1612 Lapeer AvePort Huron, MI 48060

Property Details for 1612 Lapeer Ave

Year built

1955

Lot size

0.46 AC

Property size (Sq ft)

1,355 SF

Zone code

C1

Property type

Retail space

APN

74-06-009-2001-007

APU

74060092001007

Description

This exceptional 1,355 square foot commercial building, located at 1612 Lapeer Avenue in Port Huron, Michigan, presents a unique investment opportunity. Currently operating as an auto shop, this Class C property offers a sale-leaseback option, providing a seamless transition for the new owner. The building, constructed in 1955 and extensively renovated in 2023, boasts a prime location on a major artery into Port Huron, with easy access to expressways. Recent upgrades include a new roof, siding, and gutters (2021), expanded parking for 16 vehicles, new vinyl flooring and soffit ceilings in the main office and bathroom, and a redesigned layout featuring two larger rooms. Further enhancements include a new garage door, a six-camera security system, and fully insulated walls in the main office. The property is zoned for commercial use and sits on a 1-story building. The asking price is $199,000, resulting in a price per square foot of $146.86. The seller, Red Ridge Auto LLC, is offering a two-year leaseback to the new owner, minimizing disruption and maximizing potential returns. The property's APN is 74060092001007. This is an ideal opportunity for an investor seeking a turnkey operation with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $414,276

  6.5%

  $382,408

  7%

  $355,093

• Comparable approach

  Method

  Valuation

  Relative Method

  $319,402

  Geo Method

  $319,402

• Alternative Use

  Use

  Valuation

  Residential

  $322,576

  Hospitality

  $295,478

  Educational

  $245,834

  Medical

  $254,289

  Retail

  $382,408

Location Insight

City

Port Huron

County

St. Clair

State

Michigan

Latitude

42.9766

Longitude

-82.4437

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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