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Property profile & analytics
FOR SALE
Retail space
265 Howard St, Lapeer, MI 48446
Entity Owned
4-yr Hold
Free & Clear
Property ID
US43-4326221
For Sale
1 / 26
$385,000
265 Howard St, Lapeer, MI 48446
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Property summary
AI-generated overview
This exceptional industrial opportunity in Lapeer, MI, presents two buildings totaling 11,160 square feet situated on a generous 1.56-acre lot. Building #1 boasts 7,000 square feet, while Building #2 offers 4,160 square feet of space. Currently equipped with 800 amps of power, the property is eligible for an upgrade to 1,200 amps/3-phase power, providing significant flexibility for various industrial uses. An appraisal completed in December 2021 valued the property at $1,100,000, highlighting its substantial worth. The buildings are in good condition, and the property's location within a designated "green zone" suggests favorable environmental considerations. This property presents a compelling investment opportunity, ideal for owner-occupancy or as a lucrative rental investment. The expansive lot offers significant potential for future development, allowing for expansion or the addition of further structures. This versatile property is ready for immediate use or strategic development, making it a rare find in the Lapeer industrial market. The asking price is $410,000.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1900
Total area
12,024 SF
Lot
0.66 ac (28,967 SF)
Zoning code
I1 INDU
APN
L21-27-500-040-00
UPID
US43-4326221
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.28M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.41M
Owner & transaction history
Z&l Lapeer Holdings LLC · 4 yrs held
Z&l Lapeer Holdings LLC
since 2022
Last sale
$1.4M
5 recorded transactions
Zoning & alternative use
I1 INDU · Lapeer, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.2M
+31.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lapeer submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lapeer submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,550,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,380,000
6.5%
$1,275,000
7%
$1,185,000
Alternative Use
Use
Estimation
RETAIL STORES
$930,000
Current use
OFFICE BUILDING
$1,225,000
Change: +31% · Conversion: Easy
Blend value · Realmo final
$1.41M
Range $1.26M – $1.55M · ±10% · vs last sale $1.40M (Apr 4 2022)
Last sale anchor
$1.40M
Apr 4 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$117 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$6,313
Tax year 2023
Assessed value
$155,500
Assessed 2024
Previous assessed
$140,300
+10.8% YoY
Effective rate
4.06%
On assessed value
Total market value
$311,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1900
Heating
FORCED AIR
Buildings
3
Stories
1
Total area
12,024 SF
Lot
0.66 ac (28,967 SF)
Zoning code
I1 INDU
APN
L21-27-500-040-00
UPID
US43-4326221
Jurisdiction
LAPEER
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
I1 INDU · Lapeer, MI
Zoning I1 INDU · permitted uses
I1 INDU · Lapeer, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lapeer. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$930,000
OFFICE BUILDING
Est. value
$1.2M
RETAIL STORES Current
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Heating
FORCED AIR
Stories
1
Buildings
3
Lot
0.66 ac
Current owner
From public records · entity-resolved
Z&l Lapeer Holdings LLC
Entity
Free & Clear · 4 yrs held
Mailing address
265 HOWARD ST, LAPEER, MI 48446-2517
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 4, 2022
—
Z&l Lapeer Holdings LLC
Metro Of Livernois INC
Quit Claim Deed
related
—
Oct 5, 2021
$1,400,000
Metro Of Livernois INC
Xtreme Results Fitness & Gym LLC
Warranty Deed
$2,634,000 · Newtek Small Business Finance LLC
Nov 13, 2018
—
Extreme Resultse Fitness & Gym
Kalakay LLC
Warranty Deed
$330,000 · F5 Capital Group LLC
Nov 7, 2011
$150,000
Kalakay LLC
Lloyd,douglas R & Melissa J
Warranty Deed
—
Jun 7, 2007
$328,000
Douglas R Lloyd
Lapeer Grain
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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