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

    3079 Commercial Dr Midland, MI 48642-7840

    • Retail space
    • 6,000 SF
    • 2.26 lot acres
    OFF-MARKET
    Last Sale
    Jun 09, 2020
    $235,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2023781
    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

    • Valley Electrical Contractors / Electrical Service / General Contractor

    Property Details for 3079 Commercial Dr

    Year built
    1988
    Lot size
    2.26 lot acres
    Property size
    6,000 SF
    Zone code
    RESIDENTIAL
    Property type
    Retail space
    APN
    090-028-200-350-00
    APU
    9002820035000

    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
    Midland
    County
    Midland
    State
    Michigan
    Longitude
    -84.2442
    Latitude
    43.6794
    CBSA code
    33220
    CBSA name
    MIDLAND, MI MICROPOLITAN 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
    2022
    $5,159
    $0.00
    $0.00
    $128,500
    -
    $0.00
    $0.00
    $257,000

    Comparable in this City

    • Value Estimation by Request
      5,220 SF

      600 Cambridge St

      RETAIL STORES (PERSONAL SERVICES) • 5,220 SF
      600 Cambridge St, Midland, MI 48642-4508
      View Details
    • Value Estimation
      $1,455,000
      17,495 SF

      1511 Joe Mann Blvd

      STORE, RETAIL OUTLET • 17,495 SF
      1511 Joe Mann Blvd, Midland, MI 48642-8902
      View Details
    • Value Estimation
      $845,000
      8,320 SF

      1409 Joe Mann Blvd

      RETAIL STORES (PERSONAL SERVICES) • 8,320 SF
      1409 Joe Mann Blvd, Midland, MI 48642-8905
      View Details
    • Value Estimation
      $660,000
      6,515 SF

      6711 Eastman Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,515 SF
      6711 Eastman Ave, Midland, MI 48642-7700
      View Details
    • Value Estimation
      $675,000
      12,000 SF

      1983 Airport Rd

      RETAIL STORES (PERSONAL SERVICES) • 12,000 SF
      1983 Airport Rd, Midland, MI 48642-7767
      View Details
    • Value Estimation
      $560,000
      10,303 SF

      1610 Commerce Ct

      RETAIL STORES (PERSONAL SERVICES) • 10,303 SF
      1610 Commerce Ct, Midland, MI 48642-7958
      View Details

    Similar Nearby for Sale

    • $289,000
      3 SF

      Commercial Land on Eastman Road

      Commercial zoned property with potential for retail, medical, multi-family.
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    • $355,000
      2.20 Acres

      Commercial Land with ATM Lease

      2.2 acres with existing ATM lease in Midland, MI.
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      Prime Commercial Land Available

      24.76 acres of commercial land for sale.
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      Development Parcel on Joe Mann

      6.69 acre development parcel with high visibility.
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    • $125,000
      0.84 Acres

      Residential Land in Midland, MI

      Vacant residential land in an area of beautiful homes.
      5816 Woodduck Way, Midland, MI 48642
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    • $2,975,000
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      Midland Industrial Building For Sale

      54,171 SF Manufacturing/Warehouse
      2820 Schuette Rd, Midland, MI 48642
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    Similar Nearby for Lease

    • Contact for pricing
      1,222 SF

      Midland Office/Showroom Space Available

      Office/showroom space for lease near Dow and XALT Energy.
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      1,400 SF

      Second Floor Office Suite

      Office suite featuring open area, offices, and kitchen breakroom.
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      14,000 SF

      Midland Office Space For Lease

      Office space for lease in Midland, near US-10.
      1320 Waldo Ave, Midland, MI 48642
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    • Contact for pricing

      Industrial Warehouse Space For Lease

      Industrial warehouse space in Midland near major companies.
      1700 James Savage Rd, Midland, MI 48642
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      Office Suites For Lease

      Office suites available for lease with highway access.
      801 Joe Mann Blvd, Midland, MI 48642
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    • Contact for pricing

      Midland Flex/Industrial Space Available

      Flex/industrial spaces available for lease in Midland, Michigan.
      1700 James Savage Rd, Midland, MI 48642
      View Details
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    Midland, MI 48642-7840
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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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