10435 State Rd
7,520 SF Vacant Retail Building Millington, MI 48746 $399,000 ($53/SF) 10.70% Cap Rate
INVESTMENT HIGHLIGHTS
- Turn-key business Opportunity!
- Willard Rd access gives options to expand!
- Added Value with Pole barn!
- 6 Units with 100% Occupancy for 2024!
EXECUTIVE SUMMARY
Opportunity is Knocking!!!
Investor Opportunity on M-15 for this Millington success story! Need a storefront? Need a storage building? This turn-key investment could give you both AND still create a monthly profit.
So many opportunities exist with this well-maintained strip mall. Large pole building behind adds value and options. Willard Rd. frontage makes the possibility for added entrance off of the side street (Willard Rd). 185' of frontage on M-15 provides exposure and drive-by traffic.
Previous uses included automotive services and sales.
Would be a great location for equipment rental, automotive repair and sales, any contractor base, fence or roofing company, asphalt or driveway company, lawn service, automotive services and so much more.
Huge property footprint of nearly 4 acres with the possibility to add 3 additional acres ($45,000).
Occupancy of 6 units is 100% as of 2/1/24. Tenants are operating on an annual lease. Please Call Quin Bartlett for all information regarding this amazing property (810) 287 - 1535
Investor Opportunity on M-15 for this Millington success story! Need a storefront? Need a storage building? This turn-key investment could give you both AND still create a monthly profit.
So many opportunities exist with this well-maintained strip mall. Large pole building behind adds value and options. Willard Rd. frontage makes the possibility for added entrance off of the side street (Willard Rd). 185' of frontage on M-15 provides exposure and drive-by traffic.
Previous uses included automotive services and sales.
Would be a great location for equipment rental, automotive repair and sales, any contractor base, fence or roofing company, asphalt or driveway company, lawn service, automotive services and so much more.
Huge property footprint of nearly 4 acres with the possibility to add 3 additional acres ($45,000).
Occupancy of 6 units is 100% as of 2/1/24. Tenants are operating on an annual lease. Please Call Quin Bartlett for all information regarding this amazing property (810) 287 - 1535
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$51,300
|
$6.82
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$51,300
|
$6.82
|
| Taxes |
$4,302
|
$0.57
|
| Operating Expenses |
$3,700
|
$0.49
|
| Total Expenses |
$8,002
|
$1.06
|
| Net Operating Income |
$43,298
|
$5.76
|
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
7,520 SF
Building Class
C
Year Built
1998
Price
$399,000
Price Per SF
$53
Cap Rate
10.70%
NOI
$42,698
Percent Leased
Vacant
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.04
Lot Size
3.97 AC
Zoning
Commercial - Misc Commercial Services
Parking
22 Spaces (2.93 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Signage
- Tenant Controlled HVAC
- Accent Lighting
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 017-033-000-4000-09 | Total Assessment | $107,600 |
| Land Assessment | $0 | Annual Taxes | $4,302 ($0.57/SF) |
| Improvements Assessment | $0 | Tax Year | 2024 |
