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

    4587 N Adrian Highway Adrian, MI 49221

    View on Map
    For Sale
    $125,000

    COMMERCIAL - Adrian, MI

    Lot size:
    2.10 Acres
    Added:
    Jan 18, 2026
    Days on Market:
    73
    Last Refresh:
    Apr 1 at 10:06 am

    Property Features for 4587 N Adrian Highway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    RA0-118-3645-00
    Lot size
    2.10 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    LD DES AS BEG 510.01 FT N FROM THE SW COR OF SEC 18 T6S R4E TH N 53.74 FT TO E1/4 COR OF SEC 13 T6S R3E TH N 120.44 FT ALG W LI OF SEC 18 TH N89 43'45''E 525.39 FT; TH S 174.18 FT ALG W LI OF PLAT OF HYDE PARK ESTATES TH S89 54'45''W 525.39 FT TO POB ( SURVEY 2.10 AC)
    TaxAnnualAmount
    570

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Keith Brandt
    Keith Brandt

    Listing agent Keith Brandt License #6502406949

    Listing office Brandt Real Estate 104 W Main Street, Suite 301, Northville, MI

    Listing date Jan 18, 2026

    MLS# 26002148

    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.

    Overview

    Commercial Land Near Region Hospital

    This 2.10-acre commercial lot is located in Raisin Township, with an Adrian mailing address, on the main corridor north of Downtown Adrian. Situated near the newly built Region Hospital, the lot benefits from its location at the heart of much future and current development on state route M-52, also known as Adrian Highway. The surrounding area includes stores, strip centers, and light industry, with more development anticipated. The zoning is C-2 Commercial General Service District, which allows for a wide variety of options, and the lot features over 170 feet of frontage on the state route. Land contract and land lease terms are available. The property is mostly clear, flat, and ready for development. Potential uses include regional commercial applications serving the retail, medical, office, and service needs of the township, city, and county.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Parts Store Department Store Electrical Service (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Adrian
    County
    Lenawee
    State
    Michigan
    Longitude
    -84.003929
    Latitude
    41.951178

    Nearby Similar for Sale

    • $890,000
      3,263 SF

      Turnkey Restaurant in High-Traffic Area

      Restaurant with loyal following near shopping, hotels, and colleges.
      1002 S Main St, Adrian, MI 49221
      View Details
    • $895,000
      16,582 SF

      Versatile Mixed-Use Commercial Space

      Mixed-use property with restaurant, bar, offices, and retail spaces.
      113 E Maumee Street, Adrian, MI 49221
      View Details
    • $250,000
      1,976 SF

      Downtown Adrian Commercial Property For Sale

      Unique commercial property in downtown Adrian with private parking.
      146 Toledo Street, Adrian, MI 49221
      View Details
    • $333,000
      6,720 SF

      Adrian, MI Investment Opportunity

      Commercial/Industrial property with existing leases and potential income.
      725 W Beecher, Adrian, MI 49221
      View Details
    • $525,000
      5,800 SF

      West Adrian Professional Office Building

      Two-level commercial building suitable for medical or office use.
      1542 West Maple, Adrian, MI 49221
      View Details
    • $149,900
      4,507 SF

      Faith Community Ready for Congregation

      Faith community or residential conversion opportunity in Adrian, Michigan.
      227 Greenly, Adrian, MI 49221
      View Details
    • $139,900
      1,780 SF

      Adrian Multi-Family Investment Opportunity

      Three-unit property in Adrian, MI, generating $2,250 monthly income.
      632 Division, Adrian, MI 49221
      View Details
    • $140,000
      23,975 SF

      Former Hospital Redevelopment Opportunity

      Historic building in Adrian, Michigan, suitable for redevelopment.
      120 North Locust, Adrian, MI 49221
      View Details
    • $192,500
      1,632 SF

      Commercial Land in Adrian, MI

      Commercial land with updates on 1+ acre in Adrian.
      1105 E Beecher, Adrian, MI 49221
      View Details
    • $128,000
      2,244 SF

      Adrian Duplex with Income Potential

      Versatile duplex in Adrian, MI, ideal for investors or owner-occupants.
      820 Mulberry, Adrian, MI 49221
      View Details
    • $78,875

      Commercial Lot in Growing District

      1.72-acre commercial lot in Adrian's growing business district.
      2000 W Beecher Street, Adrian, MI 49221
      View Details
    • $239,000
      5,509 SF

      Warehouse and Office Space Available

      Well-maintained warehouse and office space with flexible layout.
      825 Beecher Street, Adrian City, MI 49221
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.10 acres of commercial land near new hospital.
    Where is this commercial land located?
    The property is located at 4587 N Adrian Highway Adrian, MI.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: Prime commercial lot location on M‑52/Adrian Highway in Raisin Township.; Located near the newly built ProMedica Region Hospital, ideal for medical‑related development.; C‑2 Commercial General Service District zoning allows for a wide variety of development options.
    (248) 756-2844
    We can help!
    Listing Contact
    Keith Brandt
    Keith Brandt
    Real Estate License ID: 6502406949
    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!