Property profile

415 Jerome St Midland, MI 48640

OFF-MARKET
Office buildings
Property ID
US43-2411186
1,176 SF 0.17 ac lot Built 1937
Entity Owned 4-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 1,176 square foot industrial property presents a unique development opportunity in the thriving city of Midland, Michigan. Situated on a 0.6-acre lot, this strategically located site boasts significant frontage on Jerome (M-20), Indian (Bus 10), and Buttles streets, ensuring high visibility and accessibility. Average daily traffic counts range from 10,000 to 18,000 vehicles, depending on the specific intersection, providing unparalleled exposure for any future development. The property currently generates income via a small office space leased on a month-to-month basis, offering a potential revenue stream while development plans are finalized. This versatile property is zoned for mixed use, opening up a wide range of possibilities for redevelopment. Its prime location and high traffic volume make it an ideal investment for developers seeking a high-impact project in a dynamic market. The existing office building provides immediate income potential, allowing for a phased approach to development. This is a rare chance to acquire a highly visible and strategically located property in the heart of Midland, ready for its next chapter. The property's mixed-use zoning allows for a variety of development options, catering to a diverse range of potential uses. Don't miss this opportunity to capitalize on the potential of this exceptional location.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1937
Total area 1,176 SF
Lot 0.17 ac (7,405 SF)
Zoning code CC
APN 14-16-60-604
UPID US43-2411186

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Employment Agency
  • Publishing House

Location

415 Jerome St Midland, MI 48640-4960
Midland metro Census 290100 MIDLAND, MI MICROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$295k

Owner & transaction history

since 2022
2 recorded transactions
2022
Price N/A
2021
Price N/A

Zoning & alternative use

CC · Midland, MI
Zoning description

2. CC - Community Center District The purpose of the Community Center District is to provide for commercial and mixed-use developments that offer a broad range of goods and services to meet the convenience and comparison…

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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