Historic Dryden Building For Sale

Office for Sale
Catylist Listing ID: 30808579
Property Subtypes: Executive Suites, High-Tech, Medical, Net Leased, Office Building
Building Size (RSF): 45,654 SF
Gross Building Area: See Agent
Sale Price: $3,750,000
Unit Price: $82.14 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN)
Building Name: Dryden Building
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: 7.5%
Average Occupancy Rate: 90
Last Updated: 2/28/2023

Overview / Comments

Built in 1902 by W.A. Paterson, Flint's first carriage builder, an automobile manufacturer and one-time mayor of the city. The building went through a major renovation in 2015 and now stands as the premier office space in downtown Flint. Long term leases are in place with tenants on the 2nd, 3rd, and 4th floors. Owner currently occupies the 5th floor executive offices and first floor retail, which presents an opportunity for additional rental income or to be occupied by the buyer.

Attachments & Media


Finance Data Year 2021
Real Estate Taxes - Annual($) $64,000 (Annual)
Tax Value Land $661,288
Assessed Value - Total($) $941,700 (Annual)
Potential Rental Income $601,253 (Annual)
Gross Operating Income $372,000 (Annual)
Net Operating Income $148,000 (Annual)
Actual or Proforma Year Actual
Lender Name N/A

Additional Details

Nearest MSA: Flint
County: Genesee
Taxing Authority: City of Flint
Tax ID/APN: 80-0953566
Property Located Between: Second and Third Street on Saginaw
Property Visibility: Excellent
Highway Access: Easily accessible from I-69 and 475
Airports: Flint Bishop Airport (4 miles)
Area Description: Situated in the heart of Downtown Flint, the Dryden Building is
Total Number of Buildings: 1
Number of Stories: 5
Year Built: 1902
Year Renovated: 2015
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface
Parking Description: 8 parking spots on flat lot next to building and 28 spots across the street.
Total Parking Spaces: 36
Passenger Elevators: 2
Freight Elevators: 2
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Fiber Optic
Interior Description: Interior was designed by a professional interior designer Chatham House Interiors
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,020 106,977 182,356
Median Age: 35.64 34.5 36.15
Households: 3,242 42,851 72,842


Photograph of Listing Agent

Daniel Farrell

Berkshire Hathaway HS Michigan Real Estate - Commercial
CPIX Member
© Copyright 2001-2023 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Commercial Property Information Exchange (CPIX) nor Moody's assume any liability for errors or omissions.