Individually Owned 
For Lease
1 / 18
$18 SF/Yr
560 W Mitchell St, Petoskey, MI 49770
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Property summary
AI-generated overview
This 1,136 square foot medical office suite is located on the third floor of a larger medical building at 560 W Mitchell St, Petoskey, MI 49770. The building, constructed in 1954 and renovated in 1992, offers a total of 122,000 square feet on a 4.69-acre lot (APN: 52-19-06-199-001). The suite includes a restroom, waiting room/reception area, storage closet, and a large office. It's ideally suited for various medical specialties, including but not limited to chiropractic, pediatrics, dermatology, plastics, dental, physical therapy, and counseling. The building houses a diverse range of medical services, such as audiology, cardiology, digestive health, internal medicine, obstetrics and gynecology, oncology and hematology, psychology, pulmonary, and a sleep center. Utilities such as electricity, gas, phone, and internet are the responsibility of the tenant. A virtual tour is available online. This multi-tenant building presents a prime opportunity for medical professionals seeking established medical office space in a thriving community.
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Lot
3.25 ac (141,570 SF)
Zoning code
COP H2
APN
52-19-06-100-056
UPID
US43-4032199
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$330k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$330k
Owner & transaction history
since 2016
1 recorded transaction
Zoning & alternative use
COP H2 · Petoskey, MI
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$330k
Value range
$297k – $363k
±10% around blend
Confidence
Property data
50
Market benchmarks
67
Comparable evidence
60
Income certainty
100
$297k
blend $330k
$363k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
Lot area
3.25 ac
APN
52-19-06-100-056
Zoning
COP H2
Assessed value
$845,100
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Selected cap rate
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$330k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 50 sales
$154
N/A
County 121 sales
$136
N/A
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
Not available
Property tax
Not available
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$176k
Move the market yield to see immediate price impact.
Value / SF
N/A
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$11k
$222k
$159k
$123k
$12k
$247k
$176k
$137k
$14k
$272k
$194k
$151k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Property tax & assessments
Assessed value
$845,100
Assessed 2023
Previous assessed
$601,400
+40.5% YoY
Assessed land
$845,100
Land market value
$1,690,200
Total market value
$1,690,200
Applied tax rate
52.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
For Lease
Lot
3.25 ac (141,570 SF)
Zoning code
COP H2
APN
52-19-06-100-056
UPID
US43-4032199
Jurisdiction
EMMET
Zoning & alternative use
COP H2 · Petoskey, MIZoning COP H2 · permitted uses
COP H2 · Petoskey, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Lot
3.25 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
COP H2
Jurisdiction
Petoskey, MI
Recorded code
COP H2
Ownership Intelligence
Find the owner behind the property.
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What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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