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    427 Steer St Addison, MI 49220

    Sponsored
    For Sale
    $800,000

    7.2 Acres, 12,235 SF Building, High Power

    Property size:
    12,235 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    341
    This exceptional 7.2-acre property in Addison, MI, presents a remarkable investment opportunity. The site boasts approximately 875 feet of frontage on the serene Addison Mill Pond, offering picturesque views and potential for various developments. The property includes a substantial 12,235-square-foot building, formerly the Addison Bariatric Hospital, featuring a robust 500-kilowatt transformer with 3-phase power and 208 volts. This significant power capacity opens doors to a wide range of industrial or commercial uses. In addition to the main building, a secondary 1,800-square-foot structure generates a consistent monthly income of $2,000 through an existing lease. The property's expansive size and prime location make it ideal for diverse development projects, including multi-family housing, senior living facilities, self-storage units, or other commercial ventures. The tranquil setting, combined with the substantial existing infrastructure, creates a unique opportunity for significant return on investment. All square footage and income figures are estimates and should be independently verified. This is a rare chance to acquire a large, versatile property with substantial existing structures and significant development potential in a desirable location. The property is priced at $800,000.

    Property Features for 427 Steer St

    General Information

    Property type
    Industrial properties
    Square Feet
    12,235 SF
    Lot Size
    313,632 SF

    Building Details

    Year Built
    1919
    Property Profile Location Intelligence

    Current Use by Public Records

    Industrial properties

    Suggested Use

    Restaurant Law Firm Building Supply Dental Office Wholesale Shop Auto Repair Shop Nail Salon Pharmacy Grocery Store Furniture Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Addison
    County
    Lenawee
    State
    Michigan
    Longitude
    -84.34871
    Latitude
    41.99077

    Nearby Comparable

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      Addison Senior Housing Redevelopment Opportunity

      7.2-acre redevelopment site, 14,035 sq ft
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      Addison Mill Pond Development Opportunity

      7.20-acre property with frontage on Addison Mill Pond.
      427 N Steer St, Addison, MI 49220
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      Manitou Beach Commercial Land

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    • $115,000
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      Historic Church on Picturesque Acres

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    Nearby Similar for Sale

    • $950,000
      14,035 SF

      Addison Senior Housing Redevelopment Opportunity

      7.2-acre redevelopment site, 14,035 sq ft
      427 Steer St, Addison, MI 49220
      View Details

    FAQs

    What type of property is this?
    Industrial property - 7.2 Acres, 12,235 SF Building, High Power
    Where is this industrial property located?
    The property is located at 427 Steer St Addison, MI.
    What is the asking price?
    The asking price for this property is $800,000.
    (734) 459-7570
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    427 Steer St Addison, MI 49220
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    Addison, MI 49220
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    Realmo Value Estimation

    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.

    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.

    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
    427 Steer St Addison, MI 49220
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