Sign Up Successful!
You now have access to more from Realmo!
    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

    211 W Erie St Albion, MI 49224

    Sponsored
    For Sale
    Contact for pricing

    LAND - Albion, MI

    Lot size:
    0.15 Acres
    Days on Market:
    63
    Last Refresh:
    Feb 2 at 3:06 pm

    Property Features for 211 W Erie St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    51-001-062-00
    Lot size
    0.15 Acres

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Melissa Kennedy

    Coldwell Banker Morehart Realty (269) 968-9293

    Listing agent Melissa Kennedy (269) 968-9293

    Listing date Dec 2, 2025

    MLS# 22018198

    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.

    Learn more

    Property Insight Report

    Overview

    Vacant Land in Albion, MI

    This vacant land is located in Albion and is a buildable lot on the outskirts of town. The property is available through the Calhoun County Land Bank's Develop This Lot (DTL) program, which assists buyers interested in acquiring and developing vacant land for housing, commercial, industrial, or mixed-use projects. The lot size is 0.15 acres. Buyers are responsible for checking with the local municipality for building and zoning requirements. Offers are reviewed on the 1st and 3rd Friday of each month, and must include proof of funds and a preliminary questionnaire to be considered.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Albion
    County
    Calhoun
    State
    Michigan
    Longitude
    -84.755552
    Latitude
    42.242861

    Nearby Similar for Sale

    • $850,000
      2,825 SF

      Albion Commercial Property For Sale

      Commercial property in a high-traffic location suitable for various businesses.
      1410 N Eaton St, 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 St, Albion, MI 49224
      View Details
    • New
      $84,900
      0.14 Acres

      Albion Multi-Unit Investment Opportunity

      Two-unit home in Albion, Michigan, with investment potential.
      717 N Eaton St, Albion, MI 49224
      View Details
    • $159,900
      0.21 Acres

      Albion Duplex Near College

      Albion duplex near college, great investment opportunity, instant income!
      410 Bidwell St, 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 Blvd, Albion, MI 49224
      View Details
    • $40,000
      1,193 SF

      Versatile Commercial Building in Albion

      Commercial building on busy road, suitable for retail or office.
      16987 W Michigan Ave, Albion, MI 49224
      View Details
    • $419,000
      6,000 SF

      Retail Space Near I-94

      6,000 SF retail space with high visibility and ample parking.
      1402 N Eaton St, Albion, MI 49224
      View Details
    • $850,000

      Commercial Property Near I-94

      Commercial property with parking, suitable for various businesses, near I-94.
      1410 N Eaton St, Albion, MI 49224
      View Details
    • $69,900
      2,349 SF

      Albion Commercial Space - Prime Location

      Versatile Downtown Albion Building - Motivated Seller
      118 Vine St, Albion, MI 49224
      View Details
    • $399,000
      27,044 SF

      Albion Industrial Building For Sale

      Spacious industrial warehouse near I-94.
      904 Clark St, Albion, MI 49224
      View Details
    • $2,350,000
      72,118 SF

      Albion Hotel: Prime Investment Opportunity

      62-Room Hotel, 72,118 sq ft, Michigan
      27644 C-Drive, Albion, MI 49224
      View Details
    • $250,000
      3,200 SF

      Albion Pharmacy - Turnkey Opportunity

      Prime Albion retail space, drive-thru, basement storage.
      120 Clark St, Albion, MI 49224
      View Details

    FAQs

    What type of property is this?
    Land - Buildable vacant land available through Calhoun County Land Bank program.
    Where is this land located?
    The property is located at 211 W Erie St Albion, MI.
    What is the asking price?
    The asking price for this property is $2,500.
    What are key features of this property?
    This property features: - Buildable vacant land in Albion, ready for your vision.; - Available through Calhoun County Land Bank's Develop This Lot (DTL) program.; - DTL program assists with housing, commercial, industrial, or mixed-use projects.
    (269) 441-8183
    Request Owner's contact information
    211 W Erie St Albion, MI 49224
    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.
    211 W Erie St
    Albion, MI 49224
    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
    211 W Erie St Albion, MI 49224
    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

    We can help!
    Listing Contact
    Melissa Kennedy
    Real Estate License ID: 6501385948
    (269) 441-8183
    Learn more
    Google sign-in failed. Please try again or use another login method.