Contiguous Farmland with
For Sale
$1,800,000
Pending
7565 Ormes Road, Vassar, MI 48768
Land, Vassar, MI
Property Size2,200 SF
Lot Size240.00 Acres
Days on Market50
Property Features for 7565 Ormes Road
General Information
Property type
Land
Property subtype
Other
Lot features
Tillable, Wooded
Elementary school district
Vassar
Middle school district
Vassar
High school district
Vassar
Standard status
Pending
APN
019035000010000
Lot size
240.00 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
019-035-000-0100-00-TUS-35-101 SEC 35 T11N R7E E 1/2 OF NE 1/4. 80 A. 019-36-000-1400-00-TUS-36-202 SEC 36 T11N R7E W 1/2 OF NW 1/4. 80 A. 019-035-000-1200-00-TUS-35-401 SEC 35 T11N R7E E 1/2 OF SE 1/4. 80 A.
Tax Annual Amount
5861
Legal Description
019-035-000-0100-00-TUS-35-101 SEC 35 T11N R7E E 1/2 OF NE 1/4. 80 A. 019-36-000-1400-00-TUS-36-202 SEC 36 T11N R7E W 1/2 OF NW 1/4. 80 A. 019-035-000-1200-00-TUS-35-401 SEC 35 T11N R7E E 1/2 OF SE 1/4. 80 A.
Utilities
Utilities
Electricity Available
Sewer type
Septic Tank
Water source
Well
Water front features
Creek
Listing Agency:
Vincent Realty Group Inc.
(313) 879-3624
Listed By:
Eldon Vincent · License #6502398231
(269) 719-0502
Added: Jul 4
Changed: Aug 20
Last Checked: Aug 22 at 10:06AM
MLS# 26034299
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This sale includes three contiguous parcels totaling approximately 240 acres, with about 200 acres identified as tillable. The property is improved with multiple outbuildings intended for storage and use in support of agricultural operations. A spacious 2,200-square-foot farmhouse sits on the property and includes 4 bedrooms and 1 full bathroom. One notable feature is a hydraulic elevator providing access between the first floor and basement. The residence is structurally substantial but would benefit from updating and modernization, creating room to renovate and tailor the home to your preferences.
The property is located at 7565 Ormes Road in Vassar, Michigan, in Tuscola County. The parcels will be sold together and are identified as 019--00, 019--00, and 019--00.
For buyers seeking a large, workable rural holding, the acreage mix and existing outbuildings support continued farming and equipment or livestock storage needs. The on-site farmhouse offers an immediate residential component for owners or operators who want to live on the property while using the tillable acreage. With the home in need of modernization, it also fits buyers looking to invest in renovations rather than purchase a fully updated turnkey residence.
The property is located at 7565 Ormes Road in Vassar, Michigan, in Tuscola County. The parcels will be sold together and are identified as 019--00, 019--00, and 019--00.
For buyers seeking a large, workable rural holding, the acreage mix and existing outbuildings support continued farming and equipment or livestock storage needs. The on-site farmhouse offers an immediate residential component for owners or operators who want to live on the property while using the tillable acreage. With the home in need of modernization, it also fits buyers looking to invest in renovations rather than purchase a fully updated turnkey residence.
Key Highlights
- Three contiguous parcels sold together totaling approximately 240 acres, with approximately 200 acres of tillable land.
- Includes a 2,200 SF farmhouse with 4 bedrooms and 1 full bathroom.
- Farmhouse features a hydraulic elevator providing access between the first floor and basement.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$97,250
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,945,000
$1.9M
Cap Rate 7%
$1,389,286
$1.4M
Cap Rate 9%
$1,080,556
$1.1M
Market Conditions
NOI Build-Up for 2,200 SF
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.
Gross rent
$186.9K $84.96/SF
− Vacancy
−$10.1K −$4.59/SF
EGI
$176.8K $80.37/SF
− OpEx
−$79.6K −$36.17/SF
NOI
$97.3K $44.20/SF
Area
Tuscola County, MI
Vacancy
5.40%
Lease Rate
$84.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,945,000
Cap Rate 7%
$1,389,286
Cap Rate 9%
$1,080,556
Alternative Uses
Best Use
Apartment 5plus
$1.39M
$1.22M – $1.62M
NOI $97,250 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.60M
$1.40M – $1.86M
NOI $111,679 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 48768, MI
9,648
Population
4,146
Households
2.3
Avg Household Size
43
Median Age
17%
College-Educated
92%
High-School Grad
105.9 sq mi
ZIP Area
91
Density / Sq Mi
$63,363
Median Household Income
$36,460
Median Earnings
$719
Median Rent
$137,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Farm - Three contiguous parcels totaling about 240 acres, including roughly 200 acres of tillable land, plus outbuildings and a farmhouse.
Where is this farm located?
The property is located at 7565 Ormes Road Vassar, MI.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Three contiguous parcels sold together totaling approximately 240 acres, with approximately 200 acres of tillable land.; Includes a 2,200 SF farmhouse with 4 bedrooms and 1 full bathroom.; Farmhouse features a hydraulic elevator providing access between the first floor and basement.
