Mixed-Use Building with Unfinished Upper
124 N Almont, Imlay City, MI 48443
For Sale
$250,000
The street-level space is occupied by a doctor's office under a long-term net lease.
Property Size3,000 SF
Price / SF$83.33
Days on Market49
Property Features for 124 N Almont
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Tenant in Place
Property Use
Building Details
Buildings
Listing Agency:
Berkshire Hathaway Homeservices Kee Realty
(586) 840-0400
Listed By:
Donna Caumartin · License MI #6501226411
(586) 243-9812
Source:
Jabachler
Added: Sep 27
Changed: Nov 11
Last Checked: Nov 13 at 11:40PM
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 Berkshire Hathaway Homeservices Kee Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Renovated mixed-use property with a 1,500-square-foot main level, a full basement, and an additional 1,500 square feet upstairs that remains unfinished. The street-facing ground-floor space is leased long term to a doctor's office under a net lease. Mixed Use zoning is identified for the property.
The building is in the DDA B2 District, within a pedestrian-oriented social district with shared gathering areas.
The building is in the DDA B2 District, within a pedestrian-oriented social district with shared gathering areas.
Key Highlights
- 1,500‑square‑foot main level and an additional 1,500 square feet of unfinished upper‑level space
- Street‑level doctor's office leased long term under a net lease
- Full basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,328
Cap Rate
4.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$206,560
$206.6K
Cap Rate 7%
$147,543
$147.5K
Cap Rate 9%
$114,756
$114.8K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$18.0K $6.00/SF
− Vacancy
−$4.2K −$1.41/SF
EGI
$13.8K $4.59/SF
− OpEx
−$3.4K −$1.15/SF
NOI
$10.3K $3.44/SF
Area
Lapeer County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$206,560
Cap Rate 7%
$147,543
Cap Rate 9%
$114,756
Alternative Uses
Best Use
Healthcare Medical
$491.3K
$429.9K – $573.2K
NOI $34,389 @ 7.0% cap · market cap 13.76%
Second Best
Mixed Use
$424.3K
$371.3K – $495.0K
NOI $29,700 @ 7.0% cap · market cap 11.88%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The street-level space is occupied by a doctor's office under a long-term net lease.
Where is this mixed-use property located?
The property is located at 124 N Almont Imlay City, MI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,500‑square‑foot main level and an additional 1,500 square feet of unfinished upper‑level space; Street‑level doctor's office leased long term under a net lease; Full basement
