Two-Story Commercial Farm
1206 W Russell Rd Tecumseh, MI 49286
For Sale
Contact for pricing
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 Market2963
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
Listing Agency:
Howard Hanna Real Estate Services Inc Tecumseh
(248) 342-4604
Listed By:
Patrick Hoffman · License #OH SAL.2012002500
Source:
Crexi
Added: Jun 19, 2018
Changed: Jul 6
Last Checked: Jul 29 at 2:41PM
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
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 For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.8k | $17.04 |
| − Vacancy | −$4.7k | −$2.35 |
| EGI | $29.1k | $14.69 |
| − OpEx | −$7.3k | −$3.67 |
| NOI | $21.8k | $11.02 |
1,982 SF · lease $17.04/SF/yr · vacancy 13.80% · expense 25.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
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
