Catylist ID:
#30356611
| Catylist Listing ID: | 30356611 |
| Property Subtypes: | Convenience Store, Day Care Facility, Free-Standing Building, Garden Center, Mixed Use, Post Office, Restaurant, Retail-Pad, Street Retail, Tavern/Bar/Nightclub, Vehicle Related, Other |
| Building Size (RSF): | 10,000 SF |
| Gross Land Area: | 0.66 Acres |
| Sale Price: | $450,000 |
| Unit Price: | $45 PSF |
| Ceiling: | 10 ft. |
| Property Use Type: | Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business |
| Building Name: | 808 |
| Usable Size (USF): | 10,000 SF |
| Core Factor: | 1,000% |
| Sale Terms: | Cash to Seller, Purchase Money Mortgage, Owner Financing |
| Cap Rate: | 12.5% |
| Average Occupancy Rate: | 45 |
| Last Updated: | 6/24/2022 |
Overview / Comments
|
$62,000 Income, Aprox. Net: $54,000. @ 7% Cap Rate, = Value: $887,142. Suit "E" @ $1,800/Mo. plus utilities. 34' x 80', 2700 sf, suit suitable for Medical clinic or business office including: X-Ray machine with 2-lead-lined rooms. Gross Leasable Area: 10,000 SF, Suit "A" $1,125/Mo. Great Visibility, 800sf Property Type: Retail, Office, Apartments. Occupancy: 20%, Lot Size: 0.7 AC This Building, 80' x 80'. Ground floor has 4 - (20' x 40') retail suits on Euclid Ave. 2ond fl; 4 Business offices and 2 residential units, various sizes. Separate Utilities. Parking for 35 cars. 1 mile from I-75, US-10 entrance to Bay City and Wilder rd. exits. 80,000 avg. daily car count @ site. One of the best retail areas in Bay County. |
Attachments & Media
Current Tenants
| Tenant Business Name | LA Insurance, Massage, Cricket Phone, Smoke Shop |
| Contact Name | Henry Johnson |
| Contact Title | Broker |
| Phone Number | 989-684-7080 |
| Toll-Free Number | 989-684-7080 |
| Industry Type | Retail Trade |
| Is Renting? | Yes |
| Annual Revenue | $60,000 (Annual) |
| Escalations | yes |
| Options | none |
Additional Details
| Nearest MSA: | Bay City |
| County: | Bay |
| Taxing Authority: | Bangor Township |
| Tax ID/APN: | 010-017-300-425-00 |
| Zoning: | COMMERCIAL |
| Retail Clientele: | General, Family, Business, Traveler, Tourist, Recreation, Other |
| Property Located Between: | Union rd & Wilder Rd. |
| Property Visibility: | Excellent |
| Largest Nearby Street: | On Euclid Ave, M-13 |
| Feet of Frontage: | 100 |
| Traffic/Vehicle Count: | 80,000 |
| Highway Access: | 2 miles to I-75 and US-10 |
| Airports: | MBS, Harry Brown, Flint International |
| Site Description: | Level Paved. |
| Area Description: | Best Business area In Bay County |
| Tenancy: | Multiple Tenants |
| Total Number of Buildings: | 1 |
| Number of Stories: | 2 |
| Typical SF / Floor: | 6,400 SF |
| Property Condition: | Good |
| Year Built: | 1950 |
| Year Renovated: | 2018 |
| Roof Type: | Mansard |
| Construction/Siding: | Brick |
| Exterior Description: | All in good condition. |
| Total Parking Spaces: | 30 |
| Parking Type: | Surface |
| Parking Description: | Limited street Parking plenty of rear yard parking. |
| Sprinklers: | None |
| Heat Type: | Natural Gas |
| Heat Source: | Central |
| Air Conditioning: | Engineered System, Package Unit |
| Internet Access: | Cable, DSL, ISDN, Satellite, T1/T3, Gigabit, Fiber Optic, Other |
| Interior Description: | Well kept, Good condition. |
| Zoning Description: | Commercial |
| Lot Frontage: | 100 |
| Lot Depth: | 200 |
| Water Service: | Municipal |
| Sewer Type: | Municipal, Storm |
| Land Ownership: | Fee Simple |
| Legal Description: | COM 2124 FT S OF W 1/4 POST TH E 260 FT TH S 200 FT TH W 89.9 FT TH N 98.23 FT TH W 170 FT TH N 100 FT TO BEG. SEC 17 T14N R5E |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 9,523 | 55,328 | 75,681 |
| Median Age: | 39.03 | 40.1 | 41.2 |
| Households: | 4,070 | 23,191 | 31,830 |
Contact
Henry JohnsonHenry Johnson Real Estate & Leasing CompanyCPIX Member |
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