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718 E Mount Morris Rd 2,583 SF 100% Leased Retail Building Mount Morris, MI 48458 $109,000 ($42.20/SF) 11% Cap Rate
Investment Highlights
- Downtown Mt Morris Mixed Use Building
- Public Parking Lot & Low Overhead
- 100% Occupied
Executive Summary
Excellent investment opportunity in downtown Mt Morris! With more than 2,500 square feet of rentable space, this three-unit, mixed use building would be a perfect addition to your investment portfolio! Two contemporary apartments span the second floor and have each been recently remodeled and feature cathedral ceilings, recessed lighting, and solid surface flooring. The main floor is 1,600 square feet and host to a long-term retail tenant. Large windows in the first floor suite are great for foot traffic advertising. Municipal parking to the north and along the street reduce overhead and maintenance costs. Many updates throughout. All units are leased with performing tenants.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
2,583 SF
Building Class
C
Year Built/Renovated
1880/2022
Price
$109,000
Price Per SF
$42.20
Cap Rate
11%
NOI
$11,990
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.19
Lot Size
0.05 AC
Zoning
R-1 SF PUD - Mixed Use
Frontage
Amenities
- 24 Hour Access
- Corner Lot
- Storage Space
- Smoke Detector
Nearby Major Retailers
Property Taxes
| Parcel Number | 57-07-503-012 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $24,300 |
Property Taxes
Parcel Number
57-07-503-012
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$24,300
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718 E Mount Morris Rd
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