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    Property profile & analytics

    4946 Page Ave Michigan Center, MI 49254

    • Medical offices
    • 6,056 SF
    • 2.63 lot acres
    For Sale
    View listing
    $274,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1262104
    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

    • Medical offices

    Property Details for 4946 Page Ave

    Year built
    1965
    Lot size
    2.63 lot acres
    Property size
    6,056 SF
    Property type
    Medical offices
    Property subtype
    Office space

    Description

    This exceptional 2.63-acre property in Michigan Center, MI (4946 Page Ave, zip 49254) presents a unique investment opportunity. The main building, constructed in 1965, offers 6,056 square feet of versatile space, previously housing a veterinary hospital. The layout includes a reception area, exam rooms, dental and surgery rooms, a post-recovery room, conference room, offices, and a separate 2220 sq ft kennel area. A 1344 sq ft, three-bedroom, one-bathroom apartment is located upstairs, ideal for owner occupancy or rental income. The property also features a pole barn with a concrete floor, two 8-foot doors, and a walk-in service door. Utilities (electric and water) are available at the pole barn. The property is currently vacant with an occupancy date of November 19, 2024. The permitted zoning is 201 - COMMERCIAL. This multi-building property (3 buildings total, 2 stories) offers endless possibilities for various uses, including medical facilities, urgent care, daycare, dental clinics, pet care, or any service-oriented business requiring multiple offices. Its prime location and substantial size make it an attractive investment for owner-users seeking a flexible and established space. The property's history as a successful veterinary hospital for 37 years speaks to its potential for continued success in a variety of commercial ventures.

    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
    Michigan Center
    County
    Jackson
    State
    Michigan
    Longitude
    -84.3167584
    Latitude
    42.2339496

    Comparable in this City

    • $115,000
      420 SF

      Established Barbershop or Versatile Commercial Space

      Well-maintained commercial property in high-traffic area, ideal for barbershop or retail.
      108 Grand St, Michigan Center, MI 49254
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    • $115,000
      420 SF

      Michigan Center Office For Sale

      Office property for sale in Michigan Center, MI with 420 SF.
      108 Grand St, Michigan Center, MI 49254
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    • $135,000
      1,547 SF

      Commercial Property in Desirable Location

      Commercial property in the heart of Michigan Center with customizable layout.
      4341 Page Ave, Michigan Center, MI 49254
      View Details
    • $699,000
      7,856 SF

      Versatile Industrial and Office Space

      Well-maintained Michigan Center property with mixed industrial and office space.
      4115 Felters Rd, Michigan Center, MI 49254
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    • $274,900
      6,056 SF

      Veterinary Hospital with Apartment, Barn

      2.63 acre property with hospital, apartment, and pole barn.
      4946 Page Ave, Michigan Center, MI 49254
      View Details
    • $135,000
      1,547 SF

      Michigan Center Office For Sale

      Office building in Michigan Center, MI, totaling 1,547 square feet.
      4341 Page Ave, Michigan Center, MI 49254
      View Details

    Similar Nearby for Sale

    • $115,000
      420 SF

      Established Barbershop or Versatile Commercial Space

      Well-maintained commercial property in high-traffic area, ideal for barbershop or retail.
      108 Grand St, Michigan Center, MI 49254
      View Details
    • $115,000
      420 SF

      Michigan Center Office For Sale

      Office property for sale in Michigan Center, MI with 420 SF.
      108 Grand St, Michigan Center, MI 49254
      View Details
    • $135,000
      1,547 SF

      Commercial Property in Desirable Location

      Commercial property in the heart of Michigan Center with customizable layout.
      4341 Page Ave, Michigan Center, MI 49254
      View Details
    • $699,000
      7,856 SF

      Versatile Industrial and Office Space

      Well-maintained Michigan Center property with mixed industrial and office space.
      4115 Felters Rd, Michigan Center, MI 49254
      View Details
    • $274,900
      6,056 SF

      Veterinary Hospital with Apartment, Barn

      2.63 acre property with hospital, apartment, and pole barn.
      4946 Page Ave, Michigan Center, MI 49254
      View Details
    • $135,000
      1,547 SF

      Michigan Center Office For Sale

      Office building in Michigan Center, MI, totaling 1,547 square feet.
      4341 Page Ave, Michigan Center, MI 49254
      View Details
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    Michigan Center, MI 49254
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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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