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2473-2517 E Grand River Ave 2,200 SF 66% Leased Office Building Howell, MI 48843 $509,511 CAD ($231.60 CAD/SF) 6.32% Cap Rate



INVESTMENT HIGHLIGHTS
- High visibility with Heavy Road Traffic
- Large Road Signage with Electricity
- Close to downtown Howell
- Total of 3 office spaces with two currently rented to long term tenants
- Parking lot seal coated and relined every 2 years
EXECUTIVE SUMMARY
Fantastic Opportunity Near Downtown Howell! This Commercial Duplex, with high visibility on Grand River Ave, offers two separate business spaces with separate entrances on the main level, as well as a finished basement that has served as a third rentable office space multiple times. Current tenants occupy above ground spaces and have been long term tenants. Spacious parking lot that has been seal coated and relined every two years. Large business signage at the roadside with electrical/lighting. Allstate side offers a beautiful enclosed foyer, reception area, open space and two sizeable offices with glass doors. Doors and baseboard all new as well as updated HVAC for this building 2 years ago. There is also a bathroom and kitchenette and room for storage. Metro by T-Mobile has an accessible entry ramp and has undergone multiple upgrades. Vinyl Plank Flooring throughout and an open concept, light filled space, it also boasts a renovated bathroom in 2024. Lower level has separate entrance in back of building and was renovated in 2021 with drywall, new paint and new carpet. It also has its own bathroom, offers a large open space and additional 2 rooms/ offices. Owner used one side for his personal company prior to selling his business and rented out the other spaces for additional income. Don't miss the opportunity to do the same, or rent out all three! Take your next business venture to this beautiful building at an unbeatable location.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Building Size
2,200 SF
Building Class
C
Year Built
1971
Price
$509,511 CAD
Price Per SF
$231.60 CAD
Cap Rate
6.32%
NOI
$32,195 CAD
Percent Leased
66%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
2,200 SF
Building FAR
0.10
Lot Size
0.50 AC
Zoning
GCD - Professional office space: medical, law, insurance, real estate, etc. Great for retail space. Previously pizza company was also a tenant.
Parking
12 Spaces (5.45 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
1 1
PROPERTY TAXES
| Parcel Number | 11-06-101-022 | Total Assessment | $272,484 CAD (2025) |
| Land Assessment | $0 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $0 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
11-06-101-022
Land Assessment
$0 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$272,484 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
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2473-2517 E Grand River Ave
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