Address
414-420 Lake Nepessing Lapeer, MI
Price
$ 419,900
Property Attributes
  • MLS#40261546
  • TypeCommercial
  • CountyLAPEER
  • CityLapeer
  • AreaElba Twp
  • NeighborhoodElba Twp
  • Zip484 462
  • StyleCommercial/Industrial
  • Taxes$ 6170
  • Price$ 419,900
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage4200
  • Lot Size0.86 Acres
Listing Provided Courtesy Of:
RE/MAX Plus - 810-969-4445
Data Source:
MiRealSource (MIRS)
Property Description

A Fantastic opportunity and investment, with great cash flow & location. A Fully leased, Brick office building located right off the I-69 Business corridor. Building completely updated in 2020-2021, w/ new roof, resurfaced parking lots, remodeled interiors with new lighting fixtures, bathrooms, flooring, paint, etc. The mechanical systems for each of the units have new water heaters, furnaces & air conditioners serviced & updated as needed with programable thermostats. Has Gross rents of $61,200 a year, a money maker from the get-go. With 20% down, after debt service it has a great cap rate of 12.5%, with a “cash on cash” return of over 40%. Don’t wait on this great investment.

Price History
12/13/2021 Listed $419,900

General Features

Class COM/IND/BUS OPP
Commercial Features 220 Volt Power, Cable TV Available, Lawn Sprinkler
Directions I-69 to Lake Nepessing Exit, North to property on the West side.
Exterior Features Security Lighting
Financial Terms Cash, Conventional
Heating Forced Air
Listing Area Elba Twp (44009)
Municipality Elba Twp
Originating Mls RealComp
Ownership Private
Roof Rubber
Source Mls MI Real Source
Status Active
Status Active
Subj To Short Sale Apprvl No
Type Commercial/Industrial
Water Private Well
Water Heater Electric
Year Built 19
Zoning Professional Office

Interior Features

Fuel Type Natural Gas

Exterior Features

Exterior Brick
Foundation Type Basement
Frontage 120
Lot Dimensions 120 X 310 X 118 X 310
Lot Size Area 0.86
Roads Class B
Sewer Septic Septic
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 484 462

Price
AVG $740K
$420K
Taxes
AVG $36,431
$6,170
Visits
AVG 7
4
Walkscore
AVG 38
13
Data Provided by Walkscore ® not using MLS data