Listing Agency: Howard Hanna Real Estate Services Inc Tecumseh

Listed By: Patrick Hoffman · License #OH SAL.2012002500 Show Phone

Source: Crexi

Added: Sep 17 Changed: Sep 28 Last Checked: Oct 5 at 7:24PM

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Investment Insights

Based on property information with market context.

This mixed-use property contains 3,853 square feet and is categorized for general commercial use.

Key Highlights

• 3,853 SF of building area
• Identified for general commercial use

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,694

Cap Rate

8.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$633,880 $633.9K

Cap Rate 7%

$452,771 $452.8K

Cap Rate 9%

$352,156 $352.2K

Market Conditions

NOI Build-Up for 3,853 SF

Gross rent

$56.4K $14.64/SF

− Vacancy

−$5.7K −$1.48/SF

EGI

$50.7K $13.16/SF

− OpEx

−$19.0K −$4.94/SF

NOI

$31.7K $8.23/SF

Area

Lenawee County, MI

Vacancy

10.10%

Lease Rate

$14.64 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$633,880

Cap Rate 7%

$452,771

Cap Rate 9%

$352,156

Alternative Uses

Best Use

Mixed Use

$452.8K

$396.2K – $528.2K (±1% cap)

NOI $31,694 @ 7.0% cap · market cap 8.83%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$47.80M

$41.83M – $55.77M (±1% cap)

NOI $3,346,256 @ 7.0% cap · market cap 932.10%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Mixed-use properties

Suggested Use

Top Pick HVAC Service Electrical Service (Bike/Boat/Book/etc) Store Locksmith Acupuncture Tech Support Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

861

Businesses Nearby

Explore this area Business Placement

Demographics for 49221, MI

41,315

Population

17,011

Households

2.4

Avg Household Size

39

Median Age

22%

College-Educated

88%

High-School Grad

119.9 sq mi

ZIP Area

345

Density / Sq Mi

$57,316

Median Household Income

$32,289

Median Earnings

$986

Median Rent

$158,700

Median Home Value

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The property is categorized for general commercial use.

Where is this mixed-use property located?

The property is located at 222 E MAUMEE ST Adrian, MI.

What is the asking price?

The asking price for this property is $359,000.

What are key features of this property?

This property features: 3,853 SF of building area; Identified for general commercial use