Two-Story Mixed-Use
New
For Sale
$109,000
9743 W Howard City Edmore Road, Lakeview, MI 48850
Commercial Sale, Lakeview, MI
Property Size600 SF
Lot Size0.81 Acres
Price / SF$181.67
Days on Market5
Property Features for 9743 W Howard City Edmore Road
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
High school
Lakeview High School
Elementary school district
Lakeview
Middle school district
Lakeview
High school district
Lakeview
Standard status
Active
APN
004-016-004-10
Size
600 SF
Lot size
0.81 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Beg 816.25 Ft E of NW Cor of NW 1/4 of SW 1/4; TH S 20 Rds ; E 6.5 RDS ; N 20 Rds ; W 6.5 Rds to POB Sec16 T12 R8W .81
Tax Annual Amount
1687
Legal Description
Beg 816.25 Ft E of NW Cor of NW 1/4 of SW 1/4; TH S 20 Rds ; E 6.5 RDS ; N 20 Rds ; W 6.5 Rds to POB Sec16 T12 R8W .81
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Water source
Well
Building Details
Year built
1958
Number of units
1
Listing Agency:
Coldwell Banker Lakes Realty · Coldwell Banker Real Estate
(231) 972-8300
Listed By:
Todd C. Lincoln · License #6501394276
(989) 560-4884
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 23 at 5:06AM
MLS# 26043940
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property occupies 0.81 acres along a major highway in Lakeview, Michigan. The primary improvement is a two-story concrete block building with a walk-out basement and an upper level that opens toward the parking area. The building measures 600 square feet, was constructed in 1958, and includes forced-air heating, broadband, and a bathroom.
The property is zoned for both commercial and residential use. A serviced mobile home or RV site includes water, septic, electric, and gas hookups. At the rear, a 24' x 28' two-story barn with electric service provides additional storage. The site has a well water source and natural gas available, with the building and outbuildings offering configuration for office, showroom, retail, contractor, or service-oriented operations as described in the property information.
The property is zoned for both commercial and residential use. A serviced mobile home or RV site includes water, septic, electric, and gas hookups. At the rear, a 24' x 28' two-story barn with electric service provides additional storage. The site has a well water source and natural gas available, with the building and outbuildings offering configuration for office, showroom, retail, contractor, or service-oriented operations as described in the property information.
Key Highlights
- 0.81‑acre mixed‑use property along a major highway in Lakeview, MI
- 600 square feet; two‑story concrete block building constructed in 1958
- Walk‑out basement and upper level opening toward the parking area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$7,452
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$149,040
$149.0K
Cap Rate 7%
$106,457
$106.5K
Cap Rate 9%
$82,800
$82.8K
Market Conditions
NOI Build-Up for 600 SF
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $7,452 @ 7.0% cap · market cap 6.84%
Second Best
Office B
$94.4K
$82.6K – $110.2K
NOI $6,610 @ 7.0% cap · market cap 6.06%
Theoretical Best
Healthcare Medical
$7.12M
$6.23M – $8.30M
NOI $498,219 @ 7.0% cap · market cap 457.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
Explore this area
Business Placement
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial and residential zoning accompanies a walk-out basement, on-site parking area, and separate storage barn.
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 $109,000.
What are key features of this property?
This property features: 0.81‑acre mixed‑use property along a major highway in Lakeview, MI; 600 square feet; two‑story concrete block building constructed in 1958; Walk‑out basement and upper level opening toward the parking area
