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    7310 Woodbridge Rd Brohman, MI 49312
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    7310 Woodbridge Rd Brohman, MI 49312

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    • Retail properties & Spaces
    • 6,156 SF
    • 3.43 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 7310 Woodbridge Rd

    Year built
    1970
    Lot size
    3.43 lot acres
    Property size
    6,156 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional investment opportunity presents a 6,156 square foot retail complex situated on a 3.43-acre lot in Brohman, Michigan (49312). The property, built in 1970, comprises five buildings with a total of five units and twelve parking spaces. Currently generating income from diverse sources including a successful pizza takeout (with online reviews), ice cream sales, a sporting goods store, apartment rentals, U-Haul services, propane sales, and a leased portion for a future post office. The property boasts permits for a wide range of uses, including storage, boat and mower repair, housing, restaurant operations, car sales, and rentals. Located in a high-traffic area benefiting from vacationers and outdoor enthusiasts frequenting the Huron Manistee National Forest, this property offers significant upside potential. The asking price is $1,500,000 ($243.66/sq ft). The main building features an 8-foot ceiling height and a 1 ½ inch well supplying water (to be replaced by the seller with an acceptable offer). The seller will also complete the metal roofing on the main building upon acceptance of an offer. The property includes three separate septic systems: one for the pizza kitchen and apartments, one for restrooms and fish water in the main building, and one for the northern buildings. Negotiable possession terms include the possibility of the current owners remaining for up to six months to ensure a smooth business transition. The property's strong online presence and multiple income streams make it an attractive investment prospect with considerable growth potential. APN: 06-13-376-013.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Brohman
    County
    Newaygo
    State
    Michigan
    Longitude
    -85.8149
    Latitude
    43.6863

    Comparable in this City

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      1,085 SF

      7528 Woodbridge Ave

      RESTAURANT • 1,085 SF
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      9,413 SF

      7637 Woodbridge Rd

      Lifestyle centers • 9,413 SF
      7637 Woodbridge Rd, Brohman, MI 49312
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    • Value Estimation by Request
      6,156 SF

      7310 Woodbridge Rd

      Retail properties & Spaces • 6,156 SF
      7310 Woodbridge Rd, Brohman, MI 49312
      View Details
    • Value Estimation by Request
      3,084 SF

      7279 Woodbridge Ave

      RESTAURANT • 3,084 SF
      7279 Woodbridge Ave, Brohman, MI 49312-5128
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    • Value Estimation by Request
      3,360 SF

      7586 Woodbridge Ave

      CONVENIENCE STORE • 3,360 SF
      7586 Woodbridge Ave, Brohman, MI 49312-5129
      View Details

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    Brohman, MI 49312
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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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