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    4027 W CARO Road Caro, MI 48723

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    For Sale
    $295,000

    Real Estate Only - Caro, MI

    Property size:
    5,024 SF
    Lot size:
    4.67 Acres
    Price / SF:
    $58/SF
    Added:
    Sep 2, 2025
    Days on Market:
    248
    Last Refresh:
    May 7 at 7:06 pm

    Property Features for 4027 W CARO Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Agricultural,Commercial,Residential
    Standard status
    Active
    APN
    014015000020001
    Size
    5,024 SF
    Lot size
    4.67 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1776

    Building Details

    Year built
    2000
    Floors in Building
    1
    Building materials
    Metal Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Aimee Powers

    Listing agent Aimee Powers

    Listing office Keller Williams Premier 6521 Citation Dr, Clarkston, MI

    Listing date Sep 2, 2025

    MLS# 20251032475 Listing URL

    Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 5024 sqft Post‑Frame Building with Attached 1224 sqft Apartment + Storage Barn on 5 Acres
    • 3800 sqft Heated Shop/Garage accommodates 9 vehicles and includes a Bathroom & Storage
    • 5‑Acre Splitable Property with Dual Road Frontage
    • Zoned for Residential, Commercial, and Agricultural Use
    • Newer Metal Roofs (2017) on Both Buildings
    • Highly Insulated and Ventilated Building, Adaptable for Many Uses

    Overview

    Versatile Mixed-Use Property in Caro

    This 4.67-acre property features a 5,024 sqft post-frame building with an attached 1,224 sqft one-bedroom apartment and a storage barn. The property offers dual road frontage and is suitable for living, business, or investment. The apartment includes a covered porch/lean-to, an additional storage shed/garage, a separate furnace, and air conditioning. The front portion of the main building comprises a 3,800 sqft heated shop/garage that can accommodate up to nine vehicles. It includes a bathroom, a large storage room, a mechanical room, a separate septic system, and a gas furnace. Previously used as a commercial automotive/paint business, the building is highly insulated, ventilated, and adaptable for many uses. A fenced side yard includes a frost-free spigot. Behind the main structure is an 18x24 barn with lean-to storage on both sides. Both buildings have full electrical service and newer metal roofs installed in 2017. The property is currently zoned residential but approved for residential, commercial, and agricultural use. Juniata Township allows commercial medical marijuana facilities with township approval. The seller is modifying a portion of the shop to include a 10 x 11 garage door and is willing to discuss other modifications. The property offers potential for living and working, renting, building, or splitting the land.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Food Market Farmer's Market Fish Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Caro
    County
    Tuscola
    State
    Michigan
    Longitude
    -83.50607
    Latitude
    43.452038

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    FAQs

    What type of property is this?
    Mixed-use property - 5-acre property with shop, apartment, and storage barn.
    Where is this mixed-use property located?
    The property is located at 4027 W CARO Road Caro, MI.
    What is the asking price?
    The asking price for this property is $295,000.
    What are key features of this property?
    This property features: 5024 sqft Post‑Frame Building with Attached 1224 sqft Apartment + Storage Barn on 5 Acres; 3800 sqft Heated Shop/Garage accommodates 9 vehicles and includes a Bathroom & Storage; 5‑Acre Splitable Property with Dual Road Frontage
    (248) 394-0400
    We can help!
    Listing Contact
    Aimee Powers
    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.

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