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    1604 Sheridan Rd Escanaba, MI 49829
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    Property profile & analytics

    1604 Sheridan Rd Escanaba, MI 49829

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    • Industrial properties
    • 724 SF
    • 0.39 lot acres
    Off-Market
    Property ID
    US43-2729477
    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

    • Industrial properties

    Property Details for 1604 Sheridan Rd

    Year built
    1947
    Lot size
    0.39 lot acres
    Property size
    724 SF
    Property type
    Industrial properties

    Description

    This exceptional 0.39-acre industrial property in Escanaba, Michigan, presents a unique investment or development opportunity. Located at 1604 Sheridan, the property boasts high visibility, making it ideal for a variety of uses. The 724-square-foot home offers immediate income potential or comfortable living space. The property comprises three adjoining lots, providing ample space for expansion, development, or additional structures. Its strategic location offers significant potential for growth and return on investment. Whether you envision establishing a new business, adding to a rental portfolio, or undertaking a development project, this property's versatility and prime location make it a compelling prospect. The existing home adds immediate value and potential rental income. The three lots provide flexibility for future expansion or development, catering to a wide range of business or residential plans. This is a rare opportunity to acquire a property with significant potential in a desirable location. Serious inquiries are encouraged to explore the possibilities this property offers. Don't miss out on this chance to transform your vision into reality.

    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
    Escanaba
    County
    Delta
    State
    Michigan
    Longitude
    -87.06863
    Latitude
    45.76635

    Comparable in this City

    • $800,000
      12,974 SF

      Escanaba Industrial Space - Huge Potential

      Large industrial property with ample storage & office space.
      2601 Danforth Rd, Escanaba, MI 49829
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    • $375,000
      2,600 SF

      Escanaba Industrial Space For Sale

      Prime Escanaba office space, high traffic location.
      2209 Ludington St, Escanaba, MI 49829
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    • $750,000
      25,528 SF

      Iconic Escanaba Industrial Building

      Historic Post Office, 25,528 sq ft, High Potential
      524 Ludington St, Escanaba, MI 49829
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    • $2,500,000
      8,918 SF

      Escanaba Industrial Property - Prime Location

      High-Visibility Industrial Building, 8,918 sq ft, 4.63 acres
      200 30Th St, Escanaba, MI 49829
      View Details
    • $275,000
      4,557 SF

      retail stores

      restaurants
      1401 Lincoln Rd, Escanaba, MI 49829
      View Details
    • $1,980,000
      8,918 SF

      Versatile Commercial Building in Escanaba

      8918 sq ft building on 4.63 acres in Escanaba.
      200 N 30Th St, Escanaba, MI 49829
      View Details

    Similar Nearby for Sale

    • $800,000
      12,974 SF

      Escanaba Industrial Space - Huge Potential

      Large industrial property with ample storage & office space.
      2601 Danforth Rd, Escanaba, MI 49829
      View Details
    • $375,000
      2,600 SF

      Escanaba Industrial Space For Sale

      Prime Escanaba office space, high traffic location.
      2209 Ludington St, Escanaba, MI 49829
      View Details
    • $750,000
      25,528 SF

      Iconic Escanaba Industrial Building

      Historic Post Office, 25,528 sq ft, High Potential
      524 Ludington St, Escanaba, MI 49829
      View Details
    • $2,500,000
      8,918 SF

      Escanaba Industrial Property - Prime Location

      High-Visibility Industrial Building, 8,918 sq ft, 4.63 acres
      200 30Th St, Escanaba, MI 49829
      View Details
    • $275,000
      4,557 SF

      retail stores

      restaurants
      1401 Lincoln Rd, Escanaba, MI 49829
      View Details
    • $1,980,000
      8,918 SF

      Versatile Commercial Building in Escanaba

      8918 sq ft building on 4.63 acres in Escanaba.
      200 N 30Th St, Escanaba, MI 49829
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,631 SF

      Escanaba Retail Space Available

      Retail property available for lease in Escanaba, Michigan.
      301 N Lincoln Rd, Escanaba, MI 49829
      View Details
    • Contact for pricing
      3,500 SF

      Freestanding Medical Building Sublease Available

      Freestanding medical building for sublease in high-traffic Escanaba location.
      309 N Lincoln Rd, Escanaba, MI 49829
      View Details
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    Escanaba, MI 49829
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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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