For Sale
$149,999

202 Michigan Ave Clinton, MI 49236

Prime location, 1700 sq ft, 13% cap rate

Overview

Added:
Dec 11, 2024
Days on market:
133
This 1700-square-foot retail property, located at 202 E Michigan Ave in Clinton, Michigan (49236), presents a compelling investment opportunity. The property, a former car wash, boasts a brand-new steel roof and is offered at $149,999 with a 13% cap rate. Built in 1970, the building sits on a commercially zoned lot (APN 20240061847) and includes all equipment. Currently vacant and not operating, this presents a unique chance for a hands-on investor to revitalize the business or explore alternative uses within the existing commercial zoning. The property is offered with attractive land contract terms, making it accessible to a wider range of buyers. A 99-year lease is in place. Proof of funds is required for viewings and offers. Inspections are permitted during due diligence. The property is 100% vacant. The seller closed the business three years ago and completed several updates, including the new roof. This is a single-tenant, gross lease property.

Highlights

  • $149,999 asking price for a 1,700 sq ft retail property.
  • Gross lease, single-tenant occupancy at 100%.
  • 99-year remaining lease term.
  • 13% cap rate.
  • Built in 1970, with Commercial zoning.
  • Located at 202 E Michigan Ave, Clinton, MI 49246 (APN: 20240061847).

Property Details for 202 Michigan Ave

Property type
Retail properties
Square Feet
1,700 SF
Year Built
1970

Location Insight

City
Clinton
County
Lenawee
State
Michigan
Latitude
42.0731793
Longitude
-83.9688905

FAQs

What type of property is this?
Retail property - Prime location, 1700 sq ft, 13% cap rate
Where is the retail property located?
The property is located at 202 Michigan Ave Clinton, MI.
What is the asking price?
The asking price for this property is $149,999.
What are key features of this property?
This property features: $149,999 asking price for a 1,700 sq ft retail property.; Gross lease, single-tenant occupancy at 100%.; 99-year remaining lease term.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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202 Michigan Ave
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