1755 Sherwin Ct 3,000 SF 68% Leased Office Building Waterford, MI 48327 $300,000 ($100/SF) 16.76% Cap Rate

Owner retiring for health reasons is offering a 5-unit commercial office building in Waterford, MI for purchase or lease, sold strictly as-is, where-is.
This property offers immediate income from an existing tenant and significant upside for an active owner or investor. Four units are currently vacant, providing an opportunity to lease at today’s market rates and substantially increase cash flow and property value.
The building is located adjacent to the Oakland County International Airport, a high-visibility and high-traffic commercial corridor. Potential income - estimated rents from $800–$1,200/month and $125–$200/month NNN portion.
This is an ideal opportunity for an owner-operator or investor seeking a value-add commercial property with strong income potential and minimal seller involvement.
Seller prefers a straightforward cash sale and is open to reasonable offers. Serious inquiries only________________________________________
Key Features:
• Building Size: Office space across 5 units
• Current Occupancy: One tenant pays $940/month under a Triple Net (NNN) lease
• Vacancy: Four vacant units, ideal for leasing at attractive market rates
• Potential Income:
• Current annual gross income: $11,280
• Fully leased annual gross income (estimated): $50,280
? (One unit at $940/month + four units conservatively averaging $800/month each)
• Lease Type: Triple Net (NNN), minimizing landlord expenses and maximizing net income
• Location Highlights: Convenient access to major roads, airport, local amenities, and business hubs
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Investment Highlights:
• Strong Cash Flow: Collect rent immediately from the existing tenant while leasing the remaining vacant units
• Value-Add Opportunity: Increase building value and cash flow by leasing vacant units $800/month
• Owner-Occupant Friendly: Use part of the space for your business while generating rental income to offset costs
• Stable NNN Lease Structure: Passes through most operating expenses to tenants
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Estimated Market Value:
Based on market cap rates of 7% to 10%, the building's value ranges between $450,000 and $643,000 when fully leased. Active owner needed to market and fill vacant units.