Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5245 Pickard St Mount Pleasant, MI 48858-5007

    • Commercial real estate
    • 1.57 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2358066
    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

    • IHOP / Breakfast Restaurant / American Restaurant
    • Pardon My Cheesesteak / Cheesesteak Restaurant

    Property Details for 5245 Pickard St

    Lot size
    1.57 lot acres
    Property type
    Commercial real estate
    APN
    14-012-30-014-00
    APU
    140123001400

    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
    Mount Pleasant
    County
    Isabella
    State
    Michigan
    Longitude
    -84.7432
    Latitude
    43.6123
    CBSA code
    34380
    CBSA name
    MOUNT PLEASANT, 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
    0
    $0.00
    $0.00
    $0.00
    $621,200
    -
    $0.00
    $0.00
    $1,242,400

    Comparable in this City

    • Value Estimation by Request
      2.20 Acres

      2467 Remus Rd

      COMMERCIAL (GENERAL) • 2.20 Acres
      2467 Remus Rd, Mount Pleasant, MI 48858-3075
      View Details
    • Value Estimation by Request
      0.75 Acres

      2480 Rosewood N

      COMMERCIAL (GENERAL) • 0.75 Acres
      2480 Rosewood N, Mount Pleasant, MI 48858-5003
      View Details
    • Value Estimation by Request
      11.43 Acres

      5580 Venture Way

      COMMERCIAL (GENERAL) • 11.43 Acres
      5580 Venture Way, Mount Pleasant, MI 48858-1149
      View Details
    • Value Estimation by Request

      2007 Winn Rd, Unit 1

      COMMERCIAL (GENERAL)
      2007 Winn Rd, Mount Pleasant, MI 48858-9730
      View Details
    • Value Estimation by Request
      13.00 Acres

      2142 Wise Rd

      COMMERCIAL (GENERAL) • 13.00 Acres
      2142 Wise Rd, Mount Pleasant, MI 48858-8763
      View Details
    • Value Estimation by Request
      10.60 Acres

      4775 Cmns Dr

      COMMERCIAL (GENERAL) • 10.60 Acres
      4775 Cmns Dr, Mount Pleasant, MI 48858-4411
      View Details

    Similar Nearby for Sale

    • $389,000
      6,120 SF

      High Street Mixed-Use Opportunity

      6,120 SF Commercial Building, Mt. Pleasant
      1506 High St, Mount Pleasant, MI 48858
      View Details
    • $995,000
      2.71 Acres

      Mt. Pleasant Commercial Land - 2.71 Acres

      Prime Development Land, Isabella County, MI
      5143 Pickard Rd, Mount Pleasant, MI 48858
      View Details
    • $224,900
      1.36 Acres

      Collegiate Way Commercial Land

      1.36 Acres, Prime Commercial Location
      0 Collegiate Way, Union charter Township, MI 48858
      View Details
    • $1,350,000
      4.78 Acres

      Mt. Pleasant Commercial Land - 4.78 Acres

      Prime development land, M-20 frontage.
      5165 Pickard St, Mount Pleasant, MI 48858
      View Details
    • $550,000
      2.07 Acres

      Mount Pleasant Commercial Land

      2.07 Acres, Prime Development Site
      5165 Pickard St, Mount Pleasant, MI 48858
      View Details
    • $1,350,000
      4.78 Acres

      Mt. Pleasant Commercial Land Development

      4.78 acres, prime M-20 location. High visibility.
      5157 Pickard St, Mount Pleasant, MI 48858
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      238,693 SF

      Central Michigan Commons Retail Space

      Prime Retail Space near CMU
      2121-2231 Mission St, Mount Pleasant, MI 48858
      View Details
    • Contact for pricing
      8,368 SF

      Mt. Pleasant Retail Space For Lease

      Prime Retail Building, High Visibility
      317 Mission St, Mount Pleasant, MI 48858
      View Details
    • $6,000 /Mo
      12,772 SF

      Mt Pleasant Warehouse/Manufacturing Space

      Large, heated storage space with fire suppression and loading docks.
      711 W Pickard St, Mt Pleasant, MI 48858
      View Details
    • $13 SF/Yr
      17,425 SF

      Upscale Office Space For Lease

      Newer office building in Mt. Pleasant, minutes from downtown.
      3046 E Jens Way, Mt Pleasant, MI 48858
      View Details
    • $15 SF/Yr
      1,080 SF

      Retail Space Near Central Michigan

      Retail space for lease near Central Michigan University.
      1620 S Mission St, Mt Pleasant, MI 48858
      View Details
    • New
      $500 /Mo
      1,600 SF

      Mt Pleasant Warehouse/Manufacturing Space

      Warehouse/manufacturing space for lease in Mt Pleasant, Michigan.
      4049 S Northwind Dr, Mt Pleasant, MI 48858
      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.
    5245 Pickard St
    Mount Pleasant, MI 48858-5007
    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

    Google sign-in failed. Please try again or use another login method.