Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1002 Austin Avenue Albion, MI 49224

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    COMMERCIAL - Albion, MI

    Lot size:
    0.38 Acres
    Added:
    Dec 11, 2020
    Days on Market:
    1963
    Last Refresh:
    Apr 27 at 7:06 am

    Property Features for 1002 Austin Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    5100930800
    Lot size
    0.38 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    ALBION CITY, PLEASANT VIEW ADDITION LOTS 8 - 9 EXC THE N 10 FT THEREOF

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Melissa Kennedy

    Listing agent Melissa Kennedy License #6501385948

    Listing office Coldwell Banker Morehart Realty 719 Capital Ave. SW, Battle Creek, MI

    Listing date Dec 11, 2020

    MLS# 20050414 Listing URL

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Albion Corner Lot Opportunity

    This 0.38-acre vacant corner lot is located in Albion and is available through the Calhoun County Land Bank's Develop This Lot (DTL) program. The DTL program assists buyers interested in acquiring and developing vacant land for housing, commercial, industrial, or mixed-use projects. Prospective buyers are responsible for verifying building and zoning requirements with the local municipality. Offers must include proof of funds and a preliminary questionnaire to be considered. Offers are reviewed on the 1st and 3rd Friday of each month.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Albion
    County
    Calhoun
    State
    Michigan
    Longitude
    -84.771907
    Latitude
    42.256656

    Nearby Similar for Sale

    • $625,000
      3,765 SF

      Prime Commercial Site I-94 Exposure

      High-visibility commercial site off I-94, ideal for various ventures.
      2110 N Concord Road, Albion, MI 49224
      View Details
    • $130,000
      960 SF

      Versatile Commercial/Residential Albion Opportunity

      Adaptable commercial/residential building in Albion, suitable for diverse businesses.
      1302 N Eaton Street, Albion, MI 49224
      View Details
    • $750,000

      Commercial Acreage in Albion, Michigan

      29 acres of commercial land available in Albion, Michigan.
      Parcel 1 N Concord Road, Albion, MI 49224
      View Details
    • $64,900
      800 SF

      Albion Commercial Property for Sale

      Commercial property suitable for a small business, near downtown Albion.
      402 N Superior Street, Albion, MI 49224
      View Details
    • $850,000
      2,825 SF

      Albion Office Building For Sale

      Office building with 2825 square feet of space on 0.39 acres.
      1410 N Eaton Street, Albion, MI 49224
      View Details
    • $850,000
      2,825 SF

      Albion Commercial Property For Sale

      Commercial property in a high-traffic location suitable for various businesses.
      1410 N Eaton Street, Albion, MI 49224
      View Details
    • $1,500,000
      10,400 SF

      Versatile Commercial/Industrial Property on I-94

      22.85 acres with high-visibility frontage, ideal for mixed-use.
      15620 W Michigan Avenue, Albion, MI 49224
      View Details
    • $35,500

      Vacant Lot Near Albion College

      Prime vacant lot near Albion College and downtown district.
      502 E Michigan Avenue, Albion, MI 49224
      View Details
    • $299,999

      Albion Land Investment Opportunity

      26.37 acres near I-94, ideal for development.
      VL W Michigan Avenue, Albion, MI 49224
      View Details
    • $1,500,000
      29,892 SF

      Albion Warehouse/Manufacturing Opportunity

      29,892 SF warehouse/manufacturing building on 2.59 acres, renovated in 2024.
      1100 Industrial Boulevard, Albion, MI 49224
      View Details
    • $750,000

      29 Acres Commercial Land Albion

      29 acres of commercial land with highway access and visibility.
      Parcel 1 N Concord Road, Albion, MI 49224
      View Details
    • $1,500,000
      10,400 SF

      Albion Industrial Property For Sale

      10,400 SF industrial property on 22.85 acres in Albion, MI.
      15620 W Michigan Avenue, Albion, MI 49224
      View Details

    FAQs

    What type of property is this?
    Land - Buildable corner lot available through Calhoun County Land Bank program.
    Where is this land located?
    The property is located at 1002 Austin Avenue Albion, MI.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Buildable corner lot ready for your vision.; Available through Calhoun County Land Bank's Develop This Lot (DTL) program.; DTL program assists with acquiring and developing vacant land.
    (269) 441-8183
    We can help!
    Listing Contact
    Melissa Kennedy
    Real Estate License ID: 6501385948
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!