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

    1605 BOOKNESS Midland, MI 48640

    View on Map
    Claim this Listing
    For Sale
    $200,000

    Commercial/Industrial - Midland, MI

    Property size:
    2,488 SF
    Lot size:
    0.53 Acres
    Price / SF:
    $80/SF
    Added:
    Apr 5, 2024
    Days on Market:
    751
    Last Refresh:
    Apr 25 at 3:06 am

    Property Features for 1605 BOOKNESS

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Mixed Use
    Interior features
    220 Volt Power, Bath, Cable Internet Installed, Concrete Floor, Delivery Area, Display Window, Electric Available, Occupied, Showroom, Trash Removal, Unfinished Floor
    Exterior features
    Additional Bldg(s), Delivery Door, Outbuilding(s), Sidewalks
    Standard status
    Active
    APN
    14-16-70-552
    Size
    2,488 SF
    Lot size
    0.53 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    2273

    Utilities

    Utilities
    Electricity Available
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1936
    Building materials
    Block
    Architectural style
    Other
    Additional Structures
    Outbuilding

    We can help!

    Listing Contact
    Patrick Devereaux

    Listing agent Patrick Devereaux License #6501180276

    Listing office RE/MAX New Image 1668 Midland Rd, Saginaw, MI

    Listing date Apr 5, 2024

    MLS# 50137947 Listing URL

    Copyright © 2026 Saginaw Board of 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.

    Overview

    Profitable Business in Midland, MI

    This property, located in Midland, MI, has been the site of a business for over a century. The building, situated on a 0.53-acre lot, is reported to be in good condition and contains 2,488 square feet of space. The property is zoned for mixed use. The business has a history of profitability and a substantial client base. Part-time employees contribute artistic skills to creating decorations. The inventory value is estimated between $15,000 and $25,000, available at an additional cost.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lapelle's Flowers & Gifts (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Similar Places Nearby

    • Lapelle's Flowers & Gifts — 1605 Bookness St, Midland, MI 48640

    Location Insight

    • Map
    • Local Demand
    City
    Midland
    County
    Midland
    State
    Michigan
    Longitude
    -84.24579
    Latitude
    43.62226

    Nearby Similar for Sale

    • $842,500
      14,228 SF

      Midland Commercial/Industrial Building For Sale

      Office/warehouse building with cold storage and high visibility.
      49 E ISABELLA, Midland, MI 48640
      View Details
    • $464,500
      9,678 SF

      Versatile Commercial Property with Warehouse

      High-visibility corner lot with warehouse and office space in Midland.
      3101 S Saginaw, Midland, MI 48640
      View Details
    • $329,000
      1,000 SF

      Downtown Midland Commercial Property For Sale

      Prime commercial property in downtown Midland with high visibility.
      134 W Main, Midland, MI 48640-5156
      View Details
    • $995,000
      6,000 SF

      Midland Commercial Property with Drive-Up

      Commercial property in Midland, MI with leased space and drive-up.
      2706 N Saginaw, Midland, MI 48640
      View Details
    • $995,000
      6,000 SF

      Updated Commercial Building Near Hospital

      Versatile 6,000 sq ft commercial space near hospital.
      2706 N Saginaw, Midland, MI 48640
      View Details
    • $329,900
      2,015 SF

      Turnkey Duplex in Midland

      Income-producing duplex near downtown Midland, with flexible lease options.
      428/430 Hemlock, Midland, MI 48642-6045
      View Details
    • $1,200,000
      4,000 SF

      Established Restaurant Landmark in Midland

      Operating restaurant with bar, updated interior, ample parking.
      1716 W WACKERLY, Midland, MI 48640
      View Details
    • $225,000
      1,135 SF

      Midland Office Building For Sale

      Office building in Midland, MI with leaseback opportunity.
      402 Bayliss, Midland, MI 48640
      View Details
    • $849,000
      10,361 SF

      Riverfront Multi-Family Home in Midland

      Spacious riverfront property with potential for various uses.
      3115 Isabella, Midland, MI 48640
      View Details
    • $999,750
      14,480 SF

      Professional Office Complex For Sale

      Professional office complex with long-term tenants in excellent condition.
      720 W WACKERLY, Midland, MI 48640
      View Details
    • $999,000
      8,786 SF

      Midland Retail Building For Sale

      Retail building in Midland CBD with redevelopment potential.
      201 McDonald Street, Midland, MI, 48640
      View Details
    • $355,000
      6,600 SF

      Turn Key Restaurant/Bar Opportunity

      6600 sq ft restaurant/bar with Class "C" liquor license.
      430 W ISABELLA Road, Lee Township, MI 48640
      View Details

    FAQs

    What type of property is this?
    Storefront property - Established business opportunity with a long history and loyal clientele.
    Where is this storefront property located?
    The property is located at 1605 BOOKNESS Midland, MI.
    What is the asking price?
    The asking price for this property is $200,000.
    What are key features of this property?
    This property features: Very profitable business with lots of clients.; Business has been established for over 100 years.; Building is in good condition.
    (989) 280-2622
    We can help!
    Listing Contact
    Patrick Devereaux
    Real Estate License ID: 6501180276
    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!