8012 Lewis AveTemperance, MI 48182
- Retail properties
- 7,710 SF
Property Details for 8012 Lewis Ave
- Lot size
- 0.64 AC
- Property size (Sq ft)
- 7,710 SF
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- 02-026-049-00
- APU
- 202604900
Description
This exceptional retail property, located at 8012 Lewis Ave in Temperance, Michigan, presents a compelling investment opportunity. The 7,492 square foot building sits on a 1.47-acre lot and boasts a strong 100% occupancy rate with a single tenant under a triple-net (NNN) lease. Built in 1959 and extensively renovated in 2007, the property is zoned Commercial C-1, offering flexibility and potential for future expansion. The current lease term is for 3 years, expiring in 2024, with the ground lease expiring January 10, 2024. The tenant, established at this location for 49 years, is currently undertaking substantial upgrades to the retail space. Ample parking is available with 19 spaces on-site. The property's strategic location offers excellent demographics, with nearly 93,740 people within a 5-mile radius and an average household income exceeding $66,487. An additional lot provides the potential for future expansion or the development of new commercial construction. Financial details and the lease agreement will be provided upon execution of a confidentiality agreement. The property's parcel numbers are 02-026-049-00 and 02-026-051-00. The asking price for this turnkey investment is $980,000.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,940,193
- 6.5%
- $1,790,947
- 7%
- $1,663,022
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,817,407
- Geo Method
- $1,817,407
-
Alternative Use
- Use
- Valuation
- Residential
- $1,510,731
- Hospitality
- $1,383,821
- Educational
- $1,151,323
- Medical
- $1,190,919
- Retail
- $1,790,947
Location Insight
- City
- Temperance
- County
- Monroe
- State
- Michigan
- Latitude
- 41.7615
- Longitude
- -83.5675
- CBSA code
- 33780
- CBSA name
- MONROE, MI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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