Storefront with Multiple
New
For Sale
$449,000
112 E Third Street, Imlay City, MI 48444
Separate utility meters support a multi-tenant configuration.
Property Size3,784 SF
Price / SF$118.66
Days on Market2
Property Features for 112 E Third Street
General Information
Standard status
Active
Size
3,784 SF
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Building Details
Building Size
3,784 SF
Year Built
1890
Listing Agency:
Pilot Property Group - Residential LLC
Listed By:
Ken Ferrier · License #6502125983
(231) 571-5623
Source:
Homeflexrealty
Added: Oct 29
Last Checked: Oct 29 at 2:37PM
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 Pilot Property Group - Residential LLC
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Investment Insights
Based on property information with market context.
This 3,784-square-foot storefront was rebuilt and renovated, with fire suppression and updated utility systems. Multiple entrances and separate utility services and meters support a multi-tenant layout. The property has heavy electrical capacity, along with water and natural gas service sized for restaurant or bar use.
The building is at 112 E Third Street in downtown Imlay City, with exposure along Main Street. It was originally built in 1890.
The building is at 112 E Third Street in downtown Imlay City, with exposure along Main Street. It was originally built in 1890.
Key Highlights
- 3,784 square feet of interior space
- Rebuilt and renovated, with fire suppression
- Multiple entrances and separate utility metering
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,096
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$521,920
$521.9K
Cap Rate 7%
$372,800
$372.8K
Cap Rate 9%
$289,956
$290.0K
Market Conditions
NOI Build-Up for 3,784 SF
Gross rent
$45.4K $12.00/SF
− Vacancy
−$8.1K −$2.15/SF
EGI
$37.3K $9.85/SF
− OpEx
−$11.2K −$2.96/SF
NOI
$26.1K $6.90/SF
Area
Lapeer County, MI
Vacancy
17.90%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$521,920
Cap Rate 7%
$372,800
Cap Rate 9%
$289,956
Alternative Uses
Best Use
Retail
$372.8K
$326.2K – $434.9K
NOI $26,096 @ 7.0% cap · market cap 5.81%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$619.7K
$542.2K – $722.9K
NOI $43,376 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
17k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 65%
Dining 23%
Electronics 12%
Speedway
Shops & Services
6,459 visits/mo
0.3 miles
AutoZone
Shops & Services
3,634 visits/mo
0.3 miles
Tubby's
Dining
2,482 visits/mo
0.4 miles
Verizon
Electronics
1,612 visits/mo
0.4 miles
Hungry Howie's Pizza
Dining
1,465 visits/mo
0.5 miles
Demographics for 48444, MI
9,420
Population
4,140
Households
2.3
Avg Household Size
41
Median Age
13%
College-Educated
86%
High-School Grad
81.5 sq mi
ZIP Area
116
Density / Sq Mi
$69,010
Median Household Income
$35,815
Median Earnings
$800
Median Rent
$237,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Storefront property - Separate utility meters support a multi-tenant configuration.
Where is this storefront property located?
The property is located at 112 E Third Street Imlay City, MI.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 3,784 square feet of interior space; Rebuilt and renovated, with fire suppression; Multiple entrances and separate utility metering
