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    Commercial Land on State Highway Title is generated by Realmo AI

    S STATE Road, Goodrich, MI 48438

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    Claim this Listing
    For Lease
    $1,000 /Mo

    LAND - Atlas Twp, MI

    Lot size:
    1.90 Acres
    Added:
    Apr 23, 2025
    Days on Market:
    394
    Last Refresh:
    May 21 at 8:06 am

    Property Features for S STATE Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Commercial
    Standard status
    Active
    APN
    0222400019
    Lot size
    1.90 Acres

    Taxes and HOA fees

    Tax Description
    A PARCEL OF LAND BEG AT A POINT ON WLY LINE OF CONSUMERS POWER COMPANY WHICH IS S 301.45 FT & S 30 DEG 13 MIN 28 SEC E 816.18 FT & N 64 DEG 50 MIN 41 SEC W 116.17 FT & S 30 DEG 14 MIN 40 SEC E 35.60 FT FROM SW COR OF HAWES SUBDIVISION, TH S 79 DEG 21 MIN 53 SEC W 155.21 FT TH S 82 DEG 19 MIN 09 SEC W 36.50 FT TH N 86 DEG 42 MIN 05 SEC W 63.52 FT TO E R/W LINE OF M-15 TH ON CURVE TO LEFT -CHORD- S 15 DEG 59 MIN 07 SEC E 264.57 FT TH S 88 DEG 18 MIN 46 SEC E 351.16 FT TO WLY LINE OF CONSUMERS POWER COMPANY R/W TH N 30 DEG 14 MIN 40 SEC W 340.96 FT TO PLACE OF BEG SEC 22 T6N R8E 1.90 A (90) FR 0200052246

    Utilities

    Water front features
    Creek

    We can help!

    Listing Contact
    Jeffery Dawley

    Listing agent Jeffery Dawley License #6502132748

    Listing office Atlas Real Estate 8491 State Road, Goodrich, MI

    Listing date Apr 23, 2025

    MLS# 20250026615 Listing URL

    Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 1.9 Acres for lease
    • High traffic count (approx. 15,000 per day)
    • Great exposure on State Highway
    • Versatile GBD (General Business District) zoning
    • Creek waterfront feature
    • Located just south of 8365 S State Rd

    Overview

    This 1.9-acre commercial land parcel is available for lease. Situated on a state highway, the property benefits from high traffic exposure, with an approximate count of 15,000 vehicles per day. The zoning is General Business District (GBD), offering versatile possibilities for various commercial uses. The property is located just south of 8365 S State Rd in Atlas Twp, MI.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Goodrich
    County
    Genesee
    State
    Michigan
    Longitude
    -83.500354
    Latitude
    42.90814

    Nearby Similar for Lease

    • $2,200/Mo
      1,150 SF

      Goodrich Commercial Space on M-15

      High-visibility commercial/industrial space on M-15 in Goodrich, Michigan.
      8267 S State Rd. Suite A, Goodrich, MI 48438
      View Details
    • $1,800/Mo
      1,900 SF

      Prime Commercial Space on M-15

      High-visibility commercial/industrial space on M-15 in Goodrich, MI.
      8267 S State Rd. Suite B, Goodrich, MI 48438
      View Details
    • $500/Mo
      120 SF

      Goodrich, MI Commercial Space

      Commercial space for rent in high-exposure location on M-15.
      8359 S STATE Road, Goodrich, MI 48438
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.9 acres of commercial land for lease.
    Where is this commercial land located?
    The property is located at S STATE Road Goodrich, MI.
    What is the lease rate?
    The lease rate is $1,000 /Mo.
    What are key features of this property?
    This property features: 1.9 Acres for lease; High traffic count (approx. 15,000 per day); Great exposure on State Highway
    (810) 636-3400
    We can help!
    Listing Contact
    Jeffery Dawley
    Real Estate License ID: 6502132748
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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