Property profile

231 Railway St Coleman, MI 48618

OFF-MARKET
Retail space
Property ID
US43-2096441
1,540 SF 0.04 ac lot
Entity Owned 8-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 600-square-foot creative office space is ideally located on the second floor of a historic building in downtown Coleman, Michigan. The property boasts a private side street entrance, offering convenient and discreet access. Inside, you'll find three generously sized offices, perfect for individual workspaces or collaborative teams, along with a convenient restroom. The space is situated in a single, two-story building, and while there is no elevator, the second-floor location offers a degree of privacy and quiet. All utilities are included in the lease, simplifying budgeting and management. Recent upgrades include a brand-new furnace and air conditioning system, ensuring year-round comfort and energy efficiency. This prime location offers easy access to both Mount Pleasant and Midland, approximately 20 minutes away, making it an attractive option for businesses seeking a blend of historical charm and modern convenience. The property is situated in Midland County, at 231 E Railway St, Coleman, MI 48618. This is a single-tenancy space, perfect for a small business or professional seeking a unique and well-maintained office environment.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Total area 1,540 SF
Lot 0.04 ac (1,742 SF)
Zoning code B-1
APN 170-006-200-110-00
UPID US43-2096441

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Bakery Specialty Food Shop
  • Cafe & Coffee Shop

Location

231 Railway St Coleman, MI 48618-9799
Coleman metro Census 291700 MIDLAND, MI MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$50k

Owner & transaction history

since 2018
1 recorded transaction
2018
Price N/A

Zoning & alternative use

B-1 · Coleman, MI
Zoning description

It is the intent and purpose of this district to provide neighborhood shopping areas to meet the day to day convenience shopping, service and professional needs of area residents

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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