227 E State St, Hanover, MI 49241
Well-maintained commercial building with versatile space on a generous lot.
- Added:
- May 9, 2026
- Days on Market:
- 60
- Last Refresh:
- May 9 at 12:02 am
Property Features for 227 E State St
General Information
- Standard status
- Active
- Size
- 2,000 SF
- Lot size
- 1.50 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1960
Listing office ERA REARDON REALTY, L.L.C. (517) 745-3114
Listing date May 9, 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 ERA REARDON REALTY, L.L.C.
HighLights
- Turnkey, move‑in ready commercial building.
- Over 2,000 sq ft of versatile space on 1.5+ acre lot.
- High‑visibility location with convenient access.
- Ideal for a wide range of uses (office, retail, fitness, daycare, etc.).
- Ample outdoor space for parking, expansion, or outdoor programming.
- Newer roof and 10' x 16' storage shed.
Overview
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.8k | $14.40 |
| − Vacancy | −$6.5k | −$3.23 |
| EGI | $22.3k | $11.17 |
| − OpEx | −$5.6k | −$2.79 |
| NOI | $16.8k | $8.38 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Hanover
- County
- Jackson
- State
- Michigan
- Longitude
- -84.557
- Latitude
- 42.10046
