Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Updated HVAC Retail Storefront Title is generated by Realmo AI

    412 Washington Avenue, Bay City, MI 48708

    View on Map
    Claim this Listing
    For Sale
    $224,900

    COMMERCIAL - Bay City, MI

    Property size:
    2,463 SF
    Lot size:
    0.23 Acres
    Price / SF:
    $91/SF
    Added:
    Mar 18, 2025
    Days on Market:
    444
    Last Refresh:
    Jun 4 at 12:06 pm

    Property Features for 412 Washington Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Rooms
    Basement
    Parking features
    Parking Lot, Off Street
    Security features
    Security Lighting
    Exterior features
    Security Lighting
    Standard status
    Active
    APN
    16002812809100&160002812800400
    Size
    2,463 SF
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    7875

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1956
    Roof type
    Flat

    We can help!

    Listing Contact
    Ken Kujawa

    Listing agent Ken Kujawa License #6502333762

    Listing office Century 21 Signature Realty 5580 State Street Suite 4, Saginaw, MI

    Listing date Mar 18, 2025

    MLS# 50169002

    Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 2,500 sq. ft. retail commercial space in downtown Bay City
    • Forced‑air heat with central air and updated HVAC systems
    • Exposed 12 ft ceilings
    • Flat roof with security lighting
    • Parking lot behind the building at 415 Adams (200 ft deep x 50 ft wide) with off‑street parking
    • Basement included; public water source

    Overview

    This retail commercial property offers approximately 2,500 square feet of space with updated HVAC systems and exposed 12-foot ceilings. The building’s design supports a storefront layout suitable for a range of retail uses, with the interiors benefiting from the noted HVAC improvements.

    The property is located at 412 Washington Avenue in Bay City, with a parking lot situated behind the building at 415 Adams. The lot is described as approximately 200 feet deep by 50 feet wide, providing a practical off-street parking arrangement in support of customer visits. The listing also notes proximity to City Hall, Starbucks, and the newly mentioned Pita Way.

    For buyers, this is a straightforward retail offering featuring both interior upgrades and an associated rear parking field. The exposed ceiling height can help set expectations for an open, flexible sales floor, while the on-site parking configuration behind the property supports accessibility for customers shopping in the downtown Bay City area. Interested tenants and operators should consider the space’s scale and the documented ceiling and HVAC features when evaluating fit for their retail concept.

    Local Financial Insights For Retail

    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 $29.6k $12.00
    − Vacancy −$3.5k −$1.44
    EGI $26.0k $10.56
    − OpEx −$7.8k −$3.17
    NOI $18.2k $7.39
    2,463 SF · lease $12.00/SF/yr · vacancy 12.00% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $260.1K
    $227.6K – $303.4K (±1% cap)
    NOI $18,206 @ 7.0% cap · market cap 8.10%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $445.9K
    $390.1K – $520.2K (±1% cap)
    NOI $31,211 @ 7.0% cap · market cap 13.88%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    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
    Bay City
    County
    Bay
    State
    Michigan
    Longitude
    -83.887942
    Latitude
    43.594594

    Nearby Similar for Sale

    • $450,000
      5,043 SF

      Mixed-Use Opportunity in Bay City

      Mixed-use property with redevelopment potential in a growing downtown corridor.
      108 S Linn, Bay City, MI 48706
      View Details
    • $790,000
      9,376 SF

      Two-Story Short-Stay Hospitality Residence

      Newly refinished 18-room lodging property with recent upgrades for short-stay guests serving medical professionals.
      302 Tuscola Road, Bay City, MI 48708
      View Details
    • $790,000
      9,376 SF

      Two-Story Hospitality Residence

      Newly refinished 18-room short-stay residence with modernized guest amenities and a complete commercial kitchen.
      302 Tuscola Road, Bay City, MI 48708
      View Details
    • $549,000
      4,020 SF

      Bay City Office Condo Available

      Professional office condominium in a highly visible corner location.
      1601 Marquette Avenue, Bay City, MI 48706
      View Details
    • $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
    • $154,900
      2,070 SF

      Office Space with High Visibility

      Previously used as an insurance office, this high-visibility space can support a variety of professional services.
      2019 Columbus Avenue, 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
    • $100,000
      1,055 SF

      Corner Commercial Building with Parking

      Corner commercial building on a high-traffic road with private parking and recent updates for a range of retail or service uses.
      1200 N Henry Street, Bay City, MI 48706
      View Details
    • $425,000
      3,132 SF

      Brick Garden-Style Fourplex

      Purpose-built four-unit property with separately metered utilities and full basements with washer/dryer hookups.
      2311 22nd Street, 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
    • $195,000
      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
    • $659,900
      2,823 SF

      Bay City Retail Opportunity

      Established retail space in high-visibility Bay City location.
      1014 N Johnson St Street, Bay City, MI 48708
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail storefront with updated HVAC, exposed 12-foot ceilings, and a nearby rear parking lot for customer access.
    Where is this retail space located?
    The property is located at 412 Washington Avenue 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: 2,500 sq. ft. retail commercial space in downtown Bay City; Forced‑air heat with central air and updated HVAC systems; Exposed 12 ft ceilings
    (989) 239-5581
    We can help!
    Listing Contact
    Ken Kujawa
    Real Estate License ID: 6502333762
    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

    Thank You for Inquiry
    412 Washington Avenue, Bay City, MI 48708
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!