Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    408 Maumee St Adrian, MI 49221
    Back to Search
    Property profile & analytics

    408 Maumee St, Adrian, MI 49221

    View on Map
    • Retail properties & Spaces
    • 19,833 SF
    • 3.83 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 408 Maumee St

    Year built
    1961
    Lot size
    3.83 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional investment opportunity presents a 19,833-square-foot Dollar Tree storefront located at 408 W Maumee St, Adrian, MI 49221. The property sits on a substantial 3.83-acre lot and boasts a strong 8.40% cap rate, generating a net operating income (NOI) of $145,500. The building, originally constructed in 1961, underwent a complete renovation in 2023, encompassing a new roof, HVAC system, plumbing, electrical work, and parking lot. This ensures a modern and well-maintained asset for the investor. The property is zoned for commercial use and features a single-story building. The current tenant, Dollar Tree, is operating under a triple-net (NNN) lease with a remaining term of approximately 9.7 years, commencing June 1, 2024, and expiring May 31, 2034. This long-term lease provides stability and predictable cash flow. The property's significant size and prime location in Lenawee County, Michigan, offer considerable value-add potential. This is a rare opportunity to acquire a high-performing, renovated retail property with a national tenant in a desirable market. The low rent per square foot further enhances the investment's attractiveness. This turnkey investment is ideal for those seeking a stable, high-yield return with significant long-term growth potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Adrian
    County
    Lenawee
    State
    Michigan
    Longitude
    -84.0419
    Latitude
    41.9006

    Comparable in this City

    • Value Estimation by Request
      5,280 SF

      217 Hwy

      Individual retail properties
      217 Hwy, Adrian, MI 49221
      View Details
    • Value Estimation by Request
      5,594 SF

      111 Lenawee County Addison Michigan

      Individual retail properties
      111 Lenawee County Addison Michigan, Adrian, MI 49221
      View Details
    • Value Estimation by Request
      1.30 Acres

      2000 Us-223 Block

      Individual retail properties
      2000 Us-223 Block, Adrian, MI 49221
      View Details
    • Value Estimation by Request
      33.00 Acres

      2000 Us-223

      Lifestyle centers
      2000 Us-223, Adrian, MI 49221
      View Details
    • Value Estimation by Request
      8,850 SF

      408 Maumee St

      Retail properties & Spaces
      408 Maumee St, Adrian, MI 49221
      View Details
    • Value Estimation by Request
      25.00 Acres

      2850 Us-223

      Self storage facilities
      2850 Us-223, Adrian, MI 49221
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Two Commercial Parcels For Sale

      Two commercial parcels totaling 2.26 acres, zoned B-2.
      1332-1344 W Beecher Rd, Adrian, MI 49221
      View Details
    • $265,000

      Mixed-Use Building with Retail Space

      Well-maintained mixed-use building with residential and retail units.
      114 E Maumee St, Adrian, MI 49221
      View Details
    • $399,900
      16,722 SF

      Downtown Corner Building with Parking

      Two-story commercial building with basement and on-site parking.
      148 S Winter St, Adrian, MI 49221
      View Details
    • New
      $319,000
      6,720 SF

      Commercial/Industrial Property in Adrian, MI

      Commercial/Industrial property with leased spaces and investment opportunity.
      725 W Beecher St, Adrian, MI 49221
      View Details
    • Contact for pricing

      Little Caesars Franchise with Real Estate

      Turn-key Little Caesars franchise with real estate for sale.
      1540 W Maumee St, Adrian, MI 49221
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,633 SF

      Retail Space on US-223

      Retail space available in Eastpointe Plaza, Adrian, Michigan.
      1675-1693 Us Highway 223, Adrian, MI 49221
      View Details
    • $13 SF/Yr

      1057 E. US HWY 223

      High Visibility Commercial Lease Opportunity
      1057 E Us Highway 223, Adrian, MI 49221
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease.
      1416-1424 S Main St, Adrian, MI 49221
      View Details
    • Contact for pricing

      Retail Space in Bustling Adrian

      Retail space in Adrian, close to downtown and local attractions.
      1407 W Maumee St, Adrian, MI 49221
      View Details
    • $2,000 /Mo

      Main Street Retail/Office Space

      3,680 sqft retail/office space for lease on Main Street.
      108 E Butler St, Adrian, MI 49221
      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.
    408 Maumee St
    Adrian, MI 49221
    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
    408 Maumee St, Adrian, MI, 49221
    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!