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    Property profile & analytics

    359 Maple St Muir, MI 48860

    • Commercial real estate
    • 2,280 SF
    • 0.26 lot acres
    OFF-MARKET
    Value Estimations
    $255,000
    Show details
    Cap Rate Potential
    9.1%
    Commercial real estate
    Location Intelligence
    Property ID
    US43-2071525
    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

    • Probasco Pizza / Pizza Restaurant

    Property Details for 359 Maple St

    Year built
    1985
    Lot size
    0.26 lot acres
    Property size
    2,280 SF
    Property type
    Commercial real estate
    APN
    34-082-018-000-020-00
    APU
    3408201800002000

    Description

    This thriving pizza business in Muir, MI, presents a unique investment opportunity. Located on busy M-21, with approximately 9,000 vehicles passing daily, this highly visible 2,280 square foot building boasts a strong reputation built over three years of successful operation. The current owner is offering training to ensure a smooth transition for the new owner. The business is situated on a 0.27-acre lot and is zoned for both business and residential use, providing flexibility for future endeavors. Imagine converting this established business into a residence or exploring other commercial ventures. The building itself is in excellent condition, with all mechanicals and the roof having been updated within the last three years, minimizing immediate maintenance concerns. This turnkey operation offers a proven business model and a prime location, making it an ideal acquisition for an entrepreneur seeking a profitable venture with significant upside potential. The asking price is $129,900. Note that no land contracts are being offered. This is a rare chance to own a successful, established business in a desirable location. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $250,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $385,000
      6.5%
      $355,000
      7%
      $330,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $193,000
      Market price range: $84.6k - $343k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Muir
    County
    Ionia
    State
    Michigan
    Longitude
    -84.9453
    Latitude
    43.0011
    CBSA code
    24340
    CBSA name
    GRAND RAPIDS-WYOMING, 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
    $1,039
    $3,000
    $17,200
    $20,200
    -
    $6,000
    $34,400
    $40,400

    Comparable in this City

    • Value Estimation by Request
      0.35 Acres

      Hayes Rd

      COMMERCIAL (GENERAL) • 0.35 Acres
      Hayes Rd, Muir, MI 48860
      View Details
    • Value Estimation
      $255,000
      1,800 SF

      335 Maple St

      COMMERCIAL (GENERAL) • 1,800 SF
      335 Maple St, Muir, MI 48860-9777
      View Details
    • Value Estimation by Request

      7571 Stone Rd

      COMMERCIAL (GENERAL)
      7571 Stone Rd, Muir, MI 48860
      View Details
    • Value Estimation
      $365,000
      14,400 SF

      7061 Blue Water Hwy

      COMMERCIAL (GENERAL) • 14,400 SF
      7061 Blue Water Hwy, Muir, MI 48860
      View Details
    • Value Estimation
      $395,000
      14,784 SF

      557 Prospect

      COMMERCIAL (GENERAL) • 14,784 SF
      557 Prospect, Muir, MI 48860-9629
      View Details
    • Value Estimation
      $250,000
      0.18 Acres

      204 Superior St

      COMMERCIAL (GENERAL) • 0.18 Acres
      204 Superior St, Muir, MI 48860
      View Details

    Similar Nearby for Sale

    • New
      $77,000
      7.10 Acres

      Land in Muir, Michigan

      7.10-acre lot with rolling hills and mature pines.
      11670 Jessup Rd, Muir, MI 48860
      View Details
    • New
      $54,999
      1.67 Acres

      Vacant Lot Near Muir, MI

      1.6-acre vacant lot with well and septic near M-21.
      2874 Struble Rd, Muir, MI 48860
      View Details
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    359 Maple St
    Muir, MI 48860
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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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