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    Spacious Commercial Office Building on Acres Title is generated by Realmo AI

    4890 Airport Road, Lewiston, MI 49756

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    Claim this Listing
    For Sale
    $399,900

    COMMERCIAL - Lewiston, MI

    Property size:
    3,468 SF
    Lot size:
    17.56 Acres
    Price / SF:
    $115/SF
    Added:
    Feb 13, 2026
    Days on Market:
    97
    Last Refresh:
    May 21 at 3:06 pm

    Property Features for 4890 Airport Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    CV
    Parking features
    Parking Lot
    Basement
    Crawl Space
    Standard status
    Active
    APN
    001-015-000-160-05, 160-01, 160-02, 160-03, 160-04
    Size
    3,468 SF
    Lot size
    17.56 Acres

    Taxes and HOA fees

    Tax Description
    T29N R1E SEC 15 COM SE COR SEC 15, TH S 88D50'50'' W 554.28 ALG S SEC LN & CL AIRPORT RD TO POB. TH CONT S 88D50'50'' W 295.20FT ALG SD LN, TH N 0DEG12'49'' E 295.15FT, TH N 88DEG50'50'' E 295.17 FT, TH S 0DEG12'33'' E 295.15' TO POB. AND PARCELS 1, 2, 3, & 4
    Tax Annual Amount
    4300

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well

    Building Details

    Floors in Building
    1

    We can help!

    Listing Contact
    Kathryn S Parks

    Listing agent Kathryn S Parks License #6502431331

    Listing office Eagle Point Real Estate LLC PO BOX 754, Lewiston, MI

    Listing date Feb 13, 2026

    MLS# 201838791

    Copyright © 2026 Water Wonderland Board of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Spacious 3400+ sq ft commercial building suitable for various uses
    • Large 17.5 acre lot offers expansion or development potential
    • Excellent location near main roads ensures accessibility
    • Features a reception area, large conference room, 6 offices/patient rooms, and multiple bathrooms
    • Equipped with central A/C, natural gas, and available hi‑speed internet
    • Ample parking with a parking lot and attached garage

    Overview

    Located in Lewiston, Michigan, this spacious commercial office building offers over 3400 square feet of space on 17.5 acres. Originally constructed and utilized as a medical clinic, the property is suitable for a variety of other potential uses. The building features a reception area, a large conference room with double doors, six separate offices or patient rooms, printer and flex/file rooms, one full bath, and three half baths, as well as an attached garage. The property includes central air conditioning, natural gas, and access to high-speed internet. Potential uses include veterinary services, medical facilities, office suites, day care, schools, boat storage, and community or government services. The property is located just off one of the main roads in town, providing accessibility. The zoning is CV.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Real Estate Agency Building Supply Dental Office Auto Repair Shop Hair Salon Auto Parts Store Department Store Storage Facility Discount Store Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Lewiston
    County
    Montmorency
    State
    Michigan
    Longitude
    -84.295231
    Latitude
    44.899811

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    FAQs

    What type of property is this?
    Medical Office Space - Large commercial building in Lewiston, Michigan, suitable for various ventures.
    Where is this medical office space located?
    The property is located at 4890 Airport Road Lewiston, MI.
    What is the asking price?
    The asking price for this property is $399,900.
    What are key features of this property?
    This property features: Spacious 3400+ sq ft commercial building suitable for various uses; Large 17.5 acre lot offers expansion or development potential; Excellent location near main roads ensures accessibility
    (989) 306-5350
    We can help!
    Listing Contact
    Kathryn S Parks
    Real Estate License ID: 6502431331
    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.

    More about this property
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