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    916 Washington Ave Bay City, MI 48708-5730
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    Property profile & analytics

    916 Washington Ave Bay City, MI 48708-5730

    View on Map
    • Office buildings
    • 75,000 SF
    • 0.57 lot acres
    Off-Market
    Property ID
    US43-1705200
    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
    $2,465,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Artistry Lounge Hair Studio / Hair Salon
    • Essentially Unique Apothecary & Wellness / (Bike/Boat/Book/etc) Store / Cosmetic Store
    • Boudoir by Alexa / (Bike/Boat/Book/etc) Store / Photography Service
    • Brows By Jordan / Medical Clinic / Skin Care Clinic
    • Essentially Unique / (Bike/Boat/Book/etc) Store / Cosmetic Store

    Property Details for 916 Washington Ave

    Year built
    1917
    Lot size
    0.57 lot acres
    Property size
    75,000 SF
    Zone code
    C-3 CTRL BUS
    Property type
    Office buildings
    APN
    160-021-337-001-00
    APU
    16002133700100

    Description

    The Davidson Building, Suite 225, offers a remarkable 1,734 square foot office space for lease. Located on the second floor of this historic building at 916 Washington Ave, Bay City, MI 48708, this traditional office suite is part of a larger 63,285 square foot building constructed in 1918. The building features three stories and two elevators for convenient access. This multiple-tenancy building provides a vibrant and professional atmosphere. The suite itself boasts a versatile layout, ideal for a variety of business needs. Its location in the heart of Downtown Bay City provides excellent visibility and accessibility. The building's classic architecture and prime location combine to offer a prestigious address and an inspiring work environment for businesses seeking a sophisticated and convenient space. This is a rare opportunity to secure a well-appointed office in a highly desirable location. The property is classified as both retail and office space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,465,000
      Market price range: $2.47M - $6.74M
      AI Estimate
      $2,465,000
      Market price range: $2.47M - $6.74M

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

    Location Insight

    • Map
    • Local Demand
    City
    Bay City
    County
    Bay
    State
    Michigan
    Longitude
    -83.8872
    Latitude
    43.5996
    CBSA code
    13020
    CBSA name
    BAY CITY, MI METROPOLITAN 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
    $108,906
    $0.00
    $0.00
    $1,069,150
    -
    $0.00
    $0.00
    $2,138,300

    Comparable in this City

    • Value Estimation by Request
      3,772 SF

      905 Ctr Ave

      OFFICE BUILDING • 3,772 SF
      905 Ctr Ave, Bay City, MI 48708-6117
      View Details
    • Value Estimation by Request
      4,650 SF

      1420 Ctr Ave

      OFFICE BUILDING • 4,650 SF
      1420 Ctr Ave, Bay City, MI 48708-6110
      View Details
    • Value Estimation by Request
      4,000 SF

      111 Washington Ave

      OFFICE BUILDING • 4,000 SF
      111 Washington Ave, Bay City, MI 48708-5845
      View Details
    • Value Estimation by Request
      1,320 SF

      1341 Johnson St

      OFFICE BUILDING • 1,320 SF
      1341 Johnson St, Bay City, MI 48708-6257
      View Details
    • Value Estimation by Request
      1,440 SF

      1000 Johnson St

      OFFICE BUILDING • 1,440 SF
      1000 Johnson St, Bay City, MI 48708-6252
      View Details
    • Value Estimation
      $630,000
      10,000 SF

      701 Madison Ave

      OFFICE BUILDING • 10,000 SF
      701 Madison Ave, Bay City, MI 48708-6464
      View Details

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      Bay City Medical/General Office

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      Bay City Commercial/Industrial Property

      Commercial/Industrial property in Bay City, Michigan with high visibility.
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      Office Unit with High Visibility

      Office unit in great location, previously an insurance office.
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    Similar Nearby for Lease

    • $18 SF/Yr

      Class A Office Space Available

      Premier riverfront development, customizable office space with downtown views.
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      View Details
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      7,000 SF

      Uptown Bay City Office Space

      Premier Class A office space with riverfront views available for rent.
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      View Details
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      Fenced Industrial Parcel Near I-75

      5-acre fenced industrial land parcel, convenient highway access.
      1601 Garfield Ave, Bay City, MI 48708
      View Details
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    916 Washington Ave
    Bay City, MI 48708-5730
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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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