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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
    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
    Property size
    6,156 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional five-unit retail property in Brohman, Michigan, presents a lucrative investment opportunity. Spanning 6,156 square feet, the property boasts multiple income streams, including a thriving pizza restaurant (with strong online reviews and expansion potential), a sporting goods store, and apartment rentals. Additional income is generated from a U-Haul dealership, propane sales, and a post office lease ($650/month). Built in 1970, the complex includes five buildings and 12 parking spaces. The property features three electric services (including one 200-amp box split into two 100-amp boxes) and a propane tank for retail sales. The current owners may be willing to stay on for up to six months to ensure a smooth transition. The property is strategically located in Brohman, benefiting from high traffic due to its proximity to the Huron Manistee National Forests and various outdoor recreational activities. Existing permits allow for diverse uses, including storage, boat and mower repair, housing, restaurant operations, car sales, and rentals. The property's APN is 06-13-376-013. This is a rare chance to acquire a well-established, multi-faceted retail complex with significant upside potential. The asking price is $1,500,000 ($243.66/sq ft).

    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

    • Value Estimation by Request
      6,156 SF

      7310 Woodbridge Rd

      Restaurants • 6,156 SF
      7310 Woodbridge Rd, Brohman, MI 49312
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    • Value Estimation by Request
      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
      5,000 SF

      7172 Woodbridge Dr

      RESTAURANT • 5,000 SF
      7172 Woodbridge Dr, Brohman, MI 49312
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    • Value Estimation by Request
      1,085 SF

      7528 Woodbridge Ave

      RESTAURANT • 1,085 SF
      7528 Woodbridge Ave, Brohman, MI 49312-5129
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    • Value Estimation by Request
      11,603 SF

      7310 Woodbridge Dr

      RETAIL STORES (PERSONAL SERVICES) • 11,603 SF
      7310 Woodbridge Dr, Brohman, MI 49312
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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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