Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    4890 Airport Rd Lewiston, MI 49756

    Sponsored
    For Sale
    $250,000

    3400 sq ft, 2+ acres, versatile space

    Property size:
    3,400 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    347
    This exceptional 3,400 square foot commercial building presents a unique investment opportunity in Lewiston, MI. Situated on two acres of land with additional acreage available, this property boasts a prime location near a major Class A road, ensuring high visibility and accessibility. Previously utilized as a medical clinic, business offices, and a daycare center, the adaptable layout offers endless possibilities for a variety of commercial ventures. The building itself features a welcoming reception area, a convenient conference room, numerous private offices perfect for individual work or team collaboration, ample storage space, a well-equipped kitchen area, and an attached garage for added convenience. The property also includes one full bathroom and three half-baths, catering to the needs of both staff and clients. Modern amenities such as central air conditioning and natural gas heating ensure year-round comfort and efficiency. The property's versatility extends beyond commercial use

    Property Features for 4890 Airport Rd

    General Information

    Property type
    Other commercial real estate
    Square Feet
    3,400 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty 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
    -84.29523
    Latitude
    44.89981

    Nearby Comparable

    • $299,900

      Spacious Duplex Ranch on Wooded Lot

      Four-bedroom duplex ranch on 2.3 acres in Lewiston, Michigan.
      5580 Willoway Rd, Lewiston, MI 49756
      View Details
    • $599,000
      6,630 SF

      Established Restaurant/Bar on 3+ Acres

      Landmark Northern Michigan restaurant/bar with seating for 240 customers.
      4965 Salling Ave, Lewiston, MI 49756
      View Details
    • $259,900
      3,864 SF

      Lewiston Restaurant Opportunity For Sale

      Turn-key restaurant in downtown Lewiston with recent improvements.
      4524 Salling Ave, Lewiston, MI 49756
      View Details
    • $149,500
      2,992 SF

      Lewiston Commercial Property for Sale

      Commercial property in Lewiston, Michigan with multiple possibilities.
      4475 Hanson Ave, Lewiston, MI 49756
      View Details
    • $129,000
      2,014 SF

      Lewiston Commercial Space - Huge Potential

      Downtown Lewiston, 2014 sq ft, 73-person capacity
      4325 Hanson Ave, Lewiston, MI 49756
      View Details
    • $125,000

      Lewiston Retail or Office Space

      Versatile commercial building in downtown Lewiston with pedestrian traffic.
      2820 Kneeland St, Lewiston, MI 49756
      View Details
    • $310,000
      110.00 Acres

      Lewiston Land Near State Land

      110 acres near town, adjacent to state land, excellent hunting.
      110 Acres Winding Rd, Lewiston, MI 49756
      View Details
    • $209,900

      Heavily Wooded Hunting Land

      46.9 acres of wooded land, ideal hunting retreat.
      Aarons Rd, Lewiston, MI 49756
      View Details

    Nearby Similar for Sale

    • $599,000
      6,630 SF

      Established Restaurant/Bar on 3+ Acres

      Landmark Northern Michigan restaurant/bar with seating for 240 customers.
      4965 Salling Ave, Lewiston, MI 49756
      View Details
    • $149,500
      2,992 SF

      Lewiston Commercial Property for Sale

      Commercial property in Lewiston, Michigan with multiple possibilities.
      4475 Hanson Ave, Lewiston, MI 49756
      View Details
    • $499,000
      2,000 SF

      Profitable Auto Repair Business

      Turn-key auto repair business with real estate for sale.
      5557 N Red Oak Rd, Lewiston, MI 49756
      View Details
    • $259,900
      3,864 SF

      Lewiston Restaurant Opportunity For Sale

      Turn-key restaurant in downtown Lewiston with recent improvements.
      4524 Salling Ave, Lewiston, MI 49756
      View Details
    • $125,000

      Lewiston Retail or Office Space

      Versatile commercial building in downtown Lewiston with pedestrian traffic.
      2820 Kneeland St, Lewiston, MI 49756
      View Details
    • $299,900

      Spacious Duplex Ranch on Wooded Lot

      Four-bedroom duplex ranch on 2.3 acres in Lewiston, Michigan.
      5580 Willoway Rd, Lewiston, MI 49756
      View Details
    • $129,000
      2,014 SF

      Lewiston Commercial Space - Huge Potential

      Downtown Lewiston, 2014 sq ft, 73-person capacity
      4325 Hanson Ave, Lewiston, MI 49756
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - 3400 sq ft, 2+ acres, versatile space
    Where is this commercial real estate located?
    The property is located at 4890 Airport Rd Lewiston, MI.
    What is the asking price?
    The asking price for this property is $250,000.
    (989) 786-4111
    Request Owner's contact information
    4890 Airport Rd Lewiston, MI 49756
    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.
    4890 Airport Rd
    Lewiston, MI 49756
    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.

    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
    4890 Airport Rd Lewiston, MI 49756
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.