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

    2764 W Carleton Rd Hillsdale, MI 49242

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $475,000

    Two lots on M99 near Hillsdale's Industrial Park.

    Property size:
    2,500 SF
    Lot size:
    1.52 Acres
    Added:
    Apr 19, 2025
    Days on Market:
    375
    Last Refresh:
    Apr 5 at 8:11 pm

    Property Features for 2764 W Carleton Rd

    General Information

    Standard status
    Active
    Size
    2,500 SF
    Lot size
    1.52 Acres

    We can help!

    Listing Contact
    Christie M Plemmons

    Listing agent Christie M Plemmons License #6501314352

    Listing office Christie Plemmons Realty

    Listing date Apr 19, 2025

    Source Exprealty

    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 Christie Plemmons Realty

    Overview

    Hillsdale Commercial Property on M99

    This commercial property features two lots totaling 1.52 acres, situated at a highly traveled intersection on M99, near the edge of Hillsdale's Industrial Park. The property includes a one-story building, originally constructed in 1990 and remodeled two years ago. The building offers over 2500 square feet of space, including a main entry area, two to three private offices, and three bathrooms. It also features three overhead doors with parking/work bays and storage. The property is serviced by city water and sewer. The roof is three years old, and the electrical service has been recently updated. The tiered elevation of the lots offers a unique way to display a business.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    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
    Hillsdale
    County
    Hillsdale
    State
    Michigan
    Longitude
    -84.6472
    Latitude
    41.939

    Nearby Similar for Sale

    • $1,300,000
      13,000 SF

      Family Entertainment Destination with Restaurant

      Profitable family entertainment destination with Cottage Inn restaurant and fun park.
      3883 W Carleton Road, Hillsdale, MI 49242
      View Details
    • $389,900
      6,135 SF

      Versatile Commercial Space in Hillsdale

      Premier commercial space offering versatility for industrial or private use.
      305 Arch Avenue, Hillsdale, MI 49242
      View Details
    • $1,300,000
      13,000 SF

      Hillsdale Retail Space For Sale

      13,000 SF retail space on 13 acres in Hillsdale.
      3883 W Carleton Road, Hillsdale, MI 49242
      View Details
    • $5,500,000
      46,000 SF

      Hillsdale Market House Investment Opportunity

      46,000 sq ft commercial property near Hillsdale College.
      210 W Carleton Road, Hillsdale, MI 49242
      View Details
    • $475,000
      2,520 SF

      Hillsdale Commercial Property on M99

      Remodeled commercial building with high traffic location and unique display.
      2764 W Carleton Road, Hillsdale, MI 49242
      View Details
    • $299,900
      448 SF

      Hillsdale Commercial Building For Sale

      Commercial building with prime location and spacious parking in Hillsdale.
      70 W CARLETON Road, Hillsdale, MI 49242
      View Details
    • $249,000
      1,804 SF

      Hillsdale Commercial Property on M99

      Commercial property with high traffic and conversion possibilities in Hillsdale.
      95 W Carleton Road, Hillsdale, MI 49242
      View Details
    • $5,500,000
      46,000 SF

      Hillsdale Commercial Property on Carleton

      Commercial property on 7.04 acres in Hillsdale, Michigan.
      210 W Carleton Road, Hillsdale, MI 49242
      View Details
    • $699,000
      13,700 SF

      Iconic Commercial Property in Hillsdale

      High-visibility commercial property near Hillsdale College with endless possibilities.
      99 W Carleton Road, Hillsdale, MI 49242
      View Details
    • $1,300,000
      13,000 SF

      Family Entertainment Destination For Sale

      Profitable family entertainment destination with restaurant, fun park, and more.
      3883 W Carleton Road, Hillsdale, MI 49242
      View Details
    • $199,000
      1,942 SF

      Hillsdale Commercial Retail Space

      Retail space available in Hillsdale, Michigan.
      59 E Street Joe, Hillsdale, MI 49242
      View Details

    FAQs

    What type of property is this?
    Specialty property - Two lots on M99 near Hillsdale's Industrial Park.
    Where is this specialty property located?
    The property is located at 2764 W Carleton Rd Hillsdale, MI.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: Highly visible location at a busy intersection on M99, near Hillsdale's Industrial Park.; Large 1.52 acre lot with tiered elevation for business display.; Recently remodeled (2 years ago) 2500+ sq ft building with offices and 3 bathrooms.
    (517) 398-0268
    We can help!
    Listing Contact
    Christie M Plemmons
    Real Estate License ID: 6501314352
    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!