Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    51 Chilson Rd Howell, MI 48843

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Pending
    $2,750 /Mo

    Commercial space with high visibility and investment potential.

    Lot size:
    0.63 Acres

    Property Features for 51 Chilson Rd

    General Information

    Property type
    Commercial
    Standard status
    Pending
    Lot size
    0.63 Acres

    Building Details

    Year built
    2009

    We can help!

    Listing Contact
    William Maniaci
    William Maniaci
    Source: Elliman

    Listing Agent: William Maniaci

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Commercial Space on High-Traffic Corner

    This commercial property is located on a busy, high-traffic corner at the intersection of Chilson and Grand River, offering excellent visibility and proximity to downtown Howell. The building presents an investment opportunity with two potential business spaces. The unoccupied warehouse space measures almost 1,800 square feet and includes a full, private basement. The front unit is currently tenant-occupied under a month-to-month lease and features a bright reception area, office space, and a bathroom. The log building is in great condition, with updated mechanical systems and a maintenance-free exterior. A newly repaved asphalt parking lot was completed in 2023.
    Location Intelligence

    Current Use by Public Records

    Akin & Akin Insurance Insurance Agency

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Howell
    County
    Livingston
    State
    Michigan
    Longitude
    -83.9062696
    Latitude
    42.5976571

    Nearby Similar for Lease

    • $2,300 /Mo
      2,855 SF

      Downtown Retail Space in Howell

      Retail space in vibrant downtown Howell, North Michigan Avenue.
      116 N Michigan Ave, Howell, MI 48843
      View Details
    • $2,400 /Mo
      1,692 SF

      High-Traffic Corner Commercial Opportunity

      Commercial space with high visibility and updated features for lease.
      2426 E Grand River Ave, Howell, MI 48843
      View Details
    • $2,750 /Mo
      3,744 SF

      High-Traffic Corner Commercial Opportunity

      Commercial space with high visibility and investment potential in Howell.
      51 Chilson Rd, Howell, MI 48843
      View Details
    • $7,000 /Mo
      7,000 SF

      Spacious Showroom on Grand River

      7,000 SF showroom with frontage on Grand River Avenue.
      5776 E Grand River Ave, Howell, MI 48843
      View Details
    • $2,750 /Mo
      1,320 SF

      Professional Office Building in Howell

      Four-suite professional office building near downtown Howell. Turnkey medical suites.
      1225 W Grand River Ave, Howell, MI 48843
      View Details
    • $2,300 /Mo
      8,000 SF

      Howell Industrial Property on M-59

      Flexible industrial space in Howell, Michigan, with high ceilings.
      5640 Highland Rd, Howell, MI 48855
      View Details
    • $925 /Mo

      Furnished Office in Howell Mansion

      Turnkey office space with shared amenities in historic mansion.
      915 N Michigan Ave, Howell, MI 48843
      View Details
    • $1,645 /Mo

      Renovated Office Space Available

      Modern office space with executive offices, conference rooms, and kitchenette.
      1221 Byron Rd, Howell, MI 48843
      View Details
    • $7,000 /Mo

      Spacious Showroom on Grand River

      7,000 SF showroom with frontage and fenced yard.
      5776 E Grand River Ave, Howell, MI 48843
      View Details
    • $2,400 /Mo
      Pending

      High-Traffic Corner Commercial Space

      Commercial space with high visibility near Downtown Howell.
      2426 E Grand River Ave, Howell, MI 48843
      View Details
    • $2,300 /Mo

      Genoa Township Flex Space

      Flex space with office and warehouse components available for rent.
      5864 Sterling Dr, Howell, MI 48843
      View Details
    • $3,589 /Mo

      Renovated Office Space Available

      Modern office space with executive offices, conference rooms, and kitchenette.
      1221 Byron Rd, Howell, MI 48843
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Commercial space with high visibility and investment potential.
    Where is this mixed-use property located?
    The property is located at 51 Chilson Rd Howell, MI.
    What is the lease rate?
    The lease rate is $2,750 /Mo.
    What are key features of this property?
    This property features: - High-traffic corner location on Chilson Grand River with excellent visibility.; - Investment opportunity with two potential business spaces.; - Large, unoccupied warehouse space (almost 1,800 sq ft) with a full private basement.
    (517) 672-6612
    Request Owner's contact information
    51 Chilson Rd Howell, MI 48843
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    51 Chilson Rd
    Howell, MI 48843
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    51 Chilson Rd Howell, MI 48843
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    William Maniaci
    William Maniaci
    (517) 672-6612 (810) 227-5500
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!