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$799,900
Est. payment /mo
8 Baths
1.47 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality Carrollton Twp
Subdivision Carrollton Twp
MLS Listing ID 50134192
Year Built 1972
Lot Size 1.470 Acres
Acres 1.47
Lot Dimensions 232x295
Source MiRealSource
Property Description
Fully stabilized mixed-use investment offering strong in-place cash flow, zero vacancy risk in core components, and immediate upside through commercial lease-up. NOI: $115,860 Gross Income: $154,560 Expenses: $38,700 Cap Rate: ~14.5% Residential 8 Units – 100% occupied with stable income. Warehouse 8,000 SF – 100% occupied. Below-market rents. Commercial Space 3,000+ SF vacant. Value-add lease-up opportunity. Permitted Uses: Retail store, convenience store, grocery store, restaurant, café, coffee shop, bakery, barbershop, hair salon, nail salon, spa, massage therapy, medical office, dental office, chiropractic clinic, physical therapy clinic, pharmacy, insurance office, real estate office, law office, accounting office, professional office, coworking space, daycare center, tutoring center, fitness studio, gym, yoga studio, martial arts, ETC. Additional Income Coin-operated washer & dryer generating approximately $200/month ($2,400/year). Upside Potential: Lease commercial space, increase warehouse rents, unit conversions. $40K+ additional income potential. High cash-flow asset with immediate income and strong upside. Priced for fast sale.
Location
State MI
County Saginaw
Interior
Heating Forced Air
Exterior
View Y/N No
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by The Miller Group
Nearby School & Business
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Nick Schweihofer
Team Leader, Broker | License ID: 6506047709
Team Leader, Broker License ID: 6506047709
REVIEWS
- Nick did an awesome job in helping us find and purchase our condo. He listened to our wants and identified options and in the end we found a good fit for our needs for a vacation home Since we are far from Holland Nick set up a couple video tours to reduce travel. Thanks Nick for all the hard work and insight. We are very excited about our new home!Gordon L
- Nick was awesome to work with! I just went through the process of purchasing my first home and Nick couldn’t have made it any easier. He is super knowledgeable about the industry and the area. He answered all my questions and made sure to point out things I may not be thinking of since it was my first time going through the process. He was attentive, super responsive, easy to talk to, and truly cares about finding his clients a home they’ll love! I’m looking forward to working with him again in the future and would definitely recommend him as an agent!Emily Rzeszutko
- Nick was amazing to work with! This was my first time buying a house. Nick was very patient and took the time to walk me through everything and address all my questions. He was always quick to respond. He was clearly knowledgeable about the area and was great at pointing out and educating me on issues to watch for as we walked through houses. I absolutely recommend Nick to anyone buying or selling a home, and look forward to working with him again in the future!Kayla Kocal
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