Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Vacant Lot with 3-Car Garage Title is generated by Realmo AI

    105 Jefferson Street, Coleman, MI 48618

    View on Map
    Claim this Listing
    For Sale
    $35,000

    Vacant Land Improved - Coleman, MI

    Lot size:
    0.24 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    50
    Last Refresh:
    May 12 at 10:06 am

    Property Features for 105 Jefferson Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Exterior features
    None, Garage(s)
    Standard status
    Active
    Lot size
    0.24 Acres

    Building Details

    Architectural style
    Other
    Additional Structures
    Garage(s)

    We can help!

    Listing Contact
    Tiffany Sloan-Grocholski

    Listing agent Tiffany Sloan-Grocholski

    Listing office COLDWELL BANKER MT. PLEASANT REALTY 304 E BROADWAY, MT. PLEASANT, MI

    Listing date Mar 24, 2026

    MLS# 1943174 Listing URL

    Copyright © 2026 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Existing 3‑car garage provides immediate storage or hobby space.
    • Garage includes a working heater for year‑round use.
    • 220 electrical service in garage supports workshop activities.
    • In‑town location offers convenient access to local amenities.
    • .248‑acre lot provides future building potential.
    • Vacant lot allows for immediate development or use.

    Overview

    This vacant in-town lot in Coleman features an existing 3-car garage. The property is situated on a 0.248-acre parcel, presenting opportunities for storage, hobby space, or future construction. The garage is equipped with a working heater and 220 electrical service, making it suitable for workshop use or year-round activities. The property benefits from a convenient location with easy access to local amenities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Pharmacy Auto Repair Shop Big Box & Wholesale Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Coleman
    County
    Midland
    State
    Michigan
    Longitude
    -84.586583
    Latitude
    43.759717

    Nearby Similar for Sale

    • $165,000
      2,834 SF

      Turnkey Restaurant Business Opportunity

      Well-established cafe with prime corner-lot commercial building for sale.
      300 E Railway, Coleman, MI 48618
      View Details
    • $120,000

      20.10 Acres Hunting Land

      Recreational land with water, cover, and strong wildlife presence.
      V/L P5 N Magruder Road, Coleman, MI 48618
      View Details
    • $399,000
      1,560 SF

      Coleman Approved Grow Facility

      Municipality-approved green-zoned outdoor/indoor grow facility on 20 acres.
      5802 Samantha Drive, Coleman, MI 48618
      View Details
    • $182,500

      40-Acre Timber Tract for Recreation

      40-acre wooded property ideal for recreation, hunting, or building.
      N Magruder Road, Coleman, MI 48618
      View Details
    • $77,500

      Recreational Land with State Land Access

      10 acres with hardwoods, wildlife, and state land access.
      V/L 10A PC N Magruder Road, Coleman, MI 48618
      View Details
    • $70,000

      10 Acres Near State Land

      10-acre hunting and recreational land bordering state land.
      V/L 10A PB N Magruder Road, Coleman, MI 48618
      View Details
    • $72,500

      Recreational Land Near State Land

      10.05 acres bordering state land with hunting potential.
      V/L 10A P4 N Magruder Road, Coleman, MI 48618
      View Details
    • $72,500

      Recreational Land Near State Land

      10.05 acres bordering state land with hunting potential.
      V/L 10A P2 N Magruder Road, Coleman, MI 48618
      View Details
    • $65,000

      Recreational Land Bordering State Land

      10.05 acres in Midland County with state land access.
      V/L 10A P1 N Magruder Road, Coleman, MI 48618
      View Details
    • $65,000

      Recreational Land Near State Land

      10.05 acres bordering state land, ideal for recreation.
      V/L 10A P3 N Magruder Road, Coleman, MI 48618
      View Details
    • $170,000

      Versatile Vacant Land in Coleman, MI

      Productive land with recreational appeal, ideal for farming or building.
      TBD Dickenson Road, Coleman, MI 48618
      View Details
    • $450,000
      8,000 SF

      Multi-Family Investment Property in Coleman

      Five-unit multi-family property with long-term tenants in Coleman, MI.
      333 Jackson St, Coleman, MI 48618
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - In-town vacant lot with existing 3-car garage.
    Where is this residential land & home lot located?
    The property is located at 105 Jefferson Street Coleman, MI.
    What is the asking price?
    The asking price for this property is $35,000.
    What are key features of this property?
    This property features: Existing 3‑car garage provides immediate storage or hobby space.; Garage includes a working heater for year‑round use.; **220 electrical service in garage supports workshop activities.**
    (989) 944-4167
    We can help!
    Listing Contact
    Tiffany Sloan-Grocholski
    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

    Thank You for Inquiry
    105 Jefferson Street, Coleman, MI 48618
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!