8175 Gratiot Rd
Retail-Commercial
for Sale
| Catylist Listing ID: |
30842909 |
| Property Subtypes: |
Mixed Use
|
| Building Size (RSF): |
53,726 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
6.93 Acres
|
| Sale Price: |
$2,500,000 |
| Unit Price: |
$46.53 PSF |
| Property Use Type: |
Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
5.0% |
| Average Occupancy Rate: |
90 |
| Last Updated: |
5/15/2023 |
Overview / Comments
|
This impressive commercial retail property is an outstanding investment opportunity, featuring a total of 53,726 square feet with long-term tenants occupying the space. With 90% occupancy, this property has a proven track record of success, ensuring a stable source of income for potential investors. The property's recent updates, including a newer front parking lot and roof replacements, ensure that it is well-maintained. With its prime location and desirable features, this commercial retail property is a must-see for any serious investor looking to expand their portfolio.
|
Financials
| Finance Data Year |
2023 |
| Real Estate Taxes - Annual($) |
$33,756 (Annual) |
| Gross Operating Income |
$190,585 (Annual) |
| Net Operating Income |
$124,000 (Annual) |
| Actual or Proforma Year |
Actual |
Additional Details
| Nearest MSA: |
Saginaw |
| County: |
Saginaw |
| Tax ID/APN: |
28-12-3-26-4020-001 |
| Property Located Between: |
Victor Dr. and Sparling Dr. |
| Property Visibility: |
Excellent |
| Feet of Frontage: |
445 |
| Tenancy: |
Multiple Tenants |
| Total Number of Buildings: |
8 |
| Year Built: |
1987 |
| Construction/Siding: |
Wood Siding |
| Heat Source: |
Central |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Legal Description: |
W 126 FT OF E 957 FT OF N 350 FT OF N1/2 OF SE1/4 ALSO N 250 FT OF W 195 FT OF E 1152 FT OF N 1/2 OF SE 1/4 2.13 ACRES SEC 26 T12N R3E
N 350 FT OF W 125 FT OF E 831 FT OF N 1/2 OF SE 1/4 1.0 ACRE SEC 26 T12N R3E.
E 195 FT OF W 1695 FT OF S 85 FT OF N 335 FT OF N 1/2 OF SE 1/4 0.38 ACRE SEC 26 T12N R3E
W 126 FT OF E 957 FT OF N1/2 OF SE 1/4 EXC N 350 FT THEREOF 2.76 ACRES SEC 26 T12N R3E.
W 125 FT OF E 831 FT OF N 1/2 OF SE 1/4 EXC N 350 FT THEREOF 2.77 ACRES SEC 26 T12N R3E
|
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
4,486 |
23,413 |
66,034 |
| Median Age: |
46.58 |
43.54 |
42.9 |
| Households: |
1,865 |
10,293 |
28,214 |
|
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