Building Details

Year Built 1955

Buildings 1

Listing Agency: The Brokerage House

Listed By: JENIFER SCANLON · License #6506047254 Show Phone

Source: Metrodetroithomeguide

Added: Oct 6 Changed: Oct 14 Last Checked: Oct 13 at 2:21AM

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Investment Insights

Based on property information with market context.

Built in 1955, the 2,436-square-foot triplex contains three apartments, each with two bedrooms and one full bathroom. Two units are occupied, while the third has been renovated and is ready for a new tenant. Each apartment has its own Consumers meter, and tenants are responsible for the associated utility costs. Parking and outdoor space are also part of the property.

The property spans 5 acres at the convergence of Brooklyn Road and M-50 in Columbia Township. It is within the Columbia Schools district and a short drive from shopping, dining, and downtown Brooklyn.

Key Highlights

• Three apartments, each with 2 bedrooms and 1 full bath
• 2,436‑square‑foot building constructed in 1955
• 5‑acre property at Brooklyn Road and M‑50

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,089

Cap Rate

7.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$321,780 $321.8K

Cap Rate 7%

$229,843 $229.8K

Cap Rate 9%

$178,767 $178.8K

Market Conditions

NOI Build-Up for 2,436 SF

Gross rent

$24.8K $10.20/SF

− Vacancy

−$1.9K −$0.77/SF

EGI

$23.0K $9.44/SF

− OpEx

−$6.9K −$2.83/SF

NOI

$16.1K $6.60/SF

Area

Jackson County, MI

Vacancy

7.50%

Lease Rate

$10.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$321,780

Cap Rate 7%

$229,843

Cap Rate 9%

$178,767

Alternative Uses

Best Use

Multifamily LT 5

$229.8K

$201.1K – $268.2K (±1% cap)

NOI $16,089 @ 7.0% cap · market cap 7.15%

Second Best

Apartment 5plus

$215.9K

$188.9K – $251.9K (±1% cap)

NOI $15,113 @ 7.0% cap · market cap 6.72%

Theoretical Best

Office A

$388.9K

$340.3K – $453.7K (±1% cap)

NOI $27,221 @ 7.0% cap · market cap 12.10%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Building Supply HVAC Service Auto Parts Store Big Box & Wholesale Store Auto Repair Shop Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

21

Businesses Nearby

Explore this area Business Placement

Demographics for 49230, MI

10,364

Population

6,108

Households

1.7

Avg Household Size

52

Median Age

27%

College-Educated

96%

High-School Grad

64.0 sq mi

ZIP Area

162

Density / Sq Mi

$81,052

Median Household Income

$52,448

Median Earnings

$1,116

Median Rent

$252,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - Three two-bedroom apartments include a recently renovated unit available for occupancy.

Where is this triplex located?

The property is located at 12321 Brooklyn Rd Brooklyn, MI.

What is the asking price?

The asking price for this property is $225,000.

What are key features of this property?

This property features: Three apartments, each with 2 bedrooms and 1 full bath; 2,436‑square‑foot building constructed in 1955; 5‑acre property at Brooklyn Road and M‑50