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10435 State Rd

7,520 SF Vacant Retail Building Millington, MI 48746 £312,537 (£42/SF) 10.70% Net Initial Yield

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

Financial Summary (Pro forma - 2024)

Annual Annual Per SF
Gross Rental Income £40,183 £5.34
Other Income - -
Vacancy Loss - -
Effective Gross Income £40,183 £5.34
Taxes £3,370 £0.45
Operating Expenses £2,898 £0.39
Total Expenses £6,268 £0.83
Net Operating Income £33,915 £4.51

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual £40,183
Annual Per SF £5.34
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual £40,183
Annual Per SF £5.34
Taxes
Annual £3,370
Annual Per SF £0.45
Operating Expenses
Annual £2,898
Annual Per SF £0.39
Total Expenses
Annual £6,268
Annual Per SF £0.83
Net Operating Income
Annual £33,915
Annual Per SF £4.51

Property Facts

Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
7,520 SF
Building Class
C
Year Built
1998
Price
£312,537
Price Per SF
£42
Net Initial Yield
10.70%
NOI
£33,445
Percent Leased
Vacant
Tenancy
Multiple
Number of Floors
1
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
60 ft on Willard Rd

Amenities

  • Signage
  • Tenant Controlled HVAC
  • Accent Lighting
  • Air Conditioning

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
017-033-000-4000-09
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£84,283
Annual Taxes
£3,370 (£0.45/sf)
Tax Year
2024
  • Listing ID: 34078412

  • Date on Market: 08/12/2022

  • Last Updated:

  • Address: 10435 State Rd, Millington, MI 48746

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