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

    302 N Pine River Street Ithaca, MI 48847

    View on Map
    For Sale
    $160,000

    4 - Plex, 2 Story - Ithaca, MI

    Property size:
    2,550 SF
    Lot size:
    0.15 Acres
    Added:
    Mar 16, 2026
    Days on Market:
    18
    Last Refresh:
    Apr 2 at 4:06 am

    Property Features for 302 N Pine River Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Residential
    Rooms
    Basement, Dining Room, Kitchen, Living Room
    Parking
    1
    Parking features
    None
    Interior features
    Drywall
    Basement Y/N
    1
    Appliances
    Range, Refrigerator
    Standard status
    Active
    Size
    2,550 SF
    Lot size
    0.15 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    2769.17

    Utilities

    Heating system
    Forced Air

    Building Details

    Floors in Building
    2
    Number of units
    4
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Cheryl Reeves

    Listing agent Cheryl Reeves

    Listing office AMERICA'S CHOICE REALTY LLC 1212 E. Center Street, Ithaca, MI

    Listing date Mar 16, 2026

    MLS# 1943019 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.

    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Ithaca
    County
    Gratiot
    State
    Michigan
    Longitude
    -84.607282
    Latitude
    43.29455

    Nearby Similar for Sale

    • $249,000
      4,785 SF

      Ithaca Commercial Property with Flexibility

      Versatile commercial building with 20 rooms and 7 bathrooms.
      820 N Pine River Street, Ithaca, MI 48847
      View Details
    • $2,500,000
      5,500 SF

      Steel Art Studio and Retail

      Thriving artisan enterprise with retail destination in Ithaca, Michigan.
      5348 S Bagley Road, Ithaca, MI 48847
      View Details
    • $99,900
      1,400 SF

      Ithaca Duplex with Rental History

      Well-maintained duplex with strong rental history on spacious corner lot.
      501 N Pine River Street, Ithaca, MI 48847
      View Details
    • $85,000
      952 SF

      Versatile Commercial Building, Ithaca, MI

      High-visibility corner lot suitable for various business ventures.
      725 E Center, Ithaca, MI 48847
      View Details
    • $99,000
      1,890 SF

      High-Visibility Corner Commercial Building

      1,890 SF single-story building ideal for retail or service businesses.
      1126 E Center Street, Ithaca City, MI 48847
      View Details
    • $645,000
      36,614 SF

      Versatile Industrial Building in Ithaca

      36,614 SF building with office space and drive-in doors.
      212 South Pine River Street, Ithaca, MI 48847,
      View Details
    • $959,850
      9,014 SF

      Dollar General in Ithaca, MI

      Dollar General property in Ithaca, MI for sale.
      1202 E Center St, Ithaca, MI 48847
      View Details
    • $125,000

      Ithaca Multi-Unit Home For Sale

      Multi-unit home in Ithaca with tenant-paid utilities.
      928 E Emerson St, Ithaca, MI 48847
      View Details
    • $249,000
      4,785 SF

      Versatile Commercial Building in Ithaca

      Adaptable 4,875 SF commercial space suitable for various businesses.
      820 N Pine River St, Ithaca, MI 48847
      View Details
    • $1,000,000
      3,350 SF

      Operating Restaurant Building For Sale

      3,350 SF operating restaurant with redevelopment potential in Ithaca, MI.
      1335 E Center St, Ithaca, MI
      View Details
    • $1,000,000
      3,350 SF

      Operating Restaurant Building For Sale

      3,350 SF restaurant building for sale on E Center Street.
      1335 E Center St, Ithaca, MI 48847
      View Details

    FAQs

    Where is this quadplex located?
    The property is located at 302 N Pine River Street Ithaca, MI.
    What is the asking price?
    The asking price for this property is $160,000.
    What are key features of this property?
    This property features: Great investment opportunity with 4 units.; Newer kitchens and bathrooms in multiple units.; Unit #3 is vacant and partially updated, ready for quick tenant placement.
    (989) 388-3121
    We can help!
    Listing Contact
    Cheryl Reeves
    Real Estate License ID: 6501292615
    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!