Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1523 M28 Seney, MI 49883

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1523 M28 Seney, MI 49883

    View on Map
    • Industrial properties
    • 6,954 SF
    • 0.33 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial properties

    Property Details for 1523 M28

    Year built
    1955
    Lot size
    0.33 lot acres
    Property size
    6,954 SF
    Property type
    Industrial properties

    Description

    This exceptional 6,954 square foot industrial property presents a compelling investment opportunity. Situated on a prominent 0.33-acre lot with 160 feet of frontage along the busy M28 highway, this location ensures high visibility and significant traffic flow. The building is strategically divided into sections, offering diverse income streams and expansion potential. A portion of the building is currently leased to the United States Post Office, providing a stable and reliable income source. The remaining space is occupied by an established breakfast diner, which also includes retail space. This versatile layout offers numerous possibilities for future tenants or business ventures. Potential uses could include, but are not limited to, a laundromat, antique shop, or storage rental facility. The high traffic count and strategic location make this property ideal for a variety of businesses seeking a high-visibility presence in a thriving community. The asking price for this income-generating property is $295,000. This represents a significant opportunity for investors seeking a strong return on investment in a prime commercial location. The property's size, location, and existing tenancy make it an attractive proposition for both established businesses and new ventures.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Seney
    County
    Schoolcraft
    State
    Michigan
    Longitude
    -86.2414
    Latitude
    46.346

    Comparable in this City

    • Value Estimation by Request
      1,944 SF

      1521 State Hwy M28m-28

      MINI-WAREHOUSE, STORAGE • 1,944 SF
      1521 State Hwy M28m-28, Seney, MI 49883
      View Details
    • Value Estimation by Request
      2,400 SF

      1770 County Rd 450

      MINI-WAREHOUSE, STORAGE • 2,400 SF
      1770 County Rd 450, Seney, MI 49883
      View Details
    • Value Estimation by Request
      7,944 SF

      1523 State Hwy M28

      OFFICE/RESIDENTIAL (MIXED USE) • 7,944 SF
      1523 State Hwy M28, Seney, MI 49883
      View Details
    • Value Estimation by Request
      1,920 SF

      10795 Grand St

      BAR, TAVERN • 1,920 SF
      10795 Grand St, Seney, MI 49883
      View Details
    • Value Estimation by Request
      2,190 SF

      1540 State Hwy M28

      MOTEL • 2,190 SF
      1540 State Hwy M28, Seney, MI 49883
      View Details
    • Value Estimation by Request
      3,392 SF

      1538 Railroad St

      MOTEL • 3,392 SF
      1538 Railroad St, Seney, MI 49883
      View Details

    Similar Nearby for Sale

    • $295,000
      6,954 SF

      Commercial Property on Main Highway

      Commercial property with rental income and business opportunities on M28.
      1523 W M 28, Seney, MI 49883
      View Details
    • $715,000
      480.00 Acres

      Land with Four Private Lakes

      480 acres with four private lakes near Seney, Michigan.
      0000 Near Old Seney, Seney, MI 49883
      View Details
    • Contact for pricing
      6,954 SF

      Commercial Property on M28 Highway

      Commercial property with rental income and business opportunities on M28.
      1523 W M 28, Seney, MI 49883
      View Details
    • New
      $1,200,000

      Commercial Property in Seney, MI

      Commercial property for sale in Seney, Michigan.
      10795 Grand St, Seney, MI 49883
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1523 M28
    Seney, MI 49883
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    1523 M28, Seney, MI, 49883

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!