3504 Palms RdCasco, MI 48064

Property Details for 3504 Palms Rd

Lot size

0.86 AC

Property size (Sq ft)

5,212 SF

Zone code

B-2

Property type

Grocery and convenience stores

APN

74-12-011-2013-000

APU

74120112013000

Description

This exceptional Casco, MI property presents a rare investment opportunity, priced at $749,900. The 1.2-acre corner lot houses a thriving, established convenience store with a rich 60+ year history. The 2,266 square foot store offers a diverse product range including craft beer, fine wine, premium liquor, and lottery tickets. Adding to the investment potential is a fully leased 2,266 square foot residential apartment on the second floor, generating consistent rental income. Furthermore, a 1,326 square foot light industrial building provides additional income potential or expansion opportunities. The total operational space encompasses 5,858 square feet. This turnkey business is ready for a new owner to continue its legacy of success. Inventory is sold separately. Direct contact with the seller is prohibited. All inquiries must be directed through the appropriate channels. This property offers a unique blend of commercial and residential income streams, making it an attractive investment for discerning buyers. The property's history, location, and diverse income streams combine to create a compelling investment proposition.

• CAP approach

  CAP return

  Valuation

  6%

  $1,593,509

  6.5%

  $1,470,932

  7%

  $1,365,865

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,228,577

  Geo Method

  $1,228,577

• Alternative Use

  Use

  Valuation

  Residential

  $1,240,786

  Hospitality

  $1,136,553

  Educational

  $945,599

  Medical

  $978,120

  Retail

  $1,470,932

Location Insight

City

Casco

County

St. Clair

State

Michigan

Latitude

42.7978

Longitude

-82.6344

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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