Building Details

Building Size 600 SF

Year Built 1958

Buildings 2

Stories 600

Construction concrete block

Listing Agency: Coldwell Banker Lakes Realty Show Phone

Listed By: Todd C. Lincoln · License #6501394276 Show Phone

Source: Ensleyteam

Added: Oct 31 Last Checked: Oct 31 at 3:31AM

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Investment Insights

Based on property information with market context.

This 0.81-acre mixed-use property includes a two-story concrete block building with a walk-out basement. The upper level connects directly to a parking area. A separate site is equipped for a mobile home or RV, with water, septic, electric, and gas hookups. The property was built in 1958.

At the rear, a two-story barn measuring 24' x 28' has electric service. The property fronts W Howard City Edmore Road in Lakeview, Michigan.

Key Highlights

• 0.81‑acre property zoned for commercial and residential use
• Two‑story concrete block building with a walk‑out basement
• Upper level opens to a parking area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$7,452

Cap Rate

7.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$149,040 $149.0K

Cap Rate 7%

$106,457 $106.5K

Cap Rate 9%

$82,800 $82.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 600 SF

Gross rent

$13.0K $21.60/SF

− Vacancy

−$1.0K −$1.73/SF

EGI

$11.9K $19.87/SF

− OpEx

−$4.5K −$7.45/SF

NOI

$7.5K $12.42/SF

Area

Calhoun County, MI

Vacancy

8.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$149,040

Cap Rate 7%

$106,457

Cap Rate 9%

$82,800

Alternative Uses

Best Use

Mixed Use

$106.5K

$93.2K – $124.2K (±1% cap)

NOI $7,452 @ 7.0% cap · market cap 7.53%

Second Best

Retail

$89.0K

$77.9K – $103.8K (±1% cap)

NOI $6,229 @ 7.0% cap · market cap 6.29%

Theoretical Best

Healthcare Medical

$7.12M

$6.23M – $8.30M (±1% cap)

NOI $498,219 @ 7.0% cap · market cap 503.25%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Retail space

Lease Details

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

74

Businesses Nearby

74k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 65% Dining 35%

Wesco Shops & Services

25,735 visits/mo 0.5 miles

McDonald's Dining

23,736 visits/mo 0.5 miles

Dollar General Shops & Services

7,033 visits/mo 0.4 miles

Sunoco Shops & Services

5,141 visits/mo 0.2 miles

BP Shops & Services

5,087 visits/mo 0.4 miles

Demographics for 48850, MI

4,563

Population

1,973

Households

2.3

Avg Household Size

41

Median Age

14%

College-Educated

88%

High-School Grad

83.2 sq mi

ZIP Area

55

Density / Sq Mi

$65,064

Median Household Income

$41,473

Median Earnings

$665

Median Rent

$170,700

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Similar For Sale Nearby

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Mixed-Use Building with Apartments

410 S Lincoln Avenue, Lakeview, MI 48850

$250,000

4,224 SF

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Automotive Service Retail Building

223 W North St, Lakeview, MI 48850

$429,900

4,840 SF

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Leased Specialty Property

10300 Howard City Edmore Rd, Lakeview, MI

$475,000

6,068 SF

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Leased Office Building

10300 W Howard City-Edmore, Lakeview, MI 48850

$475,000

6,068 SF

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Multi-Tenant Office Building

228 S Lincoln Ave, Lakeview, MI 48850

$525,000

7,387 SF

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Commercial and residential zoning accompanies a serviced mobile home or RV hookup area.

Where is this mixed-use property located?

The property is located at 9743 W Howard City Edmore Road Lakeview, MI.

What is the asking price?

The asking price for this property is $99,000.

What are key features of this property?

This property features: 0.81‑acre property zoned for commercial and residential use; Two‑story concrete block building with a walk‑out basement; Upper level opens to a parking area