Commercial Land in Prime
For Sale
$199,999
Pending
80375 MAIN St, Memphis, MI 48041
Blank slate with commercial overlay, ideal for offices.
Property Size4,232 SF
Lot Size0.76 Acres
Days on Market211
Property Features for 80375 MAIN St
General Information
Standard status
Pending
Size
4,232 SF
Lot size
0.76 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$13,177
Building Details
Building Size
4,232 SF
Year Built
1946
Listed By:
Nathan E Smith
(586) 201-6280
Source:
Elliman
Added: Mar 10
Changed: Sep 26
Last Checked: Oct 5 at 7:43PM
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 Nathan E Smith
Investment Insights
Based on property information with market context.
This property presents a blank slate with many potential uses. It features a commercial overlay, making it suitable for offices, doctors' offices, dentists' offices, and various other commercial applications. The location is in the heart of Memphis, within walking distance of small-town amenities.
Key Highlights
- Commercial overlay allows for various business uses such as offices, doctors, and dentists.
- Blank slate to build the home of your dreams.
- Perfect location in the heart of Memphis.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,569
Cap Rate
7.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$291,380
$291.4K
Cap Rate 7%
$208,129
$208.1K
Cap Rate 9%
$161,878
$161.9K
Market Conditions
NOI Build-Up for 4,232 SF
Gross rent
$25.4K $6.00/SF
− Vacancy
−$6.0K −$1.41/SF
EGI
$19.4K $4.59/SF
− OpEx
−$4.9K −$1.15/SF
NOI
$14.6K $3.44/SF
Area
St. Clair County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$291,380
Cap Rate 7%
$208,129
Cap Rate 9%
$161,878
Alternative Uses
Best Use
Office B
$208.1K
$182.1K – $242.8K
NOI $14,569 @ 7.0% cap · market cap 7.28%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.18M
$2.78M – $3.71M
NOI $222,703 @ 7.0% cap · market cap 111.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 48041, MI
4,332
Population
1,838
Households
2.4
Avg Household Size
45
Median Age
17%
College-Educated
93%
High-School Grad
40.0 sq mi
ZIP Area
108
Density / Sq Mi
$87,599
Median Household Income
$50,551
Median Earnings
$867
Median Rent
$296,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Commercial land - Blank slate with commercial overlay, ideal for offices.
Where is this commercial land located?
The property is located at 80375 MAIN St Memphis, MI.
What is the asking price?
The asking price for this property is $199,999.
What are key features of this property?
This property features: Commercial overlay allows for various business uses such as offices, doctors, and dentists.; Blank slate to build the home of your dreams.; Perfect location in the heart of Memphis.
