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    15620 W Michigan Avenue Albion, MI 49224

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    Claim this Listing
    For Lease
    $7 SF/Yr $6,066/Mo (calc)

    COMMERCIAL - Albion, MI

    Property size:
    10,400 SF
    Lot size:
    22.85 Acres
    Added:
    Dec 2, 2025
    Days on Market:
    155
    Last Refresh:
    May 6 at 11:06 am

    Property Features for 15620 W Michigan Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Fireplace
    1
    Standard status
    Active
    APN
    000-06-29-376-002-00
    Size
    10,400 SF
    Lot size
    22.85 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    SEC 29 T2S R3W PART SW1/4 COM N0DEG 34'13''W 696.59 FT & S71DEG 01'20''W 636.93 FT FROM S1/4 COR S71DEG 01'20''W 296.77 FT N19DEG 27'10''W 80 FT S70DEG 02'36''W 338.55 FT S89DEG 02'31''W 414.72 FT N04DEG 23'26''E 1170.32 FT TO C/L COMDON RD S76DEG 53'57''E 9 50.4 FT S01DEG 46'E 808.29 FT TO BEG.

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Heating system
    Forced Air
    Water source
    Well

    Building Details

    Year built
    1980

    We can help!

    Listing Contact
    Christy Cottingham

    Listing agent Christy Cottingham License #6501392484

    Listing office ERA Reardon Realty, L.L.C. 910 N West Ave, Jackson, MI

    Listing date Dec 2, 2025

    MLS# 25060438

    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

    Versatile Industrial Property in Albion

    This industrial property, situated in Albion, Michigan, offers versatile leasing options across 22.85 acres. The property includes two buildings, with I-94 views suitable for commercial needs. The front building is designed for office use, while the large structure at the rear can be divided into three distinct spaces. The main building features overhead doors to accommodate trucks and trailers. The property offers diverse opportunities, with the option to lease the buildings separately or together. The large building is available for lease at $7 per square foot, and the front office space is offered at $10 per square foot. The property has a total size of 10,400 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Industrial properties

    Suggested Use

    Big Box & Wholesale Store Auto Parts Store Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Albion
    County
    Calhoun
    State
    Michigan
    Longitude
    -84.692712
    Latitude
    42.26409

    FAQs

    What type of property is this?
    Industrial property - Industrial property with flexible leasing options on 22 acres.
    Where is this industrial property located?
    The property is located at 15620 W Michigan Avenue Albion, MI.
    What is the lease rate?
    The lease rate is $7 SF/Yr.
    What are key features of this property?
    This property features: 22‑acre industrial property with I‑94 visibility.; Two buildings offer versatile leasing options (separately or together).; Main building includes overhead doors for truck/trailer access.
    (517) 937-0826
    We can help!
    Listing Contact
    Christy Cottingham
    Real Estate License ID: 6501392484
    Learn More
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    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
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