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

    309 W Broadway St Mount Pleasant, MI 48858

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $399,000

    Vacant commercial lot zoned for apartments above.

    Type:Commercial
    Added:
    Apr 24, 2026
    Days on Market:
    4
    Last Refresh:
    Apr 24 at 8:30 pm

    Property Features for 309 W Broadway St

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    We can help!

    Listing Contact
    James Engler
    James Engler

    Listing agent James Engler License #6506041138

    Listing office PRAEDIUM REALTY ROBIN STRESSMAN & ASSOCIATES

    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 PRAEDIUM REALTY ROBIN STRESSMAN & ASSOCIATES

    Overview

    Commercial Lot Near City Hall

    This vacant lot is zoned for commercial use with the possibility of apartments above. The property is located across from City Hall. The location has a walk score of 73, indicating it is very walkable, and a bike score of 63, indicating it is bikeable.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Pleasant
    County
    Isabella
    State
    Michigan
    Longitude
    -84.779754
    Latitude
    43.604266

    Nearby Similar for Sale

    • $299,000
      6,120 SF

      Mount Pleasant Commercial Building For Sale

      6,120 SF commercial building on a half-acre lot.
      1506 W High, Mount Pleasant, MI 48858
      View Details
    • $279,900
      1,467 SF

      Prime Commercial Building on Pickard

      High-traffic commercial building with versatile layout in growing area.
      4906 E Pickard Street, Mount Pleasant, MI 48858
      View Details
    • $975,000
      4,100 SF

      Turnkey Restaurant Near Central Michigan

      Restaurant property in prime location across from Central Michigan University.
      1088 S UNIVERSITY Street, Mt Pleasant City, MI 48858
      View Details
    • $230,000

      Mount Pleasant Multi-Family Opportunity

      Income-generating duplex with easy-living features and strong community appeal.
      715-717 N Bradley Street, Mount Pleasant, MI 48858
      View Details
    • $115,000
      4,500 SF

      Historic New Yorker Building Opportunity

      Iconic downtown building with character-filled space and business potential.
      117 S Main, Mount Pleasant, MI 48858
      View Details
    • $450,000
      18,000 SF

      Versatile Commercial Property & Roller Rink

      Expansive 18,000 SF property suitable for various commercial uses.
      1241 N Mission Road, UnionCharterTownship_Isabella, MI 48858
      View Details
    • $149,900
      100 SF

      Mount Pleasant Commercial Land Available

      1.36 acre commercial land in Mount Pleasant, Michigan.
      0000 Collegiate Way, Mount Pleasant, MI 48858
      View Details
    • $159,900

      Commercial Land on M20

      Commercial property ready for development near casino and downtown.
      9926 E Pickard Road, Mount Pleasant, MI 48858
      View Details
    • $308,000

      M-20 Commercial Corridor Land

      Land with frontage on M-20 in Mount Pleasant, MI.
      7308 E Pickard Road, Mount Pleasant, MI 48858
      View Details
    • $375,000

      Fully Occupied Investment Property

      Five-unit multifamily property with long-term tenants and stable cash flow.
      501 S University, Mount Pleasant, MI 48858
      View Details
    • $149,900

      Union Twp Commercial Land

      1.36 acre commercial land in Union Twp, Michigan.
      Collegiate Way, Union Twp, MI 48858
      View Details
    • $240,000
      2,532 SF

      Mt Pleasant Licensed Duplex

      Licensed duplex with flexible living space in prime location.
      1524 Ridge, Mount Pleasant, MI 48858
      View Details

    FAQs

    What type of property is this?
    Commercial land - Vacant commercial lot zoned for apartments above.
    Where is this commercial land located?
    The property is located at 309 W Broadway St Mount Pleasant, MI.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Zoned for Commercial with Apartments Above; Vacant Lot; Location Across from City Hall
    (989) 330-2473
    We can help!
    Listing Contact
    James Engler
    James Engler
    Real Estate License ID: 6506041138
    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!