Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1355 Eaton St Albion, MI 49224-1040

    • Grocery and convenience stores
    • 2,428 SF
    • 1.07 lot acres
    OFF-MARKET
    Last Sale
    Sep 23, 2024
    $270,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2250939
    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

    • Sunoco / Gas Station
    • bp / Gas Station / Car Wash
    • ATM / Atm

    Property Details for 1355 Eaton St

    Year built
    1958
    Lot size
    1.07 lot acres
    Property size
    2,428 SF
    Zone code
    C
    Property type
    Grocery and convenience stores
    APN
    51-005-915-00
    APU
    5100591500

    Description

    This 2,428 square foot retail building, located at 1355 N Eaton St, Albion, MI 49224, is available for $899,000 ($370.26/sq ft). Completely renovated in 2024, this single-story building sits on a 1.07-acre lot and features 20 parking spaces. The property is zoned B4 and boasts a prime location near downtown Albion and minutes from a local college. Surrounding businesses include McDonald's, Taco Bell, Pizza Hut, a Ford dealership, and a Speedway gas station, indicating high traffic and visibility. The building's previous use was a convenience store/grocery store, and while suitable for similar ventures, a deed restriction prohibits the establishment of a gas station. The deep lot offers significant potential for expansion or additional uses. The building's 1958 construction has been completely modernized with the 2024 renovation. This is a fantastic opportunity for an investor seeking a well-located, recently renovated retail space in a thriving area. The property's APN is 5100591500.

    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
    Albion
    County
    Calhoun
    State
    Michigan
    Longitude
    -84.7568
    Latitude
    42.2586
    CBSA code
    12980
    CBSA name
    BATTLE CREEK, MI METROPOLITAN 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
    2022
    $6,397
    $0.00
    $0.00
    $108,900
    -
    $0.00
    $0.00
    $217,800

    Comparable in this City

    • Value Estimation by Request
      1,680 SF

      1501 Eaton St

      CONVENIENCE STORE • 1,680 SF
      1501 Eaton St, Albion, MI 49224-8415
      View Details
    • Value Estimation by Request
      3,300 SF

      201 Perry St

      GROCERY, SUPERMARKET • 3,300 SF
      201 Perry St, Albion, MI 49224-1716
      View Details
    • Value Estimation
      $1,800,000
      2,955 SF

      1512 Eaton St

      CONVENIENCE STORE • 2,955 SF
      1512 Eaton St, Albion, MI 49224-8415
      View Details
    • Value Estimation by Request
      2,952 SF

      101 Michigan Ave

      CONVENIENCE STORE • 2,952 SF
      101 Michigan Ave, Albion, MI 49224-1735
      View Details
    • Value Estimation
      $1,670,000
      39,417 SF

      1406 Eaton St

      GROCERY, SUPERMARKET • 39,417 SF
      1406 Eaton St, Albion, MI 49224-9470
      View Details
    • Value Estimation by Request
      2,720 SF

      217 Austin Ave

      CONVENIENCE STORE • 2,720 SF
      217 Austin Ave, Albion, MI 49224-1224
      View Details

    Similar Nearby for Sale

    • $250,000
      3,200 SF

      Albion Pharmacy - Turnkey Opportunity

      Prime Albion retail space, drive-thru, basement storage.
      120 Clark St, Albion, MI 49224
      View Details
    • $850,000

      Commercial Property Near I-94

      Commercial property with parking, suitable for various businesses, near I-94.
      1410 N Eaton St, Albion, MI 49224
      View Details
    • $40,000
      1,193 SF

      Versatile Commercial Building in Albion

      Commercial building on busy road, suitable for retail or office.
      16987 W Michigan Ave, Albion, MI 49224
      View Details
    • $419,000
      6,000 SF

      Retail Space Near I-94

      6,000 SF retail space with high visibility and ample parking.
      1402 N Eaton St, Albion, MI 49224
      View Details
    • $2,350,000
      72,118 SF

      Albion Hotel: Prime Investment Opportunity

      62-Room Hotel, 72,118 sq ft, Michigan
      27644 C-Drive, Albion, MI 49224
      View Details
    • $250,000
      31.72 Acres

      Albion Hunting Land For Sale

      31.72 acre hunting tract with mature timber and cover.
      N Concord Rd, Albion, MI 49224
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr

      Versatile Industrial Property with I-94 Views

      Industrial property with versatile leasing options and I-94 visibility.
      15620 W Michigan Ave, Albion, MI 49224
      View Details
    • $21 SF/Yr
      4,400 SF

      Albion Medical Office Building

      Single-tenant medical office, Albion, MI
      0 Michigan Ave, Albion, MI 49224
      View Details
    • $7 SF/Yr
      10,400 SF

      Albion Industrial Space For Lease

      10,400 SF industrial space on 22.85 acres available.
      15620 W Michigan Ave, Albion, MI 49224
      View Details
    • $7 SF/Yr
      10,400 SF

      Versatile Industrial Property in Albion

      Industrial property with flexible leasing options on 22 acres.
      15620 W Michigan Ave, Albion, MI 49224
      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.
    1355 Eaton St
    Albion, MI 49224-1040
    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

    Google sign-in failed. Please try again or use another login method.