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

    1038 Michigan Avenue Baldwin, MI 49304

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $134,900

    Duplex in Baldwin, MI, with updates and tenant leases.

    Type:Commercial/Industrial
    Property size:
    1,640 SF
    Lot size:
    0.18 Acres
    Price / SF:
    $82/SF
    Added:
    Mar 11, 2026
    Days on Market:
    52
    Last Refresh:
    Apr 6 at 2:48 am

    Property Features for 1038 Michigan Avenue

    General Information

    Standard status
    Active
    Size
    1,640 SF
    Lot size
    0.18 Acres
    Property subtype
    Commercial/Industrial

    We can help!

    Listing Contact
    Christian J Radden

    Listing agent Christian J Radden License #6501303165

    Listing office North West Realty, LLC

    Listing date Mar 11, 2026

    Source Exitrealty

    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 North West Realty, LLC

    Overview

    Village Duplex Investment Opportunity

    This duplex, situated in the Village of Baldwin, presents an investment opportunity. The property features a larger unit with living quarters on both the upper and lower levels, including two separate bathrooms. A smaller unit, located on the main floor, contains one bathroom. In 2021, the larger unit received updates including new electric upstairs, a new furnace and ductwork, and a new water heater. The building's roof was also replaced in 2021. Both units are equipped with separate gas and electric meters, furnaces, and water heaters. Located in town, the property is near shopping and other amenities. Both units are currently leased and occupied, and the sale is subject to tenant lease rights. The property size is 1640 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Baldwin
    County
    Lake
    State
    Michigan
    Longitude
    -85.8489
    Latitude
    43.9041

    Nearby Similar for Sale

    • $350,000
      3,800 SF

      Baldwin Commercial Property on US10

      High-visibility commercial property on 4 acres in Baldwin, Michigan.
      2748 W US Highway 10, Baldwin, MI 49304
      View Details
    • $180,000
      1,800 SF

      Baldwin Commercial Property on US10

      Commercial property on US10 with high visibility and accessibility.
      1234 Washington Street, Baldwin, MI 49304
      View Details
    • $700,000
      2,800 SF

      Established Baldwin Business Opportunity

      Thriving business with real estate near Big Star Lake.
      16421 S Star Lake Drive, Baldwin, MI 49304
      View Details
    • $595,000

      Turnkey Cultivation Facility For Sale

      Turnkey cultivation facility with real estate and license included.
      3049 Dog Track Road, Baldwin, MI 49304
      View Details
    • $225,000
      1,600 SF

      Iconic Bar in Baldwin, MI

      Established bar for sale in downtown Baldwin, Michigan.
      867 M-37, Baldwin, MI 49304
      View Details
    • $89,900

      Remodeled Commercial Building in Baldwin

      Remodeled commercial building in thriving Baldwin location, ideal for retail.
      879 Michigan Avenue, Baldwin, MI 49304
      View Details
    • $180,000

      Baldwin Commercial Property on US10

      Commercial property on US10 with high visibility and accessibility.
      1234 Washington St, Baldwin, MI, 49304-7737
      View Details
    • $5,500,000

      Profitable RV Park Near Ludington

      RV park with cabins, tent sites, and expansion potential.
      11713 West 40th Street, Baldwin, MI 49402
      View Details
    • $64,900

      Waterfront Building Site on Government Lake

      0.67 acre building site with 162 feet of waterfront.
      V/L Wilma's Way, Baldwin, MI 49304
      View Details
    • $134,900
      1,640 SF

      Duplex in Baldwin Investment Opportunity

      Duplex with two units, updated in 2021, great investment.
      1038 Michigan Avenue, Baldwin, MI 49304
      View Details

    FAQs

    What type of property is this?
    Duplex - Duplex in Baldwin, MI, with updates and tenant leases.
    Where is this duplex located?
    The property is located at 1038 Michigan Avenue Baldwin, MI.
    What is the asking price?
    The asking price for this property is $134,900.
    What are key features of this property?
    This property features: Great investment opportunity with two units.; Larger unit boasts updated electric, furnace, ductwork, and water heater (2021).; New roof on the entire building (2021).
    (231) 745-4646
    We can help!
    Listing Contact
    Christian J Radden
    Real Estate License ID: 6501303165
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry

    1038 Michigan Avenue, Baldwin, MI 49304

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!