Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Land For Sale Title is generated by Realmo AI

    Siena Heights Drive & North Main St, Adrian, MI 49221

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Land available for sale.

    Type:Land
    Added:
    Apr 17, 2019
    Days on Market:
    2607
    Last Refresh:
    May 19 at 8:41 pm

    Property Features for Siena Heights Drive & North Main St

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Lou Frango

    Listing agent Lou Frango License #MI 6501235287

    Listing office Colliers - Royal Oak/Detroit, Michigan

    Listing date Apr 17, 2019

    Source Crexi

    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 Colliers - Royal Oak/Detroit, Michigan

    HighLights

    • No property information was provided to generate selling points.

    Overview

    Land is available for sale.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Adrian
    County
    Lenawee
    State
    Michigan
    Longitude
    -84.036025
    Latitude
    41.899566

    Nearby Similar for Sale

    • $1,200,000
      29,496 SF

      Spacious Commercial Property on US-223

      Nearly 30,000 sq ft commercial space on almost three acres.
      3818 E US 223, Adrian, MI 49221
      View Details
    • $890,000
      3,263 SF

      Turnkey Restaurant in High-Traffic Area

      Restaurant with loyal following near shopping, hotels, and colleges.
      1002 S Main St, Adrian, MI 49221
      View Details
    • $264,900
      2,160 SF

      Side-by-Side Ranch Duplex

      Well-maintained side-by-side ranch duplex with both units occupied by long-term tenants on a quiet cul-de-sac lot.
      2978 Lee Marie, Adrian, MI 49221
      View Details
    • $179,900
      1,766 SF

      Established Restaurant in Adrian, MI

      Well-established restaurant for sale in Adrian, Michigan.
      921 E Beecher, Adrian, MI 49221
      View Details
    • $319,000
      6,720 SF

      Commercial/Industrial Property in Adrian, MI

      Commercial/Industrial property with leased spaces and investment opportunity.
      725 W Beecher, Adrian, MI 49221
      View Details
    • $125,000

      Commercial Land Near Region Hospital

      2.10 acres of commercial land near new hospital.
      4587 N Adrian Highway, Adrian, MI 49221
      View Details
    • $139,900
      1,780 SF

      Adrian Multi-Family Investment Opportunity

      Three-unit property in Adrian, MI, generating $2,250 monthly income.
      632 Division, Adrian, MI 49221
      View Details
    • $140,000
      23,975 SF

      Former Hospital Redevelopment Opportunity

      Historic building in Adrian, Michigan, suitable for redevelopment.
      120 North Locust, Adrian, MI 49221
      View Details
    • $192,500
      1,632 SF

      Commercial Land in Adrian, MI

      Commercial land with updates on 1+ acre in Adrian.
      1105 E Beecher, Adrian, MI 49221
      View Details
    • $239,000
      5,509 SF

      Warehouse and Office Space Available

      Well-maintained warehouse and office space with flexible layout.
      825 Beecher Street, Adrian City, MI 49221
      View Details
    • $999,999

      Turnkey Provisioning Center For Sale

      Operating Adult-Use Provisioning Center with real estate and license included.
      1561 W Maumee St, Adrian, MI 49221
      View Details
    • $1,350,000
      18,040 SF

      Medical/Dental Office Investment Opportunity

      Two-story medical/dental office building with established tenants and high occupancy.
      770 Riverside Ave, Adrian, MI 49221
      View Details

    FAQs

    What type of property is this?
    Land - Land available for sale.
    Where is this land located?
    The property is located at Siena Heights Drive & North Main St Adrian, MI.
    What is the asking price?
    The asking price for this property is $80,000.
    What are key features of this property?
    This property features: No property information was provided to generate selling points.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Lou Frango
    Real Estate License ID: MI 6501235287
    Request Owner's contact information
    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.
    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.

    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Siena Heights Drive & North Main St, Adrian, MI 49221
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!