Two-Story Commercial Farm
For Sale
Contact for pricing
1206 W Russell Rd, Tecumseh, MI 49286
Two-story brick farm house on 3.55 acres zoned commercial.
Property Size1,982 SF
Lot Size3.55 Acres
Price / SF$126.14
Days on Market3055
Property Features for 1206 W Russell Rd
General Information
Standard status
Active
Size
1,982 SF
Lot size
3.55 Acres
Property subtype
Mixed Use, Multifamily, Office, Retail
Zoning
C-1 Commercial
Building Details
Buildings
1
Stories
2
Units
1
Listing Agency:
Howard Hanna Real Estate Services Inc Tecumseh
Listed By:
Patrick Hoffman · License #OH SAL.2012002500
(248) 342-4604
Source:
Crexi
Added: Jun 19, 2018
Changed: Oct 25
Last Checked: Oct 28 at 6:01AM
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 Howard Hanna Real Estate Services Inc Tecumseh
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a large two-story brick farm house situated on a 3.55-acre lot zoned for commercial use. The property is located next to a medical office on its west side. To the east, there is an electrical contractor, an ice cream stand with miniature golf, and auto repair shops. Across the street are the City of Tecumseh and residential properties. The property size is 1982 square feet.
Key Highlights
- 3.55 acre lot zoned commercial
- Large two story brick farm house
- Located next to a medical office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,834
Cap Rate
8.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$436,680
$436.7K
Cap Rate 7%
$311,914
$311.9K
Cap Rate 9%
$242,600
$242.6K
Market Conditions
NOI Build-Up for 1,982 SF
Gross rent
$33.8K $17.04/SF
− Vacancy
−$4.7K −$2.35/SF
EGI
$29.1K $14.69/SF
− OpEx
−$7.3K −$3.67/SF
NOI
$21.8K $11.02/SF
Area
Lenawee County, MI
Vacancy
13.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$436,680
Cap Rate 7%
$311,914
Cap Rate 9%
$242,600
Alternative Uses
Best Use
Apartment 5plus
$21.89M
$19.16M – $25.54M
NOI $1,532,468 @ 7.0% cap · market cap 612.99%
Second Best
Office B
$311.9K
$272.9K – $363.9K
NOI $21,834 @ 7.0% cap · market cap 8.73%
Theoretical Best
Multifamily LT 5
$24.59M
$21.52M – $28.69M
NOI $1,721,329 @ 7.0% cap · market cap 688.53%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
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Business Placement
Demographics for 49286, MI
14,991
Population
6,144
Households
2.4
Avg Household Size
45
Median Age
27%
College-Educated
95%
High-School Grad
58.2 sq mi
ZIP Area
258
Density / Sq Mi
$73,054
Median Household Income
$37,480
Median Earnings
$954
Median Rent
$221,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story brick farm house on 3.55 acres zoned commercial.
Where is this mixed-use property located?
The property is located at 1206 W Russell Rd Tecumseh, MI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 3.55 acre lot zoned commercial; Large two story brick farm house; Located next to a medical office
