Flex Space with Six Access
For Sale
$599,000
922 Eden Rd, Mason, MI 48854
Two-level office configuration complements the property’s commercial space and oversized vehicle access.
Property Size2,480 SF
Lot Size5.00 Acres
Price / SF$241.53
Days on Market13
Property Features for 922 Eden Rd
General Information
Standard status
Active
Size
2,480 SF
Lot size
5.00 Acres
Additional Details
Office Units
9
Taxes and HOA fees
Annual Taxes
$10,069
Building Details
Stories
2
Listing Agency:
Century 21 Affiliated
(517) 230-1458
Listed By:
Rick O'Berry
(517) 230-1458
Source:
Exprealty
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 28 at 1:24PM
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 Century 21 Affiliated
Investment Insights
Based on property information with market context.
This flex-space property encompasses 5 acres and includes office accommodations across two levels. The main floor contains 4 offices, while the second floor provides 5 additional offices, creating a distinct administrative component within the commercial layout.
Vehicle access is supported by 6 doors measuring 14 feet, accommodating equipment and larger vehicles. The property is located at 922 Eden Rd in Mason, Michigan.
Vehicle access is supported by 6 doors measuring 14 feet, accommodating equipment and larger vehicles. The property is located at 922 Eden Rd in Mason, Michigan.
Key Highlights
- 5‑acre commercial property in Mason, Michigan
- 9 offices across two floors: 4 on the main floor and 5 on the second floor
- 6 access doors measuring 14 feet
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
$20,918
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
3.49%
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%
$418,360
$418.4K
Cap Rate 7%
$298,829
$298.8K
Cap Rate 9%
$232,422
$232.4K
Market Conditions
NOI Build-Up for 2,480 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
$35.7K $14.40/SF
− Vacancy
−$7.8K −$3.15/SF
EGI
$27.9K $11.25/SF
− OpEx
−$7.0K −$2.81/SF
NOI
$20.9K $8.43/SF
Area
Ingham County, MI
Vacancy
21.90%
Lease Rate
$14.40 /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%
$418,360
Cap Rate 7%
$298,829
Cap Rate 9%
$232,422
Alternative Uses
Best Use
Office B
$298.8K
$261.5K – $348.6K
NOI $20,918 @ 7.0% cap · market cap 3.49%
Second Best
Warehouse
$243.7K
$213.2K – $284.3K
NOI $17,056 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$398.4K
$348.6K – $464.9K
NOI $27,891 @ 7.0% cap · market cap 4.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Office units
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48854, MI
19,804
Population
7,853
Households
2.5
Avg Household Size
41
Median Age
39%
College-Educated
95%
High-School Grad
113.3 sq mi
ZIP Area
175
Density / Sq Mi
$91,956
Median Household Income
$46,992
Median Earnings
$1,136
Median Rent
$240,600
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?
Flex space - Two-level office configuration complements the property’s commercial space and oversized vehicle access.
Where is this flex space located?
The property is located at 922 Eden Rd Mason, MI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 5‑acre commercial property in Mason, Michigan; 9 offices across two floors: 4 on the main floor and 5 on the second floor; 6 access doors measuring 14 feet
