Renovated Mixed-Use
For Sale
$449,000
112 E Third Street, Imlay City, MI 48444
COM/IND/BUS OPP, Imlay City, MI
Property Size3,784 SF
Lot Size0.14 Acres
Price / SF$118.66
Days on Market233
Property Features for 112 E Third Street
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Main Street, Residential Area
Subdivision
Imlay City (44027)
Standard status
Active
APN
19-60-200-000-00
Size
3,784 SF
Lot size
0.14 Acres
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1890
Listing Agency:
Pilot Property Group - Residential LLC
(586) 254-0900
Listed By:
Anthony Rubino
(586) 873-5419
Added: Mar 3
Changed: Oct 8
Last Checked: Oct 22 at 12:06AM
MLS# 50200594
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 3,784-square-foot mixed-use building combines a substantially renovated interior with contemporary utility systems and fire suppression. Forced-air heating, public water service, and substantial electrical, water, and natural gas capacity support a range of commercial configurations, including restaurant or bar operations. Multiple entrances add flexibility for access and layout planning.
The property offers downtown Main Street exposure in Imlay City and occupies a 0.14-acre site. Separate utilities and metering create a practical framework for multiple occupants or independently managed spaces. Originally built in 1890, the building has been rebuilt and updated for present-day commercial use while retaining a flexible storefront-oriented configuration.
The property offers downtown Main Street exposure in Imlay City and occupies a 0.14-acre site. Separate utilities and metering create a practical framework for multiple occupants or independently managed spaces. Originally built in 1890, the building has been rebuilt and updated for present-day commercial use while retaining a flexible storefront-oriented configuration.
Key Highlights
- 3,784 square feet of total interior area
- 0.14‑acre site in downtown Imlay City
- Rebuilt and renovated with contemporary utilities and fire suppression
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,462
Cap Rate
8.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$749,240
$749.2K
Cap Rate 7%
$535,171
$535.2K
Cap Rate 9%
$416,244
$416.2K
Market Conditions
NOI Build-Up for 3,784 SF
Gross rent
$68.1K $18.00/SF
− Vacancy
−$8.2K −$2.16/SF
EGI
$59.9K $15.84/SF
− OpEx
−$22.5K −$5.94/SF
NOI
$37.5K $9.90/SF
Area
Lapeer County, MI
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$749,240
Cap Rate 7%
$535,171
Cap Rate 9%
$416,244
Alternative Uses
Best Use
Mixed Use
$535.2K
$468.3K – $624.4K
NOI $37,462 @ 7.0% cap · market cap 8.34%
Second Best
Retail
$372.8K
$326.2K – $434.9K
NOI $26,096 @ 7.0% cap · market cap 5.81%
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.
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Current Use
Lease Details
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
17k
Monthly Visits Nearby
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
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible utility infrastructure and separate metering support multi-tenant occupancy and restaurant-oriented operations.
Where is this mixed-use 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 total interior area; 0.14‑acre site in downtown Imlay City; Rebuilt and renovated with contemporary utilities and fire suppression
