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

    1241 Michigan Ave Bay City, MI 48708

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $224,900

    Turnkey four-unit property with residential and commercial spaces.

    Type:Investment
    Added:
    Apr 24, 2026
    Days on Market:
    5
    Last Refresh:
    Apr 24 at 8:33 pm

    Property Features for 1241 Michigan Ave

    General Information

    Standard status
    Active
    Property subtype
    Investment

    Building Details

    Year Built
    1930

    We can help!

    Listing Contact
    Zach Martin

    Listing agent Zach Martin

    Listing office

    Listing date Apr 24, 2026

    Source Elliman

    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 Zach Martin

    Overview

    Bay City Mixed-Use Investment

    This four-unit mixed-use property in Bay City presents an opportunity for investors seeking monthly cash flow or owner-occupants. The property includes two residential apartments and two commercial storefronts. The upper residential unit, featuring two bedrooms and one bathroom, is currently rented for $1,100 per month and has been updated with new flooring and fresh paint. The lower residential unit, a one-bedroom, one-bathroom apartment, is rented to a long-term tenant for $500 per month. The two commercial units, previously used as a salon and an office, are currently vacant. Both have been refreshed with new flooring and fresh paint. The property is located in an area that is somewhat bikeable and somewhat walkable. This property offers flexibility, upside, and immediate returns.
    Location Intelligence

    Current Use by Public Records

    Jackson Clay & Gallery Art Gallery

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Bay City
    County
    Bay
    State
    Michigan
    Longitude
    -83.88568
    Latitude
    43.569046

    Nearby Similar for Sale

    • $364,000
      15,000 SF

      Mixed-Use Investment in Bay City

      Historic 15,000 SF mixed-use building with redevelopment potential.
      301 E Midland Street, Bay City, MI 48706
      View Details
    • $899,000
      9,376 SF

      Turnkey Income-Producing Hospitality Property

      Two-story, 9,900+ sq ft property with immediate revenue potential.
      302 Tuscola, Bay City, MI 48708
      View Details
    • $154,900
      2,070 SF

      Bay City Commercial/Industrial Property

      Commercial/Industrial property in Bay City, Michigan with high visibility.
      2019 Columbus, Bay City, MI 48708
      View Details
    • $550,000
      14,202 SF

      Industrial Buildings with Yard Space

      Large industrial buildings suitable for warehousing, logistics, storage, and more.
      2429 2 MILE Road, Bay City, MI 48706
      View Details
    • $149,900
      1,372 SF

      Bay City Duplex Investment Opportunity

      Well-maintained duplex with income potential in a convenient location.
      1817 15th, Bay City, MI 48708
      View Details
    • $149,900
      2,681 SF

      Multi-Unit Property with Commercial Space

      Three-unit property featuring a commercial space and residential units.
      206 Marquette, Bay City, MI 48706
      View Details
    • $100,000
      1,055 SF

      Commercial Building on High-Traffic Road

      Commercial building with private parking on a high-traffic corner.
      1200 N Henry, Bay City, MI 48706
      View Details
    • $149,900
      1,372 SF

      Updated Duplex on Corner Lot

      Well-maintained duplex in Bay City with income potential.
      1817 15th, Bay City, MI 48708
      View Details
    • $299,900
      7,802 SF

      Historic Mixed-Use Investment Opportunity

      Mixed-use property in the Midland Street Historic District.
      703 E Midland, Bay City, MI 48708
      View Details
    • $230,000
      2,700 SF

      Bay City Live-Work Opportunity

      RM-1 zoned property with home occupation use and business potential.
      512 Germania Avenue, Bay City, MI 48706
      View Details
    • $135,000
      2,831 SF

      Three-Unit Apartment Building Investment

      Three-unit apartment building with immediate cash flow potential.
      300 S Farragut, Bay City, MI 48708
      View Details
    • $899,000
      9,900 SF

      Turnkey Income-Producing Hospitality Property

      Two-story, 18-room short-stay residence on 1.4 acres.
      302 Tuscola Rd, Bay City, MI 48708
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Turnkey four-unit property with residential and commercial spaces.
    Where is this mixed-use property located?
    The property is located at 1241 Michigan Ave Bay City, MI.
    What is the asking price?
    The asking price for this property is $224,900.
    What are key features of this property?
    This property features: Turnkey mixed‑use property with immediate, stable income from two residential units.; Opportunity for strong cash flow with upside potential from leasing two vacant commercial units.; Ideal "house hack" for owner‑occupants: live/work setup where tenants cover mortgage and expenses.
    (989) 572-2221
    We can help!
    Listing Contact
    Zach Martin
    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!