120 N Farmer Street Otsego, MI 49078
Turnkey 5-unit mixed-use building in downtown Otsego.
- Added:
- May 12, 2026
- Days on Market:
- 63
- Last Refresh:
- Jul 2 at 5:58 am
Property Features for 120 N Farmer Street
General Information
- Standard status
- Active
- Size
- 3,944 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1870
Listing office Five Star Real Estate
Listing date May 12, 2026
Source Crexi
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 Five Star Real Estate
Investment Insights
Based on property information with market context.
Key Highlights
- Strong, consistent cash flow with $4,030/month gross income.
- Turnkey investment opportunity, fully occupied.
- City‑owned parking reduces maintenance costs.
Local Financial Insights For Apartment 5plus
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 | $48.7k | $12.36 |
| − Vacancy | −$2.7k | −$0.69 |
| EGI | $46.0k | $11.67 |
| − OpEx | −$20.7k | −$5.25 |
| NOI | $25.3k | $6.42 |
