Three-Unit Mixed-Use
New
For Sale
$300,000
120 E Adrian Street, Blissfield, MI 49228
COMMERCIAL - 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
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Parking Lot
Lot features
Corner Lot, Main Street
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
Roof type
Shingle
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# 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.
Investment Insights
Based on property information with market context.
Built in 1880, this 3,234-square-foot mixed-use property combines a ground-floor commercial unit with two apartments above. The three-unit layout supports both business occupancy and residential use within the same building. Existing features include forced-air heating, central air, wall/window unit cooling, a shingle roof, public water, and a parking lot. The property is zoned for commercial use and occupies 0.45 acres.
Located at 120 E Adrian Street in Blissfield, the building has frontage on US-223 and sits one block from downtown. Ellis Park and the River Raisin Festival are also minutes away, adding established recreational and community destinations to the surrounding context. The combination of commercial frontage, residential units, and on-site parking creates a straightforward mixed-use configuration.
Located at 120 E Adrian Street in Blissfield, the building has frontage on US-223 and sits one block from downtown. Ellis Park and the River Raisin Festival are also minutes away, adding established recreational and community destinations to the surrounding context. The combination of commercial frontage, residential units, and on-site parking creates a straightforward mixed-use configuration.
Key Highlights
- 3,234‑square‑foot building with one commercial unit and two apartments
- 0.45‑acre property with frontage on US‑223
- Commercial zoning with a parking lot
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Main-level commercial space is paired with two upstairs apartments and a dedicated parking area.
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 building with one commercial unit and two apartments; 0.45‑acre property with frontage on US‑223; Commercial zoning with a parking lot
