550 Broadway StMarine City, MI 48039

Property Details for 550 Broadway St

Year built

1947

Lot size

0.12 AC

Property size (Sq ft)

3,676 SF

Property type

Retail space

APN

74-02-475-0393-000

APU

74024750393000

Description

This exceptional commercial property at 550 Broadway Street in Marine City, Michigan, presents a unique investment opportunity. The 4,000 square foot building, currently housing a successful antique store, boasts a strong annual revenue exceeding $145,000 with 33 established vendors. Recent updates include a new roof, forced air furnace, and electrical system. The property's prime location on Broadway Street, overlooking the Belle River, places it in the heart of a vibrant waterfront community with thriving tourism. Marine City offers numerous amenities, including shops, a marina, museums, theaters, restaurants, and parks, creating a high-demand environment for businesses. The building also features a 2,500 square foot second floor, ideal for additional revenue generation or live/work space. The asking price for the building is $225,000. The existing antique business is available for an additional $50,000. This presents a rare chance to acquire a profitable, established business or to create a new venture in a rapidly growing community. The property benefits from dedicated parking, a significant advantage in this desirable location. The building's strategic position within Marine City, a town experiencing significant growth and attracting investors, makes this a compelling investment opportunity with substantial potential for future returns. The seller is motivated and open to discussing details upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $1,077,511

  6.5%

  $994,626

  7%

  $923,581

• Comparable approach

  Method

  Valuation

  Relative Method

  $866,510

  Geo Method

  $866,510

• Alternative Use

  Use

  Valuation

  Residential

  $839,004

  Hospitality

  $768,523

  Educational

  $639,402

  Medical

  $661,392

  Retail

  $994,626

Location Insight

City

Marine City

County

St. Clair

State

Michigan

Latitude

42.7207

Longitude

-82.4946

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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