Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    304 Michigan St Mount Pleasant, MI 48858
    Back to Search
    Property profile & analytics

    304 Michigan St Mount Pleasant, MI 48858

    View on Map
    • Office Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Holistic Hibiscus / Alternative Medicine Practice
    • Kirby Service and Supplies / Factory / Industrial Manufacturer
    • Good Earth Therapies / Physician
    • Great Lakes Distributions / Big Box & Wholesale Store / Factory
    • Dr. Nancy Hornak / Physician / Medical Clinic

    Property Details for 304 Michigan St

    Property type
    Office Spaces
    Property subtype
    Land

    Description

    This exceptional single-tenant office suite in downtown Mt. Pleasant offers a convenient and cost-effective solution for businesses seeking a professional workspace. Located at 304 W Michigan Street, the property boasts a generous 64-space private parking lot shared with other tenants, accessible from Michigan Avenue. The suite itself features a flexible layout, easily adaptable to a two-office configuration or a single office with reception area and kitchenette. Enjoy the benefits of a gross lease, where monthly rent includes all utilities except for communications (Wi-Fi, internet, ethernet, cable, and phone). The building's prime downtown location provides easy access to Broadway, ensuring convenient commutes and excellent visibility. Landlord responsibilities encompass exterior maintenance (trash removal and snow removal) and utility costs (electricity, heat, air conditioning, and water/sewer). A significant advantage is the absence of a security deposit, simplifying the leasing process. This is an ideal opportunity for a business seeking a well-maintained, conveniently located, and all-inclusive office space in a thriving downtown area. The property is situated in Isabella County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mount Pleasant
    County
    Isabella
    State
    Michigan
    Longitude
    -84.7795
    Latitude
    43.6037

    Comparable in this City

    • Value Estimation by Request

      308 Michigan St

      Land
      308 Michigan St, Mount Pleasant, MI 48858
      View Details
    • Value Estimation by Request
      1.36 Acres

      Collegiate Way

      Land • 1.36 Acres
      0 Collegiate Way, Union charter Township, MI 48858
      View Details
    • Value Estimation by Request
      1.95 Acres

      - Parcel A Blue Grass Rd

      Land • 1.95 Acres
      - Parcel A Blue Grass Rd, Mount Pleasant, MI 48858
      View Details
    • Value Estimation by Request
      7.12 Acres

      4861 Encore Dr

      Land • 7.12 Acres
      4861 Encore Dr, Mount Pleasant, MI 48858
      View Details
    • Value Estimation by Request
      13,928 SF

      4995 Pickard Rd

      Land • 13,928 SF
      4995 Pickard Rd, Mount Pleasant, MI 48858
      View Details
    • Value Estimation by Request
      51.70 Acres

      Crawford Rd

      Land • 51.70 Acres
      0 Crawford Rd, Mount Pleasant, MI 48858
      View Details

    Similar Nearby for Sale

    • $299,000
      6,120 SF

      Commercial Building in Mt. Pleasant

      Freestanding 6,120 SF building on a half-acre lot.
      1506 W High St, Mt Pleasant, MI 48858
      View Details
    • New
      $59,900
      1.40 Acres

      Mount Pleasant Acreage with Pole Barn

      1.4-acre parcel with pole barn and existing utilities near town.
      1491 S Leaton Rd, Mount Pleasant, MI 48858
      View Details
    • New
      $350,000
      92.00 Acres

      92 Acres Wooded Land

      92 acres of wooded land near Buck's Run Golf Course.
      92 Acres Riv E, Mount Pleasant, MI 48858
      View Details
    • $89,900
      11.00 Acres

      11 Acres Vacant Land Oasis

      11 acres of land with outbuildings and seasonal creek.
      5612 E Remus Rd, Mt Pleasant, MI 48858
      View Details
    • $1,250,000
      44.55 Acres

      Prime Land with River Frontage

      44+ acres with Chippewa River frontage near Mt Pleasant.
      5172 W Pickard Rd, Mt Pleasant, MI 48858
      View Details
    • $89,900

      11-Acre Outdoor Oasis with Creek

      11 acres with creek, outbuildings, and renovation potential.
      5612 E Remus Rd, Mount Pleasant, MI 48858
      View Details

    Similar Nearby for Lease

    • $5,175 /Mo
      10,000 SF

      Industrial Facility with Office Space

      10,000 SF industrial facility with office space for lease.
      515 Industrial Dr, Mt Pleasant, MI 48858
      View Details
    • $1,100 /Mo

      Downtown Mt. Pleasant Office Space

      Professional office space in downtown Mt. Pleasant's Cornerstone Building.
      300 S University Ave, Mt Pleasant, MI 48858
      View Details
    • $12,100 /Mo
      9,000 SF

      Mt Pleasant Office/Warehouse Space

      9,000 SF office space for lease in Mt Pleasant.
      711 W Pickard St, Mt Pleasant, MI 48858
      View Details
    • $18 SF/Yr
      1,435 SF

      Stadium Mall Retail/Office Space

      1,435 sq ft space in Stadium Mall near CMU.
      2312 S Mission St, Mt Pleasant, MI 48858
      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.
    304 Michigan St
    Mount Pleasant, MI 48858
    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
    304 Michigan St, Mount Pleasant, MI, 48858
    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!