Current Use by Public Records
- The Law Offices of Steven Ruza / Law Firm / Financial Advisor
- Staffing Tree Llc-Sylvan Lake / Employment Agency
- High Performance Sports and Apparel / (Bike/Boat/Book/etc) Store
- Inside Realty LLC / Real Estate Agency
- Jennice Hayes, Inside Realty, LLC / Real Estate Agency
Property Details for 1877 Orchard Lake Rd
- Year built
- 1971
- Lot size
- 0.93 lot acres
- Property type
- Office Spaces
- Property subtype
- Mixed-use properties
Description
This exceptional mixed-use investment opportunity presents two professional office buildings totaling 17,920 square feet, situated on a 0.93-acre lot at the highly visible intersection of Orchard Lake Road and Telegraph Road in Sylvan Lake, Michigan. Built in 1971 and thoughtfully updated over the years, the property boasts two buildings, each offering 8,960 square feet across two stories. The buildings feature well-lit underground parking and renovated above-ground parking lots, providing ample parking for tenants and visitors. Currently, the property enjoys an 80% occupancy rate, with 25 office suites of varying sizes. One building is fully occupied, while the other has two vacant suites and two individual office spaces available for immediate lease or owner-occupancy. The property offers a compelling net lease investment opportunity with a 7.69% cap rate and a current net operating income (NOI) of $115,309. The property is zoned commercial and has a parcel number of 1906107029. This established property has been under the same ownership for over 22 years, presenting a rare chance for an owner-user to establish or expand their business in a thriving location. The asking price is $1,500,000.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sylvan Lake
- County
- Oakland
- State
- Michigan
- Longitude
- -83.3233
- Latitude
- 42.6163
