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    2 Industrial Dr Mesick, MI 49668
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    2 Industrial Dr, Mesick, MI 49668

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    • Industrial properties
    • 2.53 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial properties

    Property Details for 2 Industrial Dr

    Lot size
    2.53 lot acres
    Property type
    Industrial properties

    Description

    This exceptional 2.53-acre commercially zoned parcel presents a rare opportunity for businesses seeking high visibility and convenient access. Located in Mesick, Michigan, this property enjoys prime frontage on Michigan Road M115, a major thoroughfare ensuring significant traffic exposure for any commercial enterprise. The site's strategic location within a high-traffic area guarantees maximum visibility and accessibility for customers and clients. The property is ready for development, boasting Class A road frontage and readily available utilities, eliminating the need for extensive infrastructure investment. This significantly reduces upfront costs and allows for a quicker start to operations. The expansive acreage offers ample space for various commercial uses, from warehousing and distribution to light manufacturing or retail establishments. The flat, usable land is ideal for construction and development, minimizing site preparation challenges. This is an exceptional opportunity to establish a thriving business in a highly visible and accessible location. The property's strategic positioning and readily available utilities make it an attractive investment for entrepreneurs and established businesses alike. Don't miss this chance to secure a prime commercial location in a dynamic area. The asking price is $99,900.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mesick
    County
    Wexford
    State
    Michigan
    Longitude
    -85.7074
    Latitude
    44.3751

    Comparable in this City

    • Value Estimation by Request
      53,580 SF

      6086 M-115

      Distribution properties
      6086 M-115, Mesick, MI 49668
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    • Value Estimation by Request
      4.49 Acres

      4901 Industrial Dr

      INDUSTRIAL (GENERAL)
      4901 Industrial Dr, Mesick, MI 49668-9525
      View Details
    • Value Estimation by Request
      1.07 Acres

      3 Industrial Dr

      Industrial properties
      3 Industrial Dr, Mesick, MI 49668
      View Details
    • Value Estimation by Request
      228.00 Acres

      1698 Number 1st Rd

      INDUSTRIAL (GENERAL)
      1698 Number 1st Rd, Mesick, MI 49668
      View Details
    • Value Estimation by Request
      3.00 Acres

      4941 Industrial Dr

      INDUSTRIAL (GENERAL)
      4941 Industrial Dr, Mesick, MI 49668-9525
      View Details
    • Value Estimation by Request
      18.35 Acres

      222 16th Rd

      INDUSTRIAL (GENERAL)
      222 16th Rd, Mesick, MI 49668-9726
      View Details

    Similar Nearby for Sale

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      Commercially Zoned Land on M115

      High-visibility commercial land with frontage on Michigan Road M115.
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    Mesick, MI 49668
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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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