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

    116 W GENESEE Street Lapeer, MI 48446

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $450,000

    Vacant commercial land suitable for redevelopment in growing Lapeer area.

    Type:Lots/Land
    Lot size:
    0.50 Acres
    Added:
    Apr 23, 2024
    Days on Market:
    725
    Last Refresh:
    Apr 11 at 8:42 pm

    Property Features for 116 W GENESEE Street

    General Information

    Standard status
    Active
    Lot size
    0.50 Acres
    Property subtype
    Lots/Land

    We can help!

    Listing Contact
    Peggy J Feltner
    Peggy J Feltner

    Listing agent Peggy J Feltner License #6501413792

    Listing office Coldwell Banker Commercial Premier

    Listing date Apr 23, 2024

    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 Coldwell Banker Commercial Premier

    Overview

    Commercial Land Ready for Development

    The available commercial land is located in the growing Lapeer area, which features national service brands. The parcels are suitable for redevelopment to serve the community. Situated on W Genesee Street, the location benefits from high traffic counts. The property has 280 feet of frontage on W Genesee Street and is positioned at a traffic light at the intersection of W Genesee and N Court Street. The property consists of approximately 0.5 acres of vacant commercial land ready for development. This listing includes multiple parcels.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Lapeer
    County
    Lapeer
    State
    Michigan
    Longitude
    -83.303225
    Latitude
    43.050981

    Nearby Similar for Sale

    • $150,000
      2,600 SF

      Lapeer Commercial Building For Sale

      Two-story commercial building with potential for multiple uses.
      279 N Court Street, Lapeer, MI 48446
      View Details
    • $299,000
      7,764 SF

      Lapeer Commercial Property For Sale

      Versatile commercial property in Lapeer, MI, ideal for customization.
      1996 W Oregon Street, Lapeer, MI 48446
      View Details
    • $249,900
      1,755 SF

      Lapeer Office with Ample Land

      Office property on 4.4 acres suitable for various businesses.
      550 S Saginaw Street, Lapeer, MI 48446
      View Details
    • $239,900
      3,000 SF

      Commercial Property Near Courthouse

      Commercial property suitable for a growing law firm or business.
      441 CLAY Street, Lapeer City, MI 48446
      View Details
    • $44,900

      Residential Land with Pond

      Residential land featuring a pond in Lapeer Twp, MI.
      #28 & 29 Maple Grove, Lapeer Twp, MI 48446
      View Details
    • $229,900

      Versatile 40-Acre Recreational Land Parcel

      Buildable land with creek, wildlife, and hunting potential.
      Martus Road, North Branch Twp, MI 48446
      View Details
    • $390,000
      11,160 SF

      Lapeer Industrial Opportunity For Sale

      Two buildings on 1.56 acres, development potential, green zone.
      265 HOWARD Street, Lapeer City, MI 48446
      View Details
    • $999,000

      Productive Lapeer Land with Hunting

      130 acres of versatile land for farming, recreation, and hunting.
      Hadley Road, Lapeer, MI 48446
      View Details
    • $419,900

      87.55 Acres of Wooded Land

      Versatile land with timber, hunting potential, and building site.
      VL Roods Lake Road, Mayfield Twp, MI 48446
      View Details
    • $69,900

      Residential Land with Lake Access

      Building site with deeded lake access in Elba Township.
      HERON Drive lot: 40, Elba Twp, MI 48446
      View Details
    • $95,000

      Wooded Lot on Paved Road

      Residential land for building a dream home with privacy.
      Morris Road lot: A1, Lapeer Twp, MI 48446
      View Details

    FAQs

    What type of property is this?
    Commercial land - Vacant commercial land suitable for redevelopment in growing Lapeer area.
    Where is this commercial land located?
    The property is located at 116 W GENESEE Street Lapeer, MI.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: High traffic location on W Genesee St.; **280 ft of frontage on W Genesee St.**; Traffic light access at W Genesee and N Court St.
    (248) 628-1900
    We can help!
    Listing Contact
    Peggy J Feltner
    Peggy J Feltner
    Real Estate License ID: 6501413792
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!