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    380 Main St Freeland, MI 48623
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    Property profile & analytics

    380 Main St Freeland, MI 48623

    View on Map
    • Office Units
    • 1,692 SF
    • 0.58 lot acres
    Off-Market
    Property ID
    US43-0340223
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • James Court CPA PC / Accounting Firm / Tax Preparation

    Property Details for 380 Main St

    Year built
    1939
    Lot size
    0.58 lot acres
    Property size
    1,692 SF
    Property type
    Office Units
    APN
    29-13-3-21-2014-000

    Description

    This exceptional mixed-use property, located at 380 S Main Street in Freeland, Michigan, presents a unique investment opportunity. The 1,692 square foot building, constructed in 1939, is situated on a 0.58-acre lot boasting Tittabawassee River frontage. Currently vacant, this Class C building offers significant potential for owner-users seeking a creative office space. The property features two stories, three bedrooms, and two full bathrooms, along with a full kitchen. A detached 1.5-car garage provides ample parking. Recent updates include a newer furnace and air conditioning system, and refreshed landscaping enhances the curb appeal. The property's prime location on Main Street, between Austin's Flowers and Gifts and the Applewood Plaza, ensures high visibility. Zoned Residential, C1, C2, and C3, this versatile property offers a range of possibilities. The asking price is $265,000, translating to $156.62 per square foot. The property's original charm and quality craftsmanship, combined with its riverfront location and convenient amenities, make it an attractive investment. The parcel number is 29-13-3-21-2014-000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Freeland
    County
    Saginaw
    State
    Michigan
    Longitude
    -84.1219293
    Latitude
    43.5215206

    Comparable in this City

    • $396,000
      5,088 SF

      Freeland Adaptable Building For Sale

      Well-maintained 5,000+ sq ft building suitable for various uses.
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      Freeland Development Land For Sale

      Two parcels totaling 0.984 acres with frontage on Midland Road.
      335 S Main St, Freeland, MI 48623
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      Freeland Land Parcel For Sale

      Prime development opportunity in downtown Freeland with frontage.
      285 S Main St, Freeland, MI 48623
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    • $109,900
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      Residential Land in Gated Community

      Vacant land in Freeland, MI, ready for your dream home.
      34 Grove Ct W, Freeland, MI 48623
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    • $77,000
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      Freeland Commercial Property Available

      Commercial property in Freeland, Michigan, suitable for various uses.
      8130 Midland Rd, Freeland, MI 48623
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    • $89,900
      0.45 Acres

      Residential Lot in Golf Community

      Vacant land to build your dream home near golf course.
      17 Grove Ct E, Freeland, MI 48623
      View Details

    Similar Nearby for Sale

    • $396,000
      5,088 SF

      Freeland Adaptable Building For Sale

      Well-maintained 5,000+ sq ft building suitable for various uses.
      3949 River Rd N, Freeland, MI 48623
      View Details
    • Contact for pricing

      Freeland Development Land For Sale

      Two parcels totaling 0.984 acres with frontage on Midland Road.
      335 S Main St, Freeland, MI 48623
      View Details
    • Contact for pricing

      Freeland Land Parcel For Sale

      Prime development opportunity in downtown Freeland with frontage.
      285 S Main St, Freeland, MI 48623
      View Details
    • $109,900
      0.55 Acres

      Residential Land in Gated Community

      Vacant land in Freeland, MI, ready for your dream home.
      34 Grove Ct W, Freeland, MI 48623
      View Details
    • $77,000
      Pending

      Freeland Commercial Property Available

      Commercial property in Freeland, Michigan, suitable for various uses.
      8130 Midland Rd, Freeland, MI 48623
      View Details
    • $89,900
      0.45 Acres

      Residential Lot in Golf Community

      Vacant land to build your dream home near golf course.
      17 Grove Ct E, Freeland, MI 48623
      View Details
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    Freeland, MI 48623
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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.

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