Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2250 E Greenwood Rd Prescott, MI 48739
    Back to Search
    Property profile & analytics

    2250 E Greenwood Rd Prescott, MI 48739

    View on Map
    • Commercial real estate
    • 2,752 SF
    • 0.34 lot acres
    For Sale
    $52,000
    View Listing →
    Former Bar and Restaurant Building For Sale
    $52,000
    2,752 SF

    Former Bar and Restaurant Building

    2752 sq ft commercial building with ample parking.

    2250 E Greenwood, Prescott, MI 48739
    View Listing
    Property ID
    US43-4108556
    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 2250 E Greenwood Rd

    Lot size
    0.34 lot acres
    Property size
    2,752 SF
    Property type
    Commercial real estate
    APN
    010-026-103-00
    APU
    1002610300

    Description

    This exceptional 2,752 square foot industrial property, located at 2250 E Greenwood in Prescott, Michigan, presents a unique investment opportunity. Priced at $75,000, the building boasts ample parking, a significant advantage for businesses requiring convenient vehicle access. Its strategic location directly across from Skidway Lake offers appealing aesthetics and potential for branding opportunities. The building's history as a bar and restaurant suggests a versatile layout adaptable to a variety of commercial uses. The substantial square footage provides ample space for operations, storage, or a combination thereof. The 0.34-acre lot provides additional space for expansion or outdoor activities. The property's existing infrastructure offers a cost-effective entry point for businesses seeking a ready-to-occupy space, eliminating the need for extensive renovations or construction. This property is ideal for entrepreneurs seeking a well-located, spacious building with significant parking at an attractive price point. The combination of size, location, and price makes this an exceptional opportunity in the Prescott, Michigan market. Serious inquiries are encouraged to explore the potential of this versatile industrial 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
    Prescott
    County
    Ogemaw
    State
    Michigan
    Longitude
    -84.0348
    Latitude
    44.1832

    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
    2023
    $970
    $0.00
    $0.00
    $26,800
    -
    $0.00
    $0.00
    $26,800

    Comparable in this City

    • Value Estimation by Request
      0.01 Acres

      Prescott, MI 48756

      COMMERCIAL (GENERAL) • 0.01 Acres
      Prescott, MI 48756
      View Details
    • Value Estimation by Request
      3,164 SF

      2869 Boughner Lk Rd

      COMMERCIAL (GENERAL) • 3,164 SF
      2869 Boughner Lk Rd, Prescott, MI 48756-9260
      View Details
    • Value Estimation by Request
      1,564 SF

      2634 Greenwood Rd

      COMMERCIAL (GENERAL) • 1,564 SF
      2634 Greenwood Rd, Prescott, MI 48756-9698
      View Details
    • Value Estimation by Request
      1,920 SF

      2686 Greenwood Rd

      COMMERCIAL (GENERAL) • 1,920 SF
      2686 Greenwood Rd, Prescott, MI 48756-9698
      View Details
    • Value Estimation by Request
      2,436 SF

      1992 Greenwood Rd

      COMMERCIAL (GENERAL) • 2,436 SF
      1992 Greenwood Rd, Prescott, MI 48756-9517
      View Details
    • Value Estimation by Request
      2,415 SF

      5197 Park St

      COMMERCIAL (GENERAL) • 2,415 SF
      5197 Park St, Prescott, MI 48756-9572
      View Details

    Similar Nearby for Sale

    • $40,000
      10.00 Acres

      Prescott, MI Vacant Land

      10 acres of land suitable for building or hunting.
      5229 Sage Lake Rd, Prescott, MI 48756
      View Details
    • $45,000
      1.33 Acres

      Buildable Lots with Utilities

      1.33 acres with wells, septic, and electricity available.
      5235 Greenwood Rd, Alger, MI 48756
      View Details
    • $150,000
      6,700 SF

      Versatile Retail Space Near Skidway

      Spacious retail space with restaurant section and shipping zone.
      2370 Greenwood Rd, Prescott, MI 48756
      View Details
    • Contact for pricing
      0.20 Acres

      Wooded Lot in Prescott, MI

      Potential building site with electric available in Prescott, MI.
      N/A Georgia Edna Ln, Prescott, MI 48756
      View Details
    • Contact for pricing
      0.49 Acres

      Buildable Parcels in Prescott, Michigan

      Five buildable parcels available individually or as a package.
      220 E Harrison St, Prescott, MI 48756
      View Details
    • $99,000
      29,002 SF

      Former School Conversion Opportunity

      Former middle school with conversion potential on 15+ acres.
      329 N Washington St, Prescott, MI 48756
      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.
    2250 E Greenwood Rd
    Prescott, MI 48739
    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
    2250 E Greenwood Rd, Prescott, MI, 48739
    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!