10597 Lewis AveTemperance, MI 48182
- Retail properties
- 1,760 SF
Property Details for 10597 Lewis Ave
- Lot size
- 0.42 AC
- Property size (Sq ft)
- 1,760 SF
- Property type
- Retail properties
- Property subtype
- Turn key restaurants
- APN
- 02-010-005-30
- APU
- 201000530
Description
This exceptional Temperance, MI industrial property presents a compelling investment opportunity, boasting a total of 2,928 square feet situated on a 0.42-acre lot. The property is currently generating strong rental income from two distinct units. The upper unit, a two-bedroom residential space, is occupied by a long-term tenant, providing immediate cash flow for the new owner. The lower unit is leased to an established and successful restaurant, securing consistent rental income for the next three years via a current lease agreement. This ensures a stable and predictable return on investment. The property's prime location in Temperance offers excellent access to transportation routes and local amenities, further enhancing its appeal and potential for future growth. The combination of a reliable residential tenant and a thriving commercial tenant makes this a low-risk, high-reward investment opportunity. This turnkey property requires minimal management, making it ideal for both seasoned investors and those seeking a passive income stream. The property's strong tenant history and long-term lease agreements provide financial security and peace of mind. This is a rare chance to acquire a well-established, income-producing property in a desirable location. The asking price of $250,000 reflects the property's exceptional value and potential for future appreciation. Don't miss this chance to add a solid, income-generating asset to your portfolio.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $442,897
- 6.5%
- $408,828
- 7%
- $379,626
-
Comparable approach
- Method
- Valuation
- Relative Method
- $414,869
- Geo Method
- $414,869
-
Alternative Use
- Use
- Valuation
- Residential
- $344,862
- Hospitality
- $315,892
- Educational
- $262,818
- Medical
- $271,857
- Retail
- $408,828
Location Insight
- City
- Temperance
- County
- Monroe
- State
- Michigan
- Latitude
- 41.8077
- Longitude
- -83.5697
- 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
FAQs
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