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    159 State St Montrose, MI 48457
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    Property profile & analytics

    159 State St Montrose, MI 48457

    View on Map
    • Industrial properties
    • 2,500 SF
    • 0.35 lot acres
    Off-Market
    Property ID
    US43-0872728
    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

    • Voorheis Signs / (Bike/Boat/Book/etc) Store / Printing Service

    Property Details for 159 State St

    Year built
    1919
    Lot size
    0.35 lot acres
    Property size
    2,500 SF
    Property type
    Industrial properties

    Description

    This exceptional Montrose, MI property offers a unique live/work opportunity. The 2,500 square foot industrial building sits on a 0.35-acre lot, providing ample space for both business operations and comfortable living. The property includes a three-bedroom, two-bathroom home, conveniently featuring a main floor bedroom and bathroom. A significant advantage is the expansive over six-car garage, partially heated and equipped with a half-bath. The garage boasts a 16-foot overhead door, large enough to accommodate a bus. Adding to the functionality is a heated office space with its own dedicated bathroom. The seamless integration of residential and commercial space allows for a convenient live-work lifestyle, eliminating commuting time. The property is located within the Montrose school district. This is a rare opportunity to own a versatile property that combines residential comfort with significant industrial potential. Priced at $189,000, this property represents an excellent investment. The property's size and features make it ideal for a variety of businesses and lifestyles. Don't miss this chance to own a unique and valuable property in a desirable location.

    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
    Montrose
    County
    Genesee
    State
    Michigan
    Longitude
    -83.89078
    Latitude
    43.17675

    Comparable in this City

    • $550,000
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      Retail Building in Montrose, MI

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      Residential Lot in Montrose

      Residential lot with city water and sewer in Montrose.
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    • $68,000
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      Secluded Wooded Land in Montrose

      4.87 acres of wooded land, ideal for recreation.
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    • $35,900

      Land Near Downtown Montrose

      2.57 acre lot, minutes from Montrose, utilities available.
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      Montrose Vacant Land For Sale

      2.57 acre residential lot near downtown Montrose, Michigan.
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    • $259,900
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      Updated Mixed-Use Property in Montrose

      Updated 3-bedroom home with commercial zoning and ample parking.
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    Similar Nearby for Sale

    • $550,000
      10,478 SF

      Retail Building in Montrose, MI

      Former Family Dollar built in 2022, available for sale.
      10245 W Vienna Rd, Montrose, MI 48457
      View Details
    • Contact for pricing

      Residential Lot in Montrose

      Residential lot with city water and sewer in Montrose.
      52 Park Dr, Montrose, MI 48457
      View Details
    • $68,000
      4.87 Acres

      Secluded Wooded Land in Montrose

      4.87 acres of wooded land, ideal for recreation.
      East Rd, Montrose, MI 48457
      View Details
    • $35,900
      2.57 Acres

      Montrose Vacant Land For Sale

      2.57 acre residential lot near downtown Montrose, Michigan.
      13072 Marshall Rd, Montrose, MI 48457
      View Details
    • $35,900

      Land Near Downtown Montrose

      2.57 acre lot, minutes from Montrose, utilities available.
      13072 Marshall Rd, Montrose, MI 48457
      View Details
    • $259,900
      1,550 SF

      Updated Mixed-Use Property in Montrose

      Updated 3-bedroom home with commercial zoning and ample parking.
      9326 Vienna Rd, Montrose, MI 48457
      View Details
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    Montrose, MI 48457
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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.

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