Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    212 South Pine River St Ithaca, MI 48847

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $645,000

    36,614 SF building with office space and drive-in doors.

    Property size:
    36,614 SF

    Property Features for 212 South Pine River St

    General Information

    Size
    36,614 SF

    Building Details

    Year built
    1970
    Source: Remaxcommercial

    Listing Agent: Matthew Wisniewski, Ccim

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Versatile Industrial Building in Ithaca

    Located at 212 S Pine River St in Ithaca, Michigan, this 36,614 square foot building offers a corner location at Pine River and E Newark. The property features 2,800 square feet of office space, three 14' drive-in doors, and two additional drive-in doors that were previously dock-level and filled with gravel. There is also 1,160 square feet of mezzanine storage and a second-floor lounge area with a full bathroom. Ceiling heights range from 14 to 16 feet. The site includes paved parking areas accessible from Newark and a newly replaced gable shingled roof on the back portion of the building. The property is located in Gratiot County, minutes from US-127, providing access to regional transportation routes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Clean Harbors Waste Management Service Schrader Environmental Environmental Consultant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Similar Places Nearby

    S&S Mini Storage

    Location Insight

    • Map
    • Local Demand
    City
    Ithaca
    County
    Gratiot
    State
    Michigan
    Longitude
    -84.606964
    Latitude
    43.29369

    Nearby Similar for Sale

    • New
      $95,000
      952 SF

      Versatile Commercial Building on Corner Lot

      Adaptable commercial space with high visibility and drive-thru potential.
      725 Center St E, Ithaca, MI 48847
      View Details
    • $2,500,000
      5,500 SF

      Steel Art Studio and Retail

      Thriving artisan enterprise with retail destination in Ithaca, Michigan.
      5348 S Bagley Rd, Ithaca, MI 48847
      View Details
    • $1,000,000
      3,350 SF

      Operating Restaurant Building For Sale

      3,350 SF operating restaurant with redevelopment potential in Ithaca, MI.
      1335 E Center St, Ithaca, MI 48847
      View Details
    • $214,900
      5,198 SF

      Ithaca Industrial Multi-Use Building

      High-income potential, versatile space.
      142 Center St, Ithaca, MI 48847
      View Details
    • $150,000
      1,890 SF

      Ithaca Industrial Corner Lot

      High-visibility, 1890 sq ft industrial building.
      1126 Center St, Ithaca, MI 48847
      View Details
    • $1,000,000
      3,350 SF

      Ithaca Restaurant - $1M Asking Price

      Established Restaurant, High Visibility, US-127 Access
      1335 Center St, Ithaca, MI 48847
      View Details

    FAQs

    What type of property is this?
    Warehouse - 36,614 SF building with office space and drive-in doors.
    Where is this warehouse located?
    The property is located at 212 South Pine River St Ithaca, MI.
    What is the asking price?
    The asking price for this property is $645,000.
    What are key features of this property?
    This property features: - Large 36,614 sq ft building with versatile space.; - Prime corner location at Pine River and E Newark.; - Three 14' drive-in doors for easy access.
    (517) 321-2800
    Request Owner's contact information
    212 South Pine River St Ithaca, MI 48847
    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.
    212 South Pine River St
    Ithaca, MI 48847
    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.

    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
    212 South Pine River St Ithaca, MI 48847
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.