Triplex with Separate
109 South Avenue, Mount Clemens, MI 48043
For Sale
$224,900
MULTIFAMILY, Mount Clemens, MI
Property Size1,498 SF
Lot Size0.13 Acres
Price / SF$150.13
Days on Market48
Property Features for 109 South Avenue
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Subdivision
Elementary school district
Middle school district
High school district
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Individually Metered Utilities
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Water source
Building Details
Year built
Floors in Building
Number of units
Listing Agency:
Berkshire Hathaway HomeServices Kee Realty NB · Real Living
(586) 315-5700
Listed By:
James Fennell · License MI #6501242077
(586) 996-1251
Added: Sep 24
Changed: Nov 2
Last Checked: Nov 10 at 1:06AM
MLS# 50222870
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,498-square-foot triplex contains three occupied residences on a 0.13-acre parcel. The two lower apartments each have one bedroom, while the upper apartment has two. Each residence has its own entrance and separate gas and electric meters. The property was built in 1899 and has forced-air heating and public water service.
Key Highlights
- Three occupied apartments: two one‑bedroom units and one two‑bedroom unit
- 1,498 square feet on a 0.13‑acre parcel
- Separate entrance, gas meter, and electric meter for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,858
Cap Rate
7.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$317,160
$317.2K
Cap Rate 7%
$226,543
$226.5K
Cap Rate 9%
$176,200
$176.2K
Market Conditions
NOI Build-Up for 1,498 SF
Gross rent
$24.3K $16.20/SF
− Vacancy
−$1.6K −$1.08/SF
EGI
$22.7K $15.12/SF
− OpEx
−$6.8K −$4.54/SF
NOI
$15.9K $10.59/SF
Area
Macomb County, MI
Vacancy
6.65%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$317,160
Cap Rate 7%
$226,543
Cap Rate 9%
$176,200
Alternative Uses
Best Use
Multifamily LT 5
$226.5K
$198.2K – $264.3K
NOI $15,858 @ 7.0% cap · market cap 7.05%
Second Best
Apartment 5plus
$201.0K
$175.9K – $234.5K
NOI $14,068 @ 7.0% cap · market cap 6.26%
Theoretical Best
Specialty Retail
$280.4K
$245.4K – $327.2K
NOI $19,631 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,304
Businesses Nearby
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Business Placement
Demographics for 48043, MI
15,665
Population
7,059
Households
2.2
Avg Household Size
41
Median Age
18%
College-Educated
88%
High-School Grad
4.1 sq mi
ZIP Area
3,821
Density / Sq Mi
$57,315
Median Household Income
$37,683
Median Earnings
$896
Median Rent
$169,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Individual gas and electric meters are provided for each residence.
Where is this triplex located?
The property is located at 109 South Avenue Mount Clemens, MI.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Three occupied apartments: two one‑bedroom units and one two‑bedroom unit; 1,498 square feet on a 0.13‑acre parcel; Separate entrance, gas meter, and electric meter for each residence
