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    21 Main St Bay City, MI 48708
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    21 Main St Bay City, MI 48708

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

    Current Use by Public Records

    • Huntington Bank / Bank / Loan Service
    • Huntington Bank ATM (Walk Up) / Atm

    Property Details for 21 Main St

    Property type
    Office Spaces

    Description

    This exceptional opportunity presents the chance to lease the entire 3rd floor of the Huntington Bank building in Uptown Bay City's premier riverfront development. Boasting 3,500 to 7,000 square feet of unfinished space, this Class A office suite offers unparalleled flexibility for customization and distinctive design. Enjoy breathtaking views of downtown Bay City and the Saginaw River from this single-tenant space. The location provides a vibrant "live, work, play" environment, combining the prestige of a Class A office building with the energy of Bay City's Uptown/Downtown area and its numerous residential options. The blank canvas allows for complete design freedom, enabling tenants to create a workspace perfectly tailored to their specific needs and brand identity. This is an ideal location for businesses seeking a prestigious and adaptable office space in a thriving urban setting. The property is located in Bay County. The space is perfect for businesses seeking a high-profile location with stunning views and the ability to create a truly unique and functional office environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Bay City
    County
    Bay
    State
    Michigan
    Longitude
    -83.8925
    Latitude
    43.5911

    Comparable in this City

    • Value Estimation by Request
      3,980 SF

      1704 Woodside Ave

      Office Spaces • 3,980 SF
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    • Value Estimation by Request

      800 Washington Ave

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      800 Washington Ave, Bay City, MI 48708
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    • Value Estimation by Request
      3,772 SF

      905 Ctr Ave

      OFFICE BUILDING • 3,772 SF
      905 Ctr Ave, Bay City, MI 48708-6117
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    • Value Estimation by Request
      4,650 SF

      1420 Ctr Ave

      OFFICE BUILDING • 4,650 SF
      1420 Ctr Ave, Bay City, MI 48708-6110
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    • Value Estimation by Request
      3,120 SF

      414 Tuscola Rd

      MEDICAL BUILDING • 3,120 SF
      414 Tuscola Rd, Bay City, MI 48708-6962
      View Details
    • Value Estimation by Request
      4,000 SF

      111 Washington Ave

      OFFICE BUILDING • 4,000 SF
      111 Washington Ave, Bay City, MI 48708-5845
      View Details

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    Similar Nearby for Lease

    • $18 SF/Yr

      Class A Office Space Available

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      7,000 SF

      Uptown Bay City Office Space

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    21 Main St
    Bay City, MI 48708
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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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