Mixed-Use Property with
For Sale
Contact for pricing
Pending
9743 W Howard City Edmore Road, Lakeview, MI 48850
Two-story concrete block building includes a walk-out basement, parking area, and supporting utility infrastructure.
Property Size600 SF
Days on Market421
Property Features for 9743 W Howard City Edmore Road
General Information
Standard status
Pending
Size
600 SF
Property subtype
Special Purpose
Building Details
Year Built
9999
Listing Agency:
Coldwell Banker Lakes Realty
(989) 560-4884
Listed By:
Todd Lincoln · License #MI
Source:
Crexi
Added: Jul 8, 2025
Changed: Aug 29
Last Checked: Aug 31 at 1:09PM
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 Coldwell Banker Lakes Realty
Investment Insights
Based on property information with market context.
This mixed-use property occupies .81 acres at 9743 W Howard City Edmore Road in Lakeview, Michigan. The primary improvement is a two-story concrete block building with a walk-out basement and direct access from the upper level to a substantial parking area. The lower level can accommodate storage or workshop functions, while the building previously housed a plumbing and heating business.
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 adds separate storage capacity for equipment, inventory, or personal property. The combination of building space, parking, utility connections, and outbuilding supports a range of commercial and residential configurations.
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 adds separate storage capacity for equipment, inventory, or personal property. The combination of building space, parking, utility connections, and outbuilding supports a range of commercial and residential configurations.
Key Highlights
- .81‑acre mixed‑use property at 9743 W Howard City Edmore Road, Lakeview, MI 48850
- Two‑story concrete block building with a walk‑out basement
- Upper level provides direct access to a substantial 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
7.53%
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 7.53%
Second Best
Office B
$94.4K
$82.6K – $110.2K
NOI $6,610 @ 7.0% cap · market cap 6.68%
Theoretical Best
Healthcare Medical
$7.12M
$6.23M – $8.30M
NOI $498,219 @ 7.0% cap · market cap 503.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
74
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story concrete block building includes a walk-out basement, parking area, and supporting utility infrastructure.
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: .81‑acre mixed‑use property at 9743 W Howard City Edmore Road, Lakeview, MI 48850; Two‑story concrete block building with a walk‑out basement; Upper level provides direct access to a substantial parking area
