8736 Swan CrkCharter Township of Berlin, MI 48166

Property Details for 8736 Swan Crk

Lot size

0.08 AC

Property size (Sq ft)

1,368 SF

Property type

Retail space

APN

03-001-066-00

APU

300106600

Description

This exceptional commercial property, located at 8736 Swan Creek in the heart of Newport, Michigan, presents a unique investment opportunity. The 6,969 square foot lot houses a free-standing block building that has undergone a complete renovation. Improvements include a new gable roof, updated siding and trim, newer furnace, windows, and air conditioning. Currently configured as an insurance office, the building offers significant versatility and potential for a variety of uses. The possibilities are numerous, including retail, a doctor's office, or even a video store or dollar store. The property also features a walk-out basement and a garage, providing ample storage and additional space. Conveniently located in downtown Newport, this property benefits from high traffic volume and excellent visibility. Its strategic location offers easy access to major roadways, including I-75, I-275, and Telegraph Road. Additional parking is available at the rear of the building. The current monthly rent is $1,200, and a land contract may be considered. This is an ideal opportunity for an investor seeking a well-maintained, adaptable commercial space in a thriving Michigan community. The asking price is $249,900.

• CAP approach

  CAP return

  Valuation

  6%

  $344,252

  6.5%

  $317,771

  7%

  $295,073

• Comparable approach

  Method

  Valuation

  Relative Method

  $322,466

  Geo Method

  $322,466

• Alternative Use

  Use

  Valuation

  Residential

  $268,052

  Hospitality

  $245,534

  Educational

  $204,281

  Medical

  $211,307

  Retail

  $317,771

Location Insight

City

Newport

County

Monroe

State

Michigan

Latitude

42.0019

Longitude

-83.308

CBSA code

33780

CBSA name

MONROE, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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