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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2479 2nd Mile Rd Bay City, MI 48706-1173

    • Warehouses
    • 1,140 SF
    • 0.49 lot acres
    OFF-MARKET
    Last Sale
    Jul 24, 2023
    $50,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1178541
    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

    • Warehouses

    Property Details for 2479 2nd Mile Rd

    Year built
    1990
    Lot size
    0.49 lot acres
    Property size
    1,140 SF
    Zone code
    I-1
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    010-030-300-030-03
    APU
    1003030003003

    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
    Bay City
    County
    Bay
    State
    Michigan
    Longitude
    -83.9303
    Latitude
    43.6683
    CBSA code
    13020
    CBSA name
    BAY CITY, 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
    2023
    $689
    $0.00
    $0.00
    $25,100
    -
    $0.00
    $0.00
    $50,200

    Comparable in this City

    • Value Estimation by Request
      24,480 SF

      3596 Euclid Ave

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      3596 Euclid Ave, Bay City, MI 48706-2026
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    • Value Estimation by Request
      374 SF

      3665 Huron Rd

      MINI-WAREHOUSE, STORAGE • 374 SF
      3665 Huron Rd, Bay City, MI 48706-2043
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    • Value Estimation by Request
      1,500 SF

      348 State Park Dr

      MINI-WAREHOUSE, STORAGE • 1,500 SF
      348 State Park Dr, Bay City, MI 48706-1343
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    • Value Estimation by Request
      4,743 SF

      2315 Delta Rd

      MINI-WAREHOUSE, STORAGE • 4,743 SF
      2315 Delta Rd, Bay City, MI 48706-9340
      View Details
    • Value Estimation
      $525,000
      38,860 SF

      3971 Bangor Rd

      MINI-WAREHOUSE, STORAGE • 38,860 SF
      3971 Bangor Rd, Bay City, MI 48706-2216
      View Details
    • Value Estimation by Request
      18,530 SF

      901 Salzburg Ave

      MINI-WAREHOUSE, STORAGE • 18,530 SF
      901 Salzburg Ave, Bay City, MI 48706-4391
      View Details

    Similar Nearby for Sale

    • New
      $300,000
      Pending

      Bay City Industrial Warehouse Building

      Light industrial warehouse on two parcels totaling 1.01 acres.
      7338 W Saginaw St, Bay City, MI 48706
      View Details
    • $175,000
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      Commercial Property on Wilder Road

      High-exposure commercial property near I-75 ready for retail or office.
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      Heated Warehouse with Multiple Rooms

      Heated warehouse with office space, multiple bays, and freezers.
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      Industrial Warehouse in Ace Park

      Condominium warehouse near Saginaw Bay with office and overhead door.
      4402 Ace Commercial Ct, Bay City, MI 48706
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    • $975,000
      42,000 SF

      Bay City Industrial Warehouse

      42,000 SF Warehouse, 3 Acres, $975K
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    • $575,000
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      Industrial Buildings with Yard Space

      Two industrial buildings on 2.5 acres suitable for warehousing.
      2429 2 Mile Rd, Bay City, MI 48706
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    Similar Nearby for Lease

    • $6 SF/Yr
      22,000 SF

      Available Shared Storage Space

      Shared storage space available with easy accessibility and security.
      5910 2 Mile Rd, Bay City, MI 48706
      View Details
    • $8 SF/Yr
      4,320 SF

      New Flex Space Available

      4,320 SF flex space near I-75 and US-13/23.
      3921 Traxler Ct, Bay City, MI 48706
      View Details
    • $2,950 /Mo
      3,300 SF

      Versatile Flex Space Available

      3,300 SF flex space suitable for various business uses.
      3730 Wilder Rd, Bay City, MI 48706
      View Details
    • $12,480 /Mo
      900 SF

      Bay City Office Space - 900 SF

      Versatile Bay City office space available for lease.
      6004 Westside Saginaw Rd, Bay City, MI 48706
      View Details
    • $12 SF/Yr

      Bay Professional Building

      Single or Multi-Room Suites Available in Bay City
      200 Wenona St, Bay City, MI 48706
      View Details
    • $14 SF/Yr
      2,200 SF

      Wilder Road Plaza Retail Space

      Prime Bay County retail space, multiple suites available.
      4100 Wilder Rd, Bay City, MI 48706
      View Details
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    2479 2nd Mile Rd
    Bay City, MI 48706-1173
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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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