Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5353 Us-223 Adrian, MI 49221
    Back to Search
    Property profile & analytics

    5353 Us-223 Adrian, MI 49221

    View on Map
    • Office Spaces
    • 64,358 SF
    • 11.08 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 5353 Us-223

    Year built
    1982
    Lot size
    11.08 lot acres
    Property size
    64,358 SF
    Property type
    Office Spaces
    Property subtype
    Industrial properties

    Description

    This exceptional 64,358-square-foot executive office building, located at 5353 W US-223 in Adrian, Michigan, presents a compelling investment opportunity. Constructed in 1982, this single-story Class B property sits on an expansive 11.08-acre lot, providing ample space and potential for future development. The building boasts 307 parking spaces, ensuring convenient access for employees and clients. Features include a 10-foot ceiling height, one loading dock, and a newly installed roof in 2022, minimizing immediate maintenance needs. The property also benefits from a backup generator, ensuring business continuity during power outages. Its prime location along US-223 offers excellent visibility and signage opportunities, enhancing its marketing potential. The property's APN is AD0132407500, and the zip code is 49221. This property is situated in Lenawee County, Michigan, and offers a rare combination of size, location, and features, making it an ideal acquisition for a variety of business needs. The substantial parking and expansive lot size provide flexibility for future expansion or additional development. This is a turnkey opportunity to acquire a well-maintained and strategically located commercial property in a thriving area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Adrian
    County
    Lenawee
    State
    Michigan
    Longitude
    -84.0923
    Latitude
    41.9051

    Comparable in this City

    • Value Estimation by Request
      5,232 SF

      3272 Us-223

      Distribution properties • 5,232 SF
      3272 Us-223, Adrian, MI 49221
      View Details
    • Value Estimation by Request
      0.34 Acres

      2000 Us Hwy 223blk

      INDUSTRIAL (GENERAL) • 0.34 Acres
      2000 Us Hwy 223blk, Adrian, MI 49221
      View Details
    • Value Estimation by Request
      9,322 SF

      2706 Maumee St

      INDUSTRIAL (GENERAL) • 9,322 SF
      2706 Maumee St, Adrian, MI 49221-3535
      View Details
    • Value Estimation by Request
      805,326 SF

      1450 Beecher St

      INDUSTRIAL (GENERAL) • 805,326 SF
      1450 Beecher St, Adrian, MI 49221-3562
      View Details
    • Value Estimation by Request
      491,035 SF

      3301 Sutton Rd

      INDUSTRIAL (GENERAL) • 491,035 SF
      3301 Sutton Rd, Adrian, MI 49221-9335
      View Details
    • Value Estimation by Request
      2,822 SF

      Tabor St

      INDUSTRIAL (GENERAL) • 2,822 SF
      Tabor St, Adrian, MI 49221
      View Details

    Similar Nearby for Sale

    • $129,900
      5,940 SF

      Adrian Industrial Building - $129,900

      Spacious industrial building, ideal for various uses. 0.61-acre lot.
      401 Tecumseh St, Adrian, MI 49221
      View Details
    • $239,000
      5,509 SF

      Warehouse and Office Space Available

      Well-maintained warehouse and office space with flexible layout.
      825 Beecher St, Adrian, MI 49221
      View Details
    • $250,000
      1,976 SF

      Downtown Adrian Commercial Property For Sale

      Unique commercial property in downtown Adrian with private parking.
      146 Toledo St, Adrian, MI 49221
      View Details
    • $100,000
      882 SF

      Adrian Office Building For Sale

      Commercial building in Adrian, Michigan, suitable for office or boutique.
      131 E Front St, Cadmus, MI 49221
      View Details
    • Contact for pricing
      3,301 SF

      Office Building on Main Thoroughfare

      2,800 SF office building with great visibility for sale.
      1360 W Maumee St, Adrian, MI 49221
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr

      1057 E. US HWY 223

      High Visibility Commercial Lease Opportunity
      1057 E Us Highway 223, Adrian, MI 49221
      View Details
    • $1,150 /Mo
      1,332 SF

      Downtown Adrian Office Space Available

      Office space with reception area and front/rear entrances for rent.
      111 N Main St, Adrian, MI 49221
      View Details
    • $1,100 /Mo
      864 SF

      Remodeled Office Space in Adrian

      Modern office with historic feel in downtown Adrian.
      103 E Maumee St, Adrian, MI 49221
      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.
    5353 Us-223
    Adrian, MI 49221
    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
    5353 Us-223, Adrian, MI, 49221
    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!