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    Shepherd, MI Residential Income Properties for Sale

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    Mount Pleasant, MI Saint Louis, MI Alma, MI
    Historic Mixed-Use Income Opportunity
    $489,000
    5,200 SF
    Historic Mixed-Use Income Opportunity

    323 W Wright Avenue, Shepherd, MI 48883

    Mixed-use property with retail and short-term rental income.
    • Prime Main Street location in a desirable area with high visibility and foot traffic.
    • Mixed‑use property with existing cash flow from retail and short‑term rentals (Airbnb).
    • Flexible configuration with potential for conversion to multifamily, student housing, or expanded commercial space.
    • Over 5000 sq ft of finished space, including a mostly finished lower floor with separate entrance.
    • Includes a vacant side lot with yardage and a large parking lot.
    Updated: Mar 21
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    Historic Mixed-Use Income Opportunity
    $489,000
    5,000 SF
    Historic Mixed-Use Income Opportunity

    323 W Wright Ave, Shepherd, MI 48883

    Rare mixed-use property with retail and short-term rental income.
    • Mixed‑use property with existing retail and short‑term rental income.
    • Prime Main Street location near restaurants, businesses, and a park.
    • Over 5000 finished sq ft with flexible configuration options.
    • Proximity to Central Michigan University (CMU) and Soaring Eagle Casino & Resort.
    • Large parking lot and vacant side lot included.
    Updated: Mar 31
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    Versatile Commercial Property on State Road
    $140,000
    43,560 SF
    Versatile Commercial Property on State Road

    Commercial property with storefronts, mobile homes, and development potential.

    4235 W Isabella, Shepherd, MI 48883

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    Based on your search, we've compiled 11 Potential Opportunities for your consideration. Besides 3 Active listings in Shepherd, MI, we suggest exploring several alternatives: 4 properties in Nearby Cities, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Commercial Land with Rental Income
    $699,900
    2.63 Acres
    Commercial Land with Rental Income

    2.63 acres with frontage and existing rental income.

    4205 & 4173 S Isabella Road, Mt Pleasant, MI 48858

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    Two Duplex Multifamily Property
    $319,900
    Two Duplex Multifamily Property

    Four occupied units in two duplexes, with recent roof, flooring, and interior paint updates.

    Mount Pleasant, MI 48858

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    Mt Pleasant Licensed Rental Property
    $245,000
    2,026 SF
    Mt Pleasant Licensed Rental Property

    8 bedroom, 3 bath licensed rental property in Mt Pleasant.

    1020 S Lansing, Mt Pleasant, MI 48858

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    Licensed Rental Property For Sale
    $245,000
    0.12 Acres
    Licensed Rental Property For Sale

    8 bedroom, 3 bath licensed rental property.

    1020 S Lansing St, Mount Pleasant, MI 48858

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    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    25 Acres Wooded Land
    $155,000
    25.00 Acres
    25 Acres Wooded Land

    25 acres of wooded land east of Mt. Pleasant.

    7258 E Pickard Road, Mt Pleasant, MI 48858

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    M-20 Commercial Corridor Land
    $308,000
    2.42 Acres
    M-20 Commercial Corridor Land

    Land with frontage on M-20 in Mount Pleasant, MI.

    7308 E Pickard Road, Mount Pleasant, MI 48858

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    Residential Land in Mt Pleasant
    $70,000
    7.51 Acres
    Residential Land in Mt Pleasant

    7.51 acre residential lot suitable for building a home.

    TBD Shepherd Road, Mt Pleasant, MI 48858

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    Residential Building Lot Near CMU
    $36,900
    1.40 Acres
    Residential Building Lot Near CMU

    1.25 acre residential building lot near CMU campus.

    TBD E Millbrook Road, Mt Pleasant, MI 48858

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    Shepherd, MI Residential Income Properties Market Trends and Statistics

    Explore 3 residential income properties for sale in Shepherd, MI, showcased through 3 active listings on our real estate platform. These investment opportunities span a total of 53,760 square feet of properties for sale, with an estimated market value of $1,118,000.

    Sale prices for residential income properties in Shepherd, MI start at $140,000, averaging $372,666, and reaching up to $489,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Multifamily properties 4
    Short term rental properties 2
    Mobile home & RV parks 1
    Quadplexes 1

    Demographics Overview

    Population 6,755
    Population Growth (5Y) -2.3%
    Median Household Income $66,364
    College Educated 26.7%

    High-Yield Neighborhoods for Investment

    Identify Shepherd submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    48883 $372.7K

    Taxes & Financing

    Tax Rate (average for all types) 4.58%
    Property Tax per SF $89.48 per SF
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Isabella County

    New Delisted

    Total CRE Inventory on Market (SF)

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