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    508 N Main Hersey, MI 49639

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    For Sale
    $194,000

    Turn-key farming supply business with real estate, equipment, and inventory.

    Type:Business Opportunities
    Property size:
    3,000 SF
    Added:
    Aug 4, 2024
    Days on Market:
    611
    Last Refresh:
    Apr 1 at 8:25 pm

    Property Features for 508 N Main

    General Information

    Standard status
    Active
    Size
    3,000 SF
    Property subtype
    Business Opportunities

    Building Details

    Year Built
    1980

    We can help!

    Listing Contact
    Joseph McNally

    Listing agent Joseph McNally

    Listing office RE/MAX TOGETHER

    Listing date Aug 4, 2024

    Source Xome

    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 RE/MAX TOGETHER

    Overview

    Farming Supply Company Opportunity

    This farming supply company presents a turn-key business opportunity, including client lists, inventory, equipment, and real estate. Located in the middle of farm country in Hersey, MI, the business benefits from a substantial clientele in need of its services. The equipment includes over a dozen spreaders, multiple mixers, a spreader truck, conveyors, a forklift, a backhoe, tractors, a hydraulic dock leveler, hydraulic pallet forks, a weigh station, and various other tools, implements, and appurtenances necessary to run the business. The store is stocked with quality inventory, featuring high-demand products that fulfill essential needs for the surrounding area farmers. The real estate is well-situated on Main Street in Hersey, less than 5 miles from HWY 131 and US. The property size is 3000 square feet.
    Location Intelligence

    Current Use by Public Records

    Thornton Agriculture LLC. Industrial Manufacturer Thornton Agriculture Food Processing Plant

    Suggested Use

    Restaurant Auto Repair Shop Gym & Fitness Center Food Market Grocery & Convenience Store Grocery & Convenience Store Restaurant Parking Lot & Garage

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

    Location Insight

    • Map
    • Local Demand
    City
    Hersey
    County
    Osceola
    State
    Michigan
    Longitude
    -85.444383
    Latitude
    43.855157

    Nearby Similar for Sale

    • $45,000
      1,100 SF

      Hersey, MI Commercial Property

      Commercial property in Hersey, Michigan with 1,100 square feet.
      106 S Main Street, Hersey, MI 49639
      View Details
    • $55,000

      Hersey Commercial Building For Sale

      Commercial building in Hersey, suitable for office or retail.
      106 S Main Street, Hersey, MI 49639
      View Details
    • $194,000
      3,000 SF

      Hersey, MI Farming Supply Company

      Turn-key farming supply business opportunity in Hersey, Michigan.
      508 N Main Street, Hersey, MI 49639
      View Details

    FAQs

    What type of property is this?
    Farm - Turn-key farming supply business with real estate, equipment, and inventory.
    Where is this farm located?
    The property is located at 508 N Main Hersey, MI.
    What is the asking price?
    The asking price for this property is $194,000.
    What are key features of this property?
    This property features: Turn‑key farming supply business opportunity including real estate, inventory, equipment, and client lists.; Prime location in the heart of farm country in Hersey, MI, ensuring a steady stream of clientele.; Extensive inventory of high‑demand products essential for local farmers.
    (231) 629-4100
    We can help!
    Listing Contact
    Joseph McNally
    Learn More
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    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
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