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    516 North Michigan Avenue Manton, MI 49663

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    For Sale
    $210,000

    Licensed day care center with age-group-divided playground and expansion potential.

    Type:BO
    Added:
    Mar 4, 2025
    Days on Market:
    401
    Last Refresh:
    Apr 3 at 5:01 am

    Property Features for 516 North Michigan Avenue

    General Information

    Standard status
    Active
    Property subtype
    BO

    We can help!

    Listing Contact
    Lorri Schreiber
    Lorri Schreiber

    Listing agent Lorri Schreiber License #6506034931, Michigan

    Listing office KW Commercial | Traverse City

    Listing date Mar 4, 2025

    Source Realnex

    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 KW Commercial | Traverse City

    Overview

    Fully Equipped Day Care Facility

    This is a full-functioning day care facility that hosts infants, toddlers, and preschoolers. The Infant Room is 400 square feet and licensed for 8 infants, featuring a large window providing natural light and a panoramic view of the playground. The Toddler Room is 350 square feet and licensed for 8 toddlers, featuring its own playground entry door. The Preschool Room is 300 square feet and licensed for 9 preschoolers, featuring a playground entry door along with large windows providing natural light. Additional features include a fully equipped kitchen, a private bathroom with 2 toilets and 1 sink, fireproof storage, and a full security-camera system with storage data. The age-group-divided playground consists of over 1,000 square feet with privacy fencing and features a pavement area, sand area, grass area, and rubber mulch area. The property is located within walking distance from Veterans Park and Lake Billings playground. Two separate lots provide room for expanding. The EGLE Safe Drinking Water Act (SDWA) is taken care of with a filtered drinking fountain.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Day care centers

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    • Head Start — 110 5th St, Manton, MI 49663

    Location Insight

    • Map
    • Local Demand
    City
    Manton
    County
    Wexford
    State
    Michigan
    Longitude
    -85.398334
    Latitude
    44.417471

    Nearby Similar for Sale

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      701 W Main Street, Manton, MI 49663
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    • $325,000
      8,411 SF

      Downtown Manton Redevelopment Opportunity

      Unique commercial property with redevelopment potential in historic downtown Manton.
      304 W Main Street, Manton, MI 49663
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    FAQs

    What type of property is this?
    Day care center - Licensed day care center with age-group-divided playground and expansion potential.
    Where is this day care center located?
    The property is located at 516 North Michigan Avenue Manton, MI.
    What is the asking price?
    The asking price for this property is $210,000.
    What are key features of this property?
    This property features: Fully licensed day care facility for infants, toddlers, and preschoolers.; Age‑group‑divided playground with over 1,000 square feet and privacy fencing.; Full security‑camera system with storage data.
    (231) 342-8456
    We can help!
    Listing Contact
    Lorri Schreiber
    Lorri Schreiber
    Real Estate License ID: 6506034931, Michigan
    Learn More
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    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
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