Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    8523 State Rd Millington, MI 48746-9446
    Back to Search
    Property profile & analytics

    8523 State Rd Millington, MI 48746-9446

    View on Map
    • Commercial real estate
    • 0.33 lot acres
    Off-Market
    Last Sale Apr 23, 2025
    $3,600
    Property ID
    US43-2482941
    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

    • Commercial real estate

    Property Details for 8523 State Rd

    Lot size
    0.33 lot acres
    Property type
    Commercial real estate
    APN
    041-500-109-0510-00
    APU
    41500109051000

    Description

    This exceptional investment opportunity presents a 3,600 square foot building situated on a 0.28-acre lot in Millington, Michigan, directly on M-15. The property boasts a thriving storefront business, generating immediate income. Adding to its appeal are two spacious, two-bedroom apartments upstairs, consistently rented for over four years with reliable tenants. This provides a stable and predictable rental income stream. Beyond the existing business and apartments, the property includes two additional spaces, currently unused. These versatile areas offer significant potential for expansion. They could be leased for storage, generating additional rental income, or renovated to accommodate new businesses, further increasing the property's value and profitability. The building has been meticulously maintained, reflecting its excellent condition. This turnkey operation offers a rare blend of established income and significant upside potential, making it an ideal investment for discerning buyers seeking a strong return on investment in a desirable location. The property's prime location on M-15 ensures high visibility and accessibility, attracting both customers and tenants. This is a truly exceptional opportunity not to be missed.

    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
    Millington
    County
    Tuscola
    State
    Michigan
    Longitude
    -83.5292
    Latitude
    43.2807

    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
    2020
    $2,069
    $0.00
    $0.00
    $58,700
    -
    $0.00
    $0.00
    $117,400

    Comparable in this City

    • Value Estimation by Request
      1.34 Acres

      Birch Run

      COMMERCIAL (GENERAL) • 1.34 Acres
      Birch Run, Millington, MI 48746
      View Details
    • Value Estimation by Request
      19.00 Acres

      9113 Belsay Rd

      COMMERCIAL (GENERAL) • 19.00 Acres
      9113 Belsay Rd, Millington, MI 48746-9585
      View Details
    • Value Estimation by Request
      0.32 Acres

      4794 Industrial Dr

      COMMERCIAL (GENERAL) • 0.32 Acres
      4794 Industrial Dr, Millington, MI 48746-9342
      View Details
    • Value Estimation by Request
      0.90 Acres

      4740 Industrial Dr

      COMMERCIAL (GENERAL) • 0.90 Acres
      4740 Industrial Dr, Millington, MI 48746-9342
      View Details
    • Value Estimation by Request

      8188 State Rd

      COMMERCIAL (GENERAL)
      8188 State Rd, Millington, MI 48746-9404
      View Details
    • Value Estimation by Request
      0.15 Acres

      State

      COMMERCIAL (GENERAL) • 0.15 Acres
      State, Millington, MI 48746
      View Details

    Similar Nearby for Sale

    • $139,800

      Secluded Land in Big Buck Alley

      17+ acre wooded parcel perfect for recreation or building.
      0000 Birch Run Rd, Millington, MI 48746
      View Details
    • $199,500

      Millington Mixed-Use Opportunity

      Updated commercial building with income potential in downtown Millington.
      8516 State Rd, Millington, MI 48746
      View Details
    • $154,900
      Pending

      Heavily Wooded Millington Land Parcel

      25.25-acre wooded parcel with stream, ideal for hunting.
      3665 Arivaca Dr, Millington, MI 48746
      View Details
    • $139,800
      17.54 Acres

      Secluded 17+ Acre Hunting Land

      17+ acre wooded parcel in "Big Buck Alley."
      Birch Run Rd, Millington, MI 48746
      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.
    8523 State Rd
    Millington, MI 48746-9446
    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
    8523 State Rd, Millington, MI, 48746
    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!