Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    104 Main St Waldron, MI 49288
    Back to Search
    Property profile & analytics

    104 Main St Waldron, MI 49288

    View on Map
    • Commercial real estate
    • 1,932 SF
    • 0.06 lot acres
    For Sale
    $184,900
    View Listing →
    Historic Waldron Industrial Building For Sale
    $184,900
    4,242 SF

    Historic Waldron Industrial Building

    Spacious industrial building, rich history, modern updates.

    104 Main St, Waldron, MI 49288
    View Listing
    Property ID
    US43-2909374
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 104 Main St

    Year built
    1900
    Lot size
    0.06 lot acres
    Property size
    1,932 SF
    Property type
    Commercial real estate
    APN
    17-065-001-018
    APU
    17065001018

    Description

    This exceptional industrial property at 104 S Main, Waldron, MI, presents a unique blend of historical charm and modern functionality. Boasting a total of 4,242 square feet, the building offers ample space for a variety of commercial uses. The main level encompasses over 3,200 square feet of office space, ideal for a growing business. Five individual offices provide flexibility for different teams or departments. A dedicated break room adds convenience for employees. Adding to the practicality is a four-car attached garage, providing secure parking and additional storage. The lower level features an additional 1,000 square feet of basement space, perfect for storage or future expansion. A significant portion of the building dates back to the late 1800s, having served as Waldron's original bank. This rich history is evident in the stunning woodwork, a preserved vintage vault, and other charming period details. A substantial addition, constructed in 2001, seamlessly integrates modern amenities with the building's historical character. The property sits on a 0.12-acre lot in the heart of Waldron. The combination of historical significance, substantial square footage, and modern updates makes this property an exceptional value in Hillsdale County. The asking price is $184,900. This is a rare opportunity to own a piece of history while enjoying a functional and adaptable commercial space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Waldron
    County
    Hillsdale
    State
    Michigan
    Longitude
    -84.4192
    Latitude
    41.728
    CBSA code
    25880
    CBSA name
    HILLSDALE, MI MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $505
    $0.00
    $0.00
    $21,100
    -
    $1,110
    $41,126
    $42,236

    Comparable in this City

    • Value Estimation by Request
      30.00 Acres

      14785 Camden Rd, Unit 5

      COMMERCIAL (GENERAL) • 30.00 Acres
      14785 Camden Rd, Waldron, MI 49288-9640
      View Details
    • Value Estimation by Request
      2.20 Acres

      15039 Seeley Rd

      COMMERCIAL (GENERAL) • 2.20 Acres
      15039 Seeley Rd, Waldron, MI 49288-9616
      View Details
    • Value Estimation by Request

      Nen E St

      COMMERCIAL (GENERAL)
      Nen E St, Waldron, MI 49288
      View Details
    • Value Estimation by Request
      12.05 Acres

      305 Ctr St

      COMMERCIAL (GENERAL) • 12.05 Acres
      305 Ctr St, Waldron, MI 49288-9685
      View Details
    • Value Estimation by Request
      6.86 Acres

      Church St

      COMMERCIAL (GENERAL) • 6.86 Acres
      Church St, Waldron, MI 49288
      View Details
    • Value Estimation by Request

      200 Water St, Unit 5

      COMMERCIAL (GENERAL)
      200 Water St, Waldron, MI 49288
      View Details

    Similar Nearby for Sale

    • $184,900
      4,242 SF

      Historic Waldron Industrial Building

      Spacious industrial building, rich history, modern updates.
      104 Main St, Waldron, MI 49288
      View Details
    • $399,500
      40.00 Acres

      Productive Farmland with Machinery Shed

      40 acres of farmland with tillable acreage and machinery shed.
      10800 South Rd, Waldron, MI 49288
      View Details
    • New
      $70,000
      4,242 SF

      Retail Space in Waldron, MI

      Retail space available for sale in Waldron, Michigan.
      104 S Main St, Waldron, MI 49288
      View Details
    • New
      $70,000
      4,242 SF

      Versatile Commercial Space in Waldron

      Unique commercial space with retail, offices, and storage.
      104 S Main St, Waldron, MI 49288
      View Details
    View Listing
    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.
    104 Main St
    Waldron, MI 49288
    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
    104 Main St, Waldron, MI, 49288
    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!