Three-Unit Mixed-Use
New
For Sale
$300,000
120 E Adrian Street, Blissfield, MI 49228
MULTI_FAMILY - Blissfield, MI
Property Size3,234 SF
Lot Size0.45 Acres
Price / SF$92.76
Days on Market1
Property Features for 120 E Adrian Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Commercial
Bedrooms
3
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Basement, Bathroom 3, Bedroom 2, Bathroom 1, Bathroom 4, Bedroom 1, Bathroom 2
Parking features
Assigned
Exterior features
Sidewalks
Appliances
Range/Oven, Refrigerator
Lot features
Corner Lot
Elementary school district
Blissfield Community Schools
Middle school district
Blissfield Community Schools
High school district
Blissfield Community Schools
Subdivision
Blissfield (46026)
Standard status
Active
APN
BL2-620-0410-00
Size
3,234 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4903
Utilities
Heating system
Forced Air
Cooling system
Central Air, Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1880
Number of units
3
Architectural style
Other
Listing Agency:
Foundation Realty, LLC
(517) 266-8888
Listed By:
Kasey White · License #6506046326
(517) 215-4943
Added: Aug 5
Last Checked: Aug 5 at 8:06PM
MLS# 50217384
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.
Investment Insights
Based on property information with market context.
Built in 1880, this 3,234-square-foot mixed-use property combines a commercial space on the main level with two upstairs apartments. The three-unit configuration includes four bedrooms and four bathrooms, along with a basement. Existing features include range/oven and refrigerator appliances, forced-air heating, central air, and wall/window units. Public water service and sidewalks are also in place.
The property occupies 0.45 acres with frontage on US-223 and a large parking area with assigned spaces. It is located one block from downtown Blissfield and minutes from Ellis Park and the River Raisin Festival. Commercial zoning supports the building’s combination of business and residential components.
The property occupies 0.45 acres with frontage on US-223 and a large parking area with assigned spaces. It is located one block from downtown Blissfield and minutes from Ellis Park and the River Raisin Festival. Commercial zoning supports the building’s combination of business and residential components.
Key Highlights
- 3,234‑square‑foot mixed‑use property on 0.45 acres
- Three‑unit layout with one commercial space and two apartments
- Built in 1880; includes four bedrooms and four bathrooms
Financial Insights For Mixed Use
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 | $47.3k | $14.64 |
| − Vacancy | −$4.8k | −$1.48 |
| EGI | $42.6k | $13.16 |
| − OpEx | −$16.0k | −$4.94 |
| NOI | $26.6k | $8.23 |
3,234 SF · lease $14.64/SF/yr · vacancy 10.10% · expense 37.50%
Alternative Uses
Best Use
Apartment 5plus
$35.72M
$31.26M – $41.68M
NOI $2,500,505 @ 7.0% cap · market cap 833.50%
Second Best
Mixed Use
$380.0K
$332.5K – $443.4K
NOI $26,602 @ 7.0% cap · market cap 8.87%
Theoretical Best
Multifamily LT 5
$40.12M
$35.11M – $46.81M
NOI $2,808,667 @ 7.0% cap · market cap 936.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic commercial building with two apartments, dedicated parking, and frontage along US-223.
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 on 0.45 acres; Three‑unit layout with one commercial space and two apartments; Built in 1880; includes four bedrooms and four bathrooms
