25 Saginaw StPontiac, MI 48342

Property Details for 25 Saginaw St

Year built

1920

Lot size

0.26 AC

Property size (Sq ft)

22,192 SF

Zone code

BI

Property type

Retail space

APN

64-14-29-476-015

APU

641429476015

Description

This exceptional investment opportunity presents a 16,000 square foot, single-unit nightclub located at 25 S Saginaw St, Pontiac, MI 48342. Currently operating under a gross lease, the established nightclub tenant generates a substantial net operating income (NOI) of $48,000, resulting in an attractive 8.00% capitalization rate. The property boasts a 2020 renovation and offers significant value-add potential. The second floor, currently vacant, presents a prime opportunity for conversion into residential units, capitalizing on the growing demand for housing in Pontiac's revitalizing downtown area. This versatile property benefits from its prime location in a high-traffic area, offering both immediate income and long-term growth potential. The asking price is $600,000. The property's strong cash flow, coupled with the potential for residential development, makes this an ideal investment for those seeking both immediate return and future appreciation. The existing nightclub tenant provides a stable income stream, minimizing risk and maximizing your return on investment. This is a rare chance to acquire a property with both established income and significant upside potential in a thriving Michigan market.

• CAP approach

  CAP return

  Valuation

  6%

  $5,584,534

  6.5%

  $5,154,954

  7%

  $4,786,744

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,231,116

  Geo Method

  $5,231,116

• Alternative Use

  Use

  Valuation

  Residential

  $4,348,397

  Hospitality

  $3,983,108

  Educational

  $3,313,899

  Medical

  $3,427,870

  Retail

  $5,154,954

Location Insight

City

Pontiac

County

Oakland

State

Michigan

Latitude

42.6374

Longitude

-83.2926

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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