Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    415 Jerome Rd Midland, MI 48640

    Property Lookup

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

    415 Jerome Rd Midland, MI 48640

    View on Map
    • Specialty properties
    • 1,176 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 415 Jerome Rd

    Property size
    1,176 SF
    Property type
    Specialty properties
    Property subtype
    Land

    Description

    This exceptional 26,136 square foot commercial land parcel presents a unique development opportunity in the thriving city of Midland, Michigan. Located at the highly visible corner of Jerome Road (M-20) and Indian Street (Bus 10), this property boasts significant frontage on three major roadways, ensuring maximum exposure to a substantial daily traffic volume ranging from 10,000 to 18,000 vehicles, depending on the specific intersection. The site currently features a small, 1,176 square foot office building leased on a month-to-month basis, providing a potential immediate income stream while development plans are finalized. Zoned for mixed-use development, this property offers unparalleled flexibility for a variety of commercial ventures. Its prime location and high traffic counts make it an ideal investment for developers seeking a high-impact project in a dynamic and growing market. The asking price is $550,000. Don't miss this chance to capitalize on this exceptional Midland location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Midland
    County
    Midland
    State
    Michigan
    Longitude
    -84.2451
    Latitude
    43.6174

    Comparable in this City

    • Value Estimation by Request
      19,746 SF

      5821 Eastman Ave

      COMMERCIAL MISC • 19,746 SF
      5821 Eastman Ave, Midland, MI 48640-2692
      View Details
    • Value Estimation by Request
      31,596 SF

      3701 Jefferson Ave

      COMMERCIAL MISC • 31,596 SF
      3701 Jefferson Ave, Midland, MI 48640-3504
      View Details
    • Value Estimation by Request
      12,072 SF

      5920 Jefferson Ave

      COMMERCIAL MISC • 12,072 SF
      5920 Jefferson Ave, Midland, MI 48640-2923
      View Details
    • Value Estimation by Request
      69,925 SF

      6100 Perrine Rd

      COMMERCIAL MISC • 69,925 SF
      6100 Perrine Rd, Midland, MI 48640-2175
      View Details
    • Value Estimation by Request
      41,788 SF

      315 Larkin St

      COMMERCIAL MISC • 41,788 SF
      315 Larkin St, Midland, MI 48640-5152
      View Details
    • Value Estimation by Request
      24,474 SF

      5700 Jefferson Ave

      COMMERCIAL MISC • 24,474 SF
      5700 Jefferson Ave, Midland, MI 48640-2938
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale

      Land available for sale.
      5214 Bay City Rd, Midland, MI 48640
      View Details
    • Contact for pricing

      50 Acres of Land

      50 acres of land available for sale.
      S Poseyville Rd, Midland, MI 48640
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      4600 Bay City Rd, Midland, MI 48640
      View Details

    Similar Nearby for Lease

    • $1,050 /Mo
      680 SF

      Midland Office Space For Rent

      Second floor office space available in Midland, Michigan.
      5103 Eastman Ave, Midland, MI 48640
      View Details
    • $1,460 /Mo
      1,460 SF

      Office Space in Midland, MI

      Multiple office units available for rent in Midland, Michigan.
      720 W Wackerly St, Midland, MI 48640
      View Details
    • Contact for pricing
      5,071 SF

      Unique Pyramid-Shaped Office Building

      Exceptional 5,071 SF office space near Northwood University.
      4300 W Sugnet Rd, Midland, MI 48640
      View Details
    • Contact for pricing
      2,640 SF

      Clinical/Medical Office Suite For Rent

      Clinical/medical office suite with open floor plan and closed offices.
      2520 W Wackerly St, Midland, MI 48640
      View Details
    • $500 /Mo
      300 SF

      Office Space in Midland, MI

      Second-floor office space available for rent in Midland, Michigan.
      5103 Eastman Ave, Midland, MI 48640
      View Details
    • $1,800 /Mo

      Downtown Midland Commercial Rental Space

      Commercial unit with exposed brick, tall ceilings, and storefront frontage.
      132 E Main St, Midland, MI 48640
      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.
    415 Jerome Rd
    Midland, MI 48640
    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

    415 Jerome Rd, Midland, MI, 48640

    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!