Three-Unit Triplex on
For Sale
$225,000
12321 Brooklyn Rd, Brooklyn, MI 49230
Three two-bedroom apartments include a recently renovated unit available for occupancy.
Property Size2,436 SF
Lot Size5.00 Acres
Price / SF$92.36
Days on Market9
Property Features for 12321 Brooklyn Rd
General Information
Standard status
Active
Size
2,436 SF
Lot size
5.00 Acres
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Building Details
Year Built
1955
Buildings
1
Listing Agency:
The Brokerage House
Listed By:
JENIFER SCANLON · License #6506047254
(734) 664-6789
Source:
Metrodetroithomeguide
Added: Oct 6
Changed: Oct 14
Last Checked: Oct 13 at 2:21AM
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 The Brokerage House
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.
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
NOI $16,089 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$215.9K
$188.9K – $251.9K
NOI $15,113 @ 7.0% cap · market cap 6.72%
Theoretical Best
Office A
$388.9K
$340.3K – $453.7K
NOI $27,221 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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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
