Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    412 Beecher St Adrian, MI 49221-3806
    Back to Search
    Property profile & analytics

    412 Beecher St, Adrian, MI 49221-3806

    View on Map
    • Industrial properties
    • 157,750 SF
    • 7.29 lot acres
    Off-Market
    Last Sale Sep 23, 2025
    $4,100,000
    Property ID
    US43-1691404
    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
    $4,100,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial properties

    Property Details for 412 Beecher St

    Lot size
    7.29 lot acres
    Zone code
    I-1
    Property type
    Industrial properties
    APN
    XA0-320-0045-04
    APU
    XA0320004504

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 23, 2025 — Jeffery Gappy City Storage LLC Quitclaim Deed · related —
    Sep 23, 2025 $4,100,000 412 Beecher Street LLC Jeffrey Gappy Warranty Deed —
    Jan 7, 2025 — City Storage LLC — Deed · related $650k · Equity Trust Company
    Nov 12, 2024 $485,000 City Storage LLC Pac Holding II LLC Warranty Deed $394k · Equity Trust Com Custodian Fbo Muth

    Description

    This exceptional 157,750-square-foot industrial warehouse, located at 412 W. Beecher, Lenawee County, offers a significant opportunity. Recently renovated in 2023, this Class C building boasts 20-foot ceilings and features 107,000 square feet of vacant space available in May 2025, divisible to a minimum of 10,000 square feet and with a maximum contiguous space of 107,000 square feet. The property sits on a 7.29-acre lot and includes six loading docks, four drive-in doors (various sizes: 10x10, 17x16, 12x14, and 16x18), and ample parking for 75 vehicles. A large loading deck on the north side provides convenient access to the high-bay area. The property benefits from two on-site electric substations (12,500 KVA, upgradeable to 50 million megahertz), offering substantial power capacity. Potential for a rail spur exists, with local railroad companies actively seeking to accommodate such needs. The building also includes approximately 2,880 square feet of office space. The property is zoned I-1 and has an APN of XA0-320-0045-04. Annual property taxes are $0.50 per square foot. This is a single-story building constructed in 1970, offering a blend of established infrastructure and modern upgrades. Cross streets are M-52 (S. Main St).

    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
    Adrian
    County
    Lenawee
    State
    Michigan
    Longitude
    -84.041
    Latitude
    41.8901
    CBSA code
    10300
    CBSA name
    ADRIAN, 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
    2023
    $22,916
    $0.00
    $0.00
    $383,000
    -
    $0.00
    $0.00
    $766,000

    Comparable in this City

    • Value Estimation by Request
      3,624 SF

      4497 Adrian Dr

      Industrial properties
      4497 Adrian Dr, Adrian, MI 49221
      View Details
    • Value Estimation by Request
      0.34 Acres

      1000 Sword Hwyblk

      INDUSTRIAL (GENERAL)
      1000 Sword Hwyblk, Adrian, MI 49221-9708
      View Details
    • Value Estimation by Request
      1.92 Acres

      1725 Beecher Rd

      INDUSTRIAL (GENERAL)
      1725 Beecher Rd, Adrian, MI 49221-8773
      View Details
    • Value Estimation by Request
      512,408 SF

      1450 Beecher St

      INDUSTRIAL (GENERAL)
      1450 Beecher St, Adrian, MI 49221-3562
      View Details
    • Value Estimation by Request
      10,624 SF

      1445 Enterprise Ave

      INDUSTRIAL (GENERAL)
      1445 Enterprise Ave, Adrian, MI 49221-8789
      View Details
    • Value Estimation by Request
      5,970 SF

      2667 Treat St

      INDUSTRIAL (GENERAL)
      2667 Treat St, Adrian, MI 49221-4013
      View Details

    Similar Nearby for Sale

    • $129,900
      5,940 SF

      Adrian Industrial Building - $129,900

      Spacious industrial building, ideal for various uses. 0.61-acre lot.
      401 Tecumseh St, Adrian, MI 49221
      View Details
    • Contact for pricing
      5,509 SF

      Warehouse and Office Space Available

      Well-maintained warehouse and office space with flexible layout.
      825 Beecher St, Adrian, MI 49221
      View Details
    • New
      $319,000
      6,720 SF

      Commercial/Industrial Property in Adrian, MI

      Commercial/Industrial property with leased spaces and investment opportunity.
      725 W Beecher St, Adrian, MI 49221
      View Details
    • $100,000
      882 SF

      Adrian Office Building For Sale

      Commercial building in Adrian, Michigan, suitable for office or boutique.
      131 E Front St, Cadmus, MI 49221
      View Details
    • $125,000
      2.10 Acres

      Commercial Land Near Region Hospital

      2.10 acres of commercial land near new hospital.
      4587 N Adrian Hwy, Adrian, MI 49221
      View Details
    • $139,900
      1,780 SF

      Adrian Multi-Family Investment Opportunity

      Three-unit property in Adrian, MI, generating $2,250 monthly income.
      632 Division St, Adrian, MI 49221
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      16,000 SF

      Industrial Space with Truck Docks

      16,000 SF industrial space featuring multiple truck docks.
      532 S Center St, Adrian, MI 49221
      View Details
    • $13 SF/Yr

      1057 E. US HWY 223

      High Visibility Commercial Lease Opportunity
      1057 E Us Highway 223, Adrian, MI 49221
      View Details
    • $1,100 /Mo
      864 SF

      Remodeled Office Space in Adrian

      Modern office with historic feel in downtown Adrian.
      103 E Maumee St, Adrian, MI 49221
      View Details
    • Contact for pricing
      1,633 SF

      Retail Space on US-223

      Retail space available in Eastpointe Plaza, Adrian, Michigan.
      1675-1693 Us Highway 223, Adrian, MI 49221
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease.
      1416-1424 S Main St, Adrian, MI 49221
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    412 Beecher St
    Adrian, MI 49221-3806
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    412 Beecher St, Adrian, MI, 49221
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!