Drive-Through Former Bank
10811 ALBEE RD Burt, MI 48417
10811 ALBEE RD, Burt, MI, 48417
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For Sale
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Former financial institution building on 1.03 acres with surrounding drive-through access in a B-2 commercial district.
Property Size1,602 SF
Price / SF$121.72
Days on Market71
Property Features for 10811 ALBEE RD
General Information
- Standard status
- Active
- Size
- 1,602 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1980
Listing agency
Trademark Commercial Group
(989) 792-2192
Listed by
Gretchen Witherspoon · License #MI 6501316390
Source
Crexi
Added: May 13 Updated: Jul 21 at 12:13PM Checked: Jul 21 at 12:13PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Trademark Commercial Group
Investment Insights
Based on property information with market context.
A 1,602 SF former financial institution building on a 1.03-acre site in Albee Township, Burt, MI. The property is deed restricted and not available for financial institution or wealth management use for 3 years from the start date, so buyer and use eligibility should be reviewed in detail.
The site is zoned B-2 commercial and offers drive-through access around the building. An ATM is not included in the sale.
Call Trademark Commercial for a confidential showing and to confirm permitted uses with the Township, since a number of non-financial uses are described as potentially applicable depending on zoning requirements.
The site is zoned B-2 commercial and offers drive-through access around the building. An ATM is not included in the sale.
Call Trademark Commercial for a confidential showing and to confirm permitted uses with the Township, since a number of non-financial uses are described as potentially applicable depending on zoning requirements.
Key Highlights
- Former financial institution building built in 1980 with 1,602 SF of space
- Deed restriction: must not be used as a financial institution or wealth management user for 3 years from the start date
- Sited on 1.03 acres in a B‑2 commercial district
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.0k | $15.00 |
| − Vacancy | −$3.1k | −$1.95 |
| EGI | $20.9k | $13.05 |
| − OpEx | −$5.2k | −$3.26 |
| NOI | $15.7k | $9.79 |
1,602 SF · lease $15.00/SF/yr · vacancy 13.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$296.0K
$259.0K – $345.3K
NOI $20,719 @ 7.0% cap · market cap 10.63%
Second Best
Office B
$224.0K
$196.0K – $261.3K
NOI $15,680 @ 7.0% cap · market cap 8.04%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
The State Bank - Connect! ...
Bank
ATM
Atm
Community State Bank
Bank
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FAQs
What type of property is this?
Bank - Former financial institution building on 1.03 acres with surrounding drive-through access in a B-2 commercial district.
Where is this bank located?
The property is located at 10811 ALBEE RD Burt, MI.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Former financial institution building built in 1980 with 1,602 SF of space; Deed restriction: must not be used as a financial institution or wealth management user for 3 years from the start date; Sited on 1.03 acres in a B‑2 commercial district
