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

    112 E 3Rd St Imlay City, MI 48444

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $449,000

    3,784 sq ft mixed-use building with prime Main Street exposure.

    Lot size:
    0.14 Acres

    Property Features for 112 E 3Rd St

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.14 Acres

    Building Details

    Year built
    1890

    We can help!

    Listing Contact
    Anthony U Rubino
    Anthony U Rubino
    Source: Elliman

    Listing Agency: Pilot Property Group - Residential LLC Listing Agent: Anthony U Rubino

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

    Learn more

    Overview

    Downtown Mixed-Use Building For Sale

    This 3,784 sq. ft. mixed-use building has been rebuilt and renovated with contemporary utilities and fire suppression systems. It features prime downtown Main Street exposure and multiple entrances. The property offers heavy power, water, and natural gas capacity, making it suitable for restaurant or bar use. Separate utilities and metering provide multi-tenant flexibility.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    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
    Imlay City
    County
    Lapeer
    State
    Michigan
    Longitude
    -83.077579
    Latitude
    43.024483

    Nearby Similar for Sale

    • $449,000
      3,784 SF

      Imlay City Office/Retail Building

      Renovated building with high capacity utilities and prime Main Street exposure.
      112 E 3Rd St, Imlay City, MI 48444
      View Details
    • $299,900
      4,888 SF

      Versatile Commercial Building, Imlay City

      High-visibility commercial building suitable for diverse uses in Imlay City.
      542 N Cedar St, Imlay City, MI 48444
      View Details
    • $999,900
      2,326 SF

      Organic Farm with Renovated Farmhouse

      51-acre organic farm with equestrian facilities and renovated farmhouse.
      8839 Petz Rd, Imlay City, MI 48444
      View Details
    • $999,999

      Imlay City Industrial Building

      16,800 SF industrial building with flexible space in Imlay City.
      300 E 2Nd St, Imlay City, MI 48444
      View Details
    • $399,000

      Downtown Imlay City Investment Opportunity

      Mixed-use property with renovated apartments and business spaces for sale.
      106 E 3Rd St, Imlay City, MI 48444
      View Details
    • $399,000

      Downtown Imlay City Investment Opportunity

      Mixed-use property with renovated apartments and business spaces.
      106 E 3Rd St, Imlay City, MI 48444
      View Details
    • $395,000
      11,000 SF

      Imlay City Storefront - $395K

      Prime Retail Space, 11,000 SF, Historic Charm
      200 3Rd St, Imlay City, MI 48444
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 3,784 sq ft mixed-use building with prime Main Street exposure.
    Where is this mixed-use property located?
    The property is located at 112 E 3Rd St Imlay City, MI.
    What is the asking price?
    The asking price for this property is $449,000.
    What are key features of this property?
    This property features: - Prime downtown Main Street exposure; - Heavy power, water, and natural gas capacity suitable for restaurant or bar use; - Rebuilt and renovated with contemporary utilities and fire suppression
    (586) 873-5419
    Request Owner's contact information
    112 E 3Rd St Imlay City, MI 48444
    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.
    112 E 3Rd St
    Imlay City, MI 48444
    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
    112 E 3Rd St Imlay City, MI 48444
    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
    Anthony U Rubino
    Anthony U Rubino
    Real Estate License ID: 6502425251
    (586) 873-5419 (586) 254-0900
    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!