1.27M – $1.69M
NOI $101,250 @ 7.0% cap · market cap 6.75%
Theoretical Best
Specialty Retail
$2.16M
$1.89M – $2.52M
NOI $150,984 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,218
Businesses Nearby
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Business Placement
Demographics for 48342, MI
18,685
Population
7,559
Households
2.5
Avg Household Size
33
Median Age
10%
College-Educated
76%
High-School Grad
5.2 sq mi
ZIP Area
3,593
Density / Sq Mi
$33,750
Median Household Income
$29,970
Median Earnings
$851
Median Rent
$90,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
Where is this mixed-use property located?
The property is located at 17 W Lawrence St Pontiac, MI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Fully renovated mixed‑use building with rental upside potential through the conversion of two spaces into apartments.; Diverse income streams from 5 residential apartments, 3 private offices/studios, 2 commercial studios, a retail unit, and 3 basement artist studios.; New electrical and upgraded plumbing systems ensure reliability and reduce maintenance costs.
