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    Shepherd, MI Multifamily Properties for Sale

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    Mount Pleasant, MI Saint Louis, MI Alma, MI
    Historic Mixed-Use Income Opportunity
    $489,000
    5,200 SF
    Historic Mixed-Use Income Opportunity

    323 W Wright Avenue, Shepherd, MI 48883

    Mixed-use property with retail and short-term rental income.
    • Prime Main Street location in a desirable area with high visibility and foot traffic.
    • Mixed‑use property with existing cash flow from retail and short‑term rentals (Airbnb).
    • Flexible configuration with potential for conversion to multifamily, student housing, or expanded commercial space.
    • Over 5000 sq ft of finished space, including a mostly finished lower floor with separate entrance.
    • Includes a vacant side lot with yardage and a large parking lot.
    Updated: Mar 21
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    Historic Mixed-Use Income Opportunity
    $489,000
    5,000 SF
    Historic Mixed-Use Income Opportunity

    323 W Wright Ave, Shepherd, MI 48883

    Rare mixed-use property with retail and short-term rental income.
    • Mixed‑use property with existing retail and short‑term rental income.
    • Prime Main Street location near restaurants, businesses, and a park.
    • Over 5000 finished sq ft with flexible configuration options.
    • Proximity to Central Michigan University (CMU) and Soaring Eagle Casino & Resort.
    • Large parking lot and vacant side lot included.
    Updated: Mar 31
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    Versatile Commercial Property on State Road
    $140,000
    43,560 SF
    Versatile Commercial Property on State Road

    Commercial property with storefronts, mobile homes, and development potential.

    4235 W Isabella, Shepherd, MI 48883

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    Based on your search, we've compiled 11 Potential Opportunities for your consideration. Besides 3 Active listings in Shepherd, MI, we suggest exploring several alternatives: 4 properties in Nearby Cities, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Two-Unit Residential Duplex
    $165,000
    1,759 SF
    Two-Unit Residential Duplex

    Two rental homes on one lot, each with separate beds and baths, currently leased through 2026.

    406 S Kinney, Mt Pleasant, MI 48858

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    Well-Maintained Duplex Near Campus
    $174,900
    2,188 SF
    Well-Maintained Duplex Near Campus

    Spacious duplex near campus, ideal for investors or homeowners.

    1915 Stockman, Mt Pleasant, MI 48858

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    Two Duplex Multifamily Property
    $319,900
    Two Duplex Multifamily Property

    Four occupied units in two duplexes, with recent roof, flooring, and interior paint updates.

    Mount Pleasant, MI 48858

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    Licensed Rental Property For Sale
    $245,000
    0.12 Acres
    Licensed Rental Property For Sale

    8 bedroom, 3 bath licensed rental property.

    1020 S Lansing St, Mount Pleasant, MI 48858

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    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Residential Land in Riverdale
    Contact for pricing
    0.67 Acres
    Residential Land in Riverdale

    Vacant residential land suitable for building or mobile home placement.

    TBD N Lumberjack Road, Riverdale, MI 48877

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    Sanford Vacant Land with Utilities
    Contact for pricing
    0.80 Acres
    Sanford Vacant Land with Utilities

    Two lots with water and electric hookups, lake access.

    978 timberlynn trail, Sanford, MI 48657

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    Recreational Land in Gated Community
    $44,000
    0.75 Acres
    Recreational Land in Gated Community

    0.75-acre lot with hookups in White Birch Lakes Association.

    4537 Pine Run, Farwell, MI 48622

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    Improved Marina Condominium Lot
    Contact for pricing
    0.01 Acres
    Improved Marina Condominium Lot

    Includes a boat slip and improved trailer setup for low-maintenance seasonal recreation near Au Gres amenities.

    831 S Main Street, Au Gres, MI 48703

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    Shepherd, MI Multifamily Properties Market Trends and Statistics

    Explore 3 multifamily properties for sale in Shepherd, MI, showcased through 3 active listings on our real estate platform. These investment opportunities span a total of 53,760 square feet of properties for sale, with an estimated market value of $1,118,000.

    Sale prices for multifamily properties in Shepherd, MI start at $140,000, averaging $372,666, and reaching up to $489,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Short term rental properties 2
    Mobile home & RV parks 1
    Quadplexes 1

    Demographics Overview

    Population 6,755
    Population Growth (5Y) -2.3%
    Median Household Income $66,364
    College Educated 26.7%

    High-Yield Neighborhoods for Investment

    Identify Shepherd submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    48883 $372.7K

    Taxes & Financing

    Tax Rate (average for all types) 4.58%
    Property Tax per SF $89.48 per SF
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Isabella County

    New Delisted

    Total CRE Inventory on Market (SF)

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