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    The Largest CRE Database in the US with Over 1 Million Listings

    837 South State St, Unit caro Caro, MI 48723

    Sponsored
    For Sale
    $299,000

    LARGE RETAIL STOREFRONT ON M-81

    Property size:
    3,550 SF

    Property Features for 837 South State St

    General Information

    Property type
    Storefront properties
    Square Feet
    3,550 SF
    Class
    A
    Total Parking Spaces
    10
    Lot Size
    0 SF

    Building Details

    Buildings
    1
    Stories
    1
    Units
    1

    Overview

    Retail Storefront on M-81

    This 3,550 sq ft commercial building is positioned in a high-visibility location and offers a versatile open layout suitable for a wide range of business uses. The space includes a dedicated office, a full bathroom, and a convenient storage room, facilitating both functional workflow and customer-facing operations. The property has been extensively remodeled since 2017, featuring updated windows, doors, roof, mechanicals, and electrical systems. A backup generator provides an extra layer of reliability for uninterrupted operations. Ample parking is available in the rear of the building, ensuring easy access for staff and clients. This turnkey property combines modern updates, flexibility, and exceptional exposure in a prime commercial setting.

    We can help!

    Listing Contact
    Evan Osentoski

    Learn more

    Property Insight Report
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Thumb Cooling & Heating Hardware & Home Improvement

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Caro
    State
    Michigan
    Longitude
    -83.3990823
    Latitude
    43.4869616

    Nearby Comparable

    • $249,900

      Commercial Land for Sale

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      Commercial Land for Sale

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      Restaurant, Bar with Apartments

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      Caro Industrial Property: Prime Location

      10,346 sq ft industrial building on 1.81 acres.
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    • $74,900
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      Prime Caro Commercial Land

      3.06 Acres, Excellent Location
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      61 Acres of Hardwood Forest

      Land with mature hardwoods, suitable for hunting or farming.
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      Prime Caro Commercial Land

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      Land For Sale

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      Value-Add Investment Opportunity

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    Nearby Similar for Sale

    • $450,000
      3,368 SF

      Restaurant, Bar with Apartments

      Restaurant/bar with two apartments in downtown Caro, Michigan.
      261 N State St, Caro, MI 48723
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    • $295,000
      5,024 SF

      Versatile Mixed-Use Property in Caro

      5-acre property with shop, apartment, and storage barn.
      4027 W Caro Rd, Caro, MI 48723
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    • $459,900

      Value-Add Investment Opportunity

      4. 5 acres with storage units, commercial space, apartment.
      3619 Mertz Rd, Caro, MI 48723
      View Details
    • $149,900
      1,600 SF

      Caro Industrial Property: Turnkey Business Opportunity

      Established Cleaners, 1600 sq ft, 0.67 acres
      815 Gibbs St, Caro, MI 48723
      View Details
    • $489,000
      10,346 SF

      Caro Industrial Property: Prime Location

      10,346 sq ft industrial building on 1.81 acres.
      1184 Cleaver Rd, Caro, MI 48723
      View Details
    • $349,000
      1,250 SF

      1004 West Caro Road, Caro, MI 48723

      FORMER MEDICAL OFFICE FOR SALE
      1004 West Caro Rd, Caro, MI 48723
      View Details

    FAQs

    What type of property is this?
    Storefront property - LARGE RETAIL STOREFRONT ON M-81
    Where is this storefront property located?
    The property is located at 837 South State St, Unit caro Caro, MI.
    What is the asking price?
    The asking price for this property is $299,000.
    (989) 551-6600
    Request Owner's contact information
    837 South State St, Unit caro Caro, MI 48723
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    Caro, MI 48723
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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
    837 South State St, Unit caro Caro, MI 48723
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    We can help!
    Listing Contact
    Evan Osentoski
    (989) 551-6600
    Learn more
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