Three-Unit Mixed-Use
120 E Adrian Street, Blissfield, MI 49228
For Sale
$300,000
COM/IND/BUS OPP, Blissfield, MI
Property Size3,234 SF
Lot Size0.45 Acres
Price / SF$92.76
Days on Market97
Property Features for 120 E Adrian Street
General Information
Property type
Property subtype
Zoning description
Parking features
Lot features
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Mixed-Use Components
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Cooling system
Water source
Building Details
Year built
Roof type
Buildings
Listing Agency:
Foundation Realty, LLC
(517) 266-8888
Listed By:
Kasey White · License MI #6506046326
(517) 215-4943
Added: Aug 5
Changed: Oct 24
Last Checked: Nov 9 at 1:06PM
MLS# 50217383
Copyright © 2026 Lenawee County Association of REALTORS®. 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.
Built in 1880, this 3,234-square-foot mixed-use property combines a main-level commercial space with two upstairs apartments. The building includes forced-air heating, wall/window unit(s), central air, a shingle roof, and public water service. A dedicated parking lot supports the property’s commercial and residential components.
The property is located at 120 E Adrian Street in Blissfield, with frontage on US-223 and a position one block from downtown. Ellis Park and the River Raisin Festival are minutes away. Commercial zoning supports the existing mixed-use configuration, subject to applicable regulations.
The property is located at 120 E Adrian Street in Blissfield, with frontage on US-223 and a position one block from downtown. Ellis Park and the River Raisin Festival are minutes away. Commercial zoning supports the existing mixed-use configuration, subject to applicable regulations.
Key Highlights
- 3,234‑square‑foot mixed‑use property with one commercial unit and two apartments
- Built in 1880 with a shingle roof and historic character
- Frontage on US‑223 in Blissfield
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,602
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$532,040
$532.0K
Cap Rate 7%
$380,029
$380.0K
Cap Rate 9%
$295,578
$295.6K
Market Conditions
NOI Build-Up for 3,234 SF
Gross rent
$47.3K $14.64/SF
− Vacancy
−$4.8K −$1.48/SF
EGI
$42.6K $13.16/SF
− OpEx
−$16.0K −$4.94/SF
NOI
$26.6K $8.23/SF
Area
Lenawee County, MI
Vacancy
10.10%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$532,040
Cap Rate 7%
$380,029
Cap Rate 9%
$295,578
Alternative Uses
Best Use
Mixed Use
$380.0K
$332.5K – $443.4K
NOI $26,602 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$680.5K
$595.5K – $793.9K
NOI $47,636 @ 7.0% cap · market cap 15.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
226
Businesses Nearby
Explore this area
Business Placement
Demographics for 49228, MI
5,432
Population
2,185
Households
2.5
Avg Household Size
42
Median Age
19%
College-Educated
96%
High-School Grad
78.6 sq mi
ZIP Area
69
Density / Sq Mi
$75,481
Median Household Income
$41,209
Median Earnings
$972
Median Rent
$178,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic commercial building with two apartments, parking, and commercial zoning in a downtown setting.
Where is this mixed-use property located?
The property is located at 120 E Adrian Street Blissfield, MI.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 3,234‑square‑foot mixed‑use property with one commercial unit and two apartments; Built in 1880 with a shingle roof and historic character; Frontage on US‑223 in Blissfield
