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    Property profile & analytics

    1001 Garfield Ave Bay City, MI 48708

    • Commercial real estate
    • 0.13 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0736439
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1001 Garfield Ave

    Year built
    1900
    Lot size
    0.13 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional Bay City, Michigan property at 1001 Garfield offers a unique investment opportunity. Located directly on Garfield/M-84, this 0.13-acre lot features a two-story, 1900-built building with significant potential. Currently vacant, the property includes a ground-floor retail space ideal for a variety of businesses, ready for immediate occupancy and customization. Upstairs, a two-bedroom apartment provides additional income potential through rental. The property boasts six parking spaces, a valuable asset for both retail customers and apartment tenants. The building's solid structure provides a strong foundation for future development or continued use. This is a rare chance to acquire a well-situated commercial property in a thriving Michigan community, with the potential for immediate rental income and long-term appreciation. The asking price is $69,900. The property is zoned for commercial use and is conveniently located in Bay County, Michigan, zip code 48708. This is a for-sale-by-owner opportunity. The property's prime location on a busy thoroughfare ensures high visibility and accessibility. With some minor improvements, this property can be transformed into a highly profitable venture. Don't miss this chance to own a piece of Bay City's vibrant commercial landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bay City
    County
    Bay
    State
    Michigan
    Longitude
    -83.8904537
    Latitude
    43.5812902

    Comparable in this City

    • $190,000

      Columbus Ave Commercial Building

      Bay City, MI: Prime Commercial Property
      1308 Columbus Ave, Bay City, MI 48708
      View Details
    • $349,000

      Midland Street Commercial Gem

      Historic Bay City Mixed-Use Property
      703 Midland St, Bay City, MI 48708
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    • $499,999
      24,000 SF

      Bay City Investment Opportunity

      24,000 SF building on over 5 acres in Bay City.
      201 Woodside Ln, Bay City, MI 48708
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    • $129,000

      Bay City Church and Gymnasium

      Church and gymnasium near downtown Bay City available for renovation.
      1120 N Grant St, Bay City, MI 48708
      View Details
    • $79,000
      19,500 SF

      Former School Building For Sale

      Former school building suitable for mixed-use redevelopment.
      1123 N Sherman St, Bay City, MI 48708
      View Details
    • Contact for pricing

      Commercial Corner Lot Opportunity

      Commercial corner lot suitable for new business ventures.
      1414 Kosciuszko Ave, Bay City, MI 48708
      View Details

    Similar Nearby for Sale

    • $190,000

      Columbus Ave Commercial Building

      Bay City, MI: Prime Commercial Property
      1308 Columbus Ave, Bay City, MI 48708
      View Details
    • $349,000

      Midland Street Commercial Gem

      Historic Bay City Mixed-Use Property
      703 Midland St, Bay City, MI 48708
      View Details
    • $499,999
      24,000 SF

      Bay City Investment Opportunity

      24,000 SF building on over 5 acres in Bay City.
      201 Woodside Ln, Bay City, MI 48708
      View Details
    • $129,000

      Bay City Church and Gymnasium

      Church and gymnasium near downtown Bay City available for renovation.
      1120 N Grant St, Bay City, MI 48708
      View Details
    • $79,000
      19,500 SF

      Former School Building For Sale

      Former school building suitable for mixed-use redevelopment.
      1123 N Sherman St, Bay City, MI 48708
      View Details
    • Contact for pricing

      Commercial Corner Lot Opportunity

      Commercial corner lot suitable for new business ventures.
      1414 Kosciuszko Ave, Bay City, MI 48708
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      7,000 SF

      Uptown Bay City Office Space

      Entire Floor, Riverfront Views, Flexible Layout
      21 Main St, Bay City, MI 48708
      View Details
    • $12 SF/Yr
      11,988 SF

      Downtown Bay City Retail Space

      Prime location, two suites available
      206 5Th St, Bay City, MI 48708
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    • $6 SF/Yr
      19,500 SF

      Bay City Mixed-Use Redevelopment Opportunity

      19,500 SF Former School Building - Available Now
      1123 Sherman St, Bay City, MI 48708
      View Details
    • $249,000
      3,000 SF

      Bay City Medical Office Opportunity

      Medical office building for lease or sale near McLaren Bay.
      1001 Mulholland St, Bay City, MI 48708
      View Details
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    1001 Garfield Ave
    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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