Hillsdale Commercial Property on
95 W Carleton Road Hillsdale, MI 49242
For Sale
$249,000
COMMERCIAL - Hillsdale, MI
Property Size1,804 SF
Lot Size0.44 Acres
Price / SF$138.03
Days on Market227
Property Features for 95 W Carleton Road
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Standard status
Active
APN
006-222-454-09
Size
1,804 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Per Deed
Tax Annual Amount
3474
Utilities
Utilities
Cable Available
Heating system
Radiant
Building Details
Year built
1950
Listing Agency:
Spieth & Satow Auctions & Real Estate
(517) 439-2528
Listed By:
Darin W Spieth · License #6501348697
(517) 398-6060
Added: Dec 15, 2025
Changed: Apr 15
Last Checked: Jul 30 at 5:06AM
MLS# 25061953
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.
Investment Insights
Based on property information with market context.
This commercial property is located on Carleton Road (M99) in Hillsdale, offering significant traffic exposure. The building, with an area of over 1,800 square feet, has existing utilities and a solid structure that can be used 'as is' or converted for alternative uses. The property features over 140 feet of road frontage and a large amount of existing pavement. The lot size is 0.44 acres.
Key Highlights
- High‑traffic location on Carleton Road (M99) in Hillsdale.
- Solid 1,800+ sq/ft building suitable for immediate use or conversion.
- Over 140 feet of road frontage.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $16.2k | $9.00 |
| − Vacancy | −$1.3k | −$0.72 |
| EGI | $14.9k | $8.28 |
| − OpEx | −$4.5k | −$2.48 |
| NOI | $10.5k | $5.80 |
1,804 SF · lease $9.00/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$149.4K
$130.7K – $174.3K
NOI $10,456 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$286.6K
$250.8K – $334.4K
NOI $20,065 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Kroger Floral Department — 290 W Carleton Rd ste k, Hillsdale, MI 49242
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial property with high traffic and conversion possibilities in Hillsdale.
Where is this storefront property located?
The property is located at 95 W Carleton Road Hillsdale, MI.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: High‑traffic location on Carleton Road (M99) in Hillsdale.; Solid 1,800+ sq/ft building suitable for immediate use or conversion.; Over 140 feet of road frontage.
