7858 Dixie HwyNewport, MI 48166

Property Details for 7858 Dixie Hwy

Lot size

0.51 AC

Property size (Sq ft)

7,580 SF

Property type

Retail space

APN

03-007-031-00

APU

300703100

Description

This exceptional Newport, MI industrial property presents a unique investment opportunity. Located at 7858 N DIXIE, the property encompasses a 0.51-acre lot and features a main building totaling 5,580 square feet, divided into three distinct units. Unit 1 offers 2,640 square feet, Unit 2 comprises 1,500 square feet, and Unit 3 measures 1,440 square feet. The previous use as a pizzeria and bakery suggests potential for food-related businesses, while the spacious layout of one unit is well-suited for a small automotive operation. A significant advantage is the presence of a long-term tenant, providing immediate income potential. Beyond the main building, a separate 2,500 square foot structure at the rear offers additional storage or workshop space. While some cosmetic updates are recommended, the property's asking price of $110,000 reflects this need and presents an attractive entry point for investors. The property's versatile layout and prime location in Newport make it an ideal investment for entrepreneurs seeking a multi-use space with significant upside potential. The total square footage of the main building and the separate structure is 7,580 square feet. Buyer to verify all information.

• CAP approach

  CAP return

  Valuation

  6%

  $1,907,479

  6.5%

  $1,760,750

  7%

  $1,634,982

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,786,764

  Geo Method

  $1,786,764

• Alternative Use

  Use

  Valuation

  Residential

  $1,485,258

  Hospitality

  $1,360,488

  Educational

  $1,131,910

  Medical

  $1,170,839

  Retail

  $1,760,750

Location Insight

City

Newport

County

Monroe

State

Michigan

Latitude

41.9919

Longitude

-83.2885

CBSA code

33780

CBSA name

MONROE, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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