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    2111 Greenwood Rd Prescott, MI 48756

    Sponsored
    For Sale
    $875,000

    Retail Store - Prescott, MI

    Property size:
    12,212 SF
    Lot size:
    1.13 Acres
    Days on Market:
    90
    Last Refresh:
    Feb 3 at 12:06 pm

    Property Features for 2111 Greenwood Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    Rooms
    Basement
    Basement Y/N
    1
    Size
    12,212 SF
    Lot size
    1.13 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1975
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Ruth Anne Clemens
    Ruth Anne Clemens

    COLDWELL BANKER SCHMIDT REALTORS-HL (989) 366-5522

    Listing agent RUTH CLEMENS (989) 366-5522

    Listing date Nov 6, 2025

    MLS# 1940211 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.

    Learn more

    Property Insight Report

    Overview

    Hardware Store in Prescott, MI

    This retail property is a hardware store located in a small town setting. The True Value Hardware store encompasses over 12,000 total square feet, including 8,600 square feet of retail space and over 3,000 square feet of storage and workshop area. The sale includes approximately 28,000 stock keeping units of inventory. The property features a loading dock and has high visibility with 150 feet of frontage on the main road. Situated on over an acre of land, the location is just blocks from the lake. This established business is vested in the community and has no local competition. The property is located in Prescott, MI.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    True Value Bargain ... Building Supply Puff & Stuff (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Pharmacy Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Prescott
    County
    Ogemaw
    State
    Michigan
    Longitude
    -84.040712
    Latitude
    44.183869

    Nearby Similar for Sale

    • $875,000
      12,212 SF

      Hardware Store in Prescott, MI

      Established True Value hardware store with high visibility and year-round income.
      2111 Greenwood Rd, Prescott, MI 48756
      View Details
    • $250,000
      3,312 SF

      Prescott Retail Store with Gas

      Well-maintained country store with gas, beer, wine, and liquor.
      107 S Sage Lake Rd, Prescott, MI 48756
      View Details
    • $250,000
      Pending

      Prescott Country Store with Opportunity

      Well-maintained country store in Prescott, Michigan with diverse offerings.
      107 Sage Lake Rd, Prescott, MI 48756
      View Details
    • $52,000
      2,752 SF

      Former Bar and Restaurant Building

      2752 sq ft commercial building with ample parking.
      2250 E Greenwood Rd, Prescott, MI 48739
      View Details

    FAQs

    What type of property is this?
    Retail space - Established True Value hardware store with real estate and inventory.
    Where is this retail space located?
    The property is located at 2111 Greenwood Rd Prescott, MI.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: - Established True Value Hardware store with **over 8,600 sq ft of retail space** and 28,000 SKUs of inventory included.; - **Prime location:** over an acre of land with 150 feet of frontage on the main road.; - No local competition, offering a strong market position.
    (989) 429-3100
    Request Owner's contact information
    2111 Greenwood Rd Prescott, MI 48756
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    Prescott, MI 48756
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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
    2111 Greenwood Rd Prescott, MI 48756
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    We can help!
    Listing Contact
    Ruth Anne Clemens
    Ruth Anne Clemens
    Real Estate License ID: 6502369433
    (989) 429-3100
    Learn more
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