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

    695 1St St Harrison, MI 48625

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $214,900

    High-traffic industrial building with income potential.

    Property size:
    2,112 SF

    Property Features for 695 1St St

    General Information

    Property type
    Industrial properties
    Square Feet
    2,112 SF
    Lot Size
    15,246 SF

    Building Details

    Year Built
    1959

    We can help!

    Listing Contact
    Kimberly Kamrow
    Kimberly Kamrow

    Listing Agency: Keller Williams Northern Michigan Listing Agent: Kimberly Kamrow

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This 2,112 square foot commercial building in Harrison, MI, presents a unique investment opportunity. Ideally situated on BUS 127/N. First Street, it boasts excellent visibility and high traffic flow, making it perfect for a variety of businesses. Currently operating as a tanning/beauty salon with a long-term tenant in the rear (pet groomer), the property offers immediate income potential. The main building comprises 1,536 square feet, while the rear unit adds another 576 square feet. Storage needs are supported by a combination of slab, crawlspace, and basement areas. Recent significant mechanical updates and a new roof ensure a move-in ready condition. The seller is offering both the building and the existing business (inventory and equipment), providing a turnkey solution for entrepreneurs and investors alike. Its convenient location near Wilson State Park and the Clare County Fairgrounds adds to its appeal. The 0.35-acre lot provides ample space. This is a rare opportunity to acquire a well-maintained, income-producing property in a desirable location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Smokin' Hott Tanning ... Tanning Salon Picture Perfect Pets Pet Grooming Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrison
    County
    Clare
    State
    Michigan
    Longitude
    -84.80373
    Latitude
    44.0257

    Nearby Similar for Sale

    • $475,000
      1,110 SF

      Liquor Store & House Investment

      Cash-flowing liquor store, house, and license near Houghton Lake.
      8036 N Clare Ave, Harrison, MI 48625
      View Details
    • $524,900
      3,816 SF

      Turnkey Convenience Store Opportunity

      Established convenience store with real estate and thriving food operation.
      4012 N Clare Ave, Harrison, MI 48625
      View Details
    • $175,000
      1,852 SF

      Versatile Commercial Building Near Harrison

      Spacious commercial building with potential for retail, office, or studio.
      3514 N Clare Ave, Harrison, MI 48625
      View Details
    • $229,900
      2,112 SF

      Harrison Retail Building - $229,900

      Turnkey retail space w/ tenant, high traffic location
      695 1St St, Harrison, MI 48625
      View Details
    • $400,000
      6,000 SF

      Harrison Self Storage Facility

      High-Traffic, 52-Unit Storage Business
      3417 Clare Ave, Harrison, MI 48625
      View Details
    • $175,000
      1,200 SF

      Harrison Industrial Property - 3.95 Acres

      Spacious industrial building, ample land, great location.
      3592 Clare Ave, Harrison, MI 48625
      View Details
    • $125,000
      1,440 SF

      acres of state land

      ORV and snowmobile trails
      174 Main St, Harrison, MI 48625
      View Details
    • $198,000
      4,000 SF

      High-Traffic Harrison Restaurant Space

      Prime location, 4000 sq ft, 2.1 acres.
      16 Clare Ave, Harrison, MI 48625
      View Details
    • $135,000
      528 SF

      Harrison Industrial Property - High Traffic Area

      Prime Industrial Lot, High Visibility, Lease in Place
      3020 Clare Ave, Harrison, MI 48625
      View Details
    • $110,000
      1,020 SF

      Harrison Industrial Property: Restaurant & Home

      Turnkey Restaurant & Home Package - Great Location!
      3985 Clare Ave, Harrison, MI 48625
      View Details
    • $249,000
      1,300 SF

      Profitable Harrison Sporting Goods Store

      Established business with strong online sales.
      704 1St St, Harrison, MI 48625
      View Details
    • $68,900
      0.20 Acres

      Harrison Industrial Land - Prime Location

      0.2-acre commercial lot, ideal for development.
      115 1St St, Harrison, MI 48625
      View Details

    FAQs

    What type of property is this?
    Industrial property - High-traffic industrial building with income potential.
    Where is this industrial property located?
    The property is located at 695 1St St Harrison, MI.
    What is the asking price?
    The asking price for this property is $214,900.
    (231) 633-1796
    Request Owner's contact information
    695 1St St Harrison, MI 48625
    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.
    695 1St St
    Harrison, MI 48625
    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
    695 1St St Harrison, MI 48625
    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

    We can help!
    Listing Contact
    Kimberly Kamrow
    Kimberly Kamrow
    Real Estate License ID: 6501373846
    (231) 633-1796 (248) 626-2100 (231) 947-8200
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!