314 Main StDurand, MI 48429

Property Details for 314 Main St

Year built

1979

Lot size

0.56 AC

Property size (Sq ft)

3,672 SF

Zone code

R-2

Property type

Strip malls

Property subtype

Neighborhood centers

APN

020-12-010-001

APU

2012010001

Description

This vacant three-unit mini-plaza, totaling 3,672 square feet, presents a compelling value-add investment opportunity in Durand, Michigan. Located at 314 E Main St, this property boasts excellent street frontage and ample parking, situated conveniently east of downtown Durand, across from residential neighborhoods and near Durand Union Station. Built in 1979, the single-story building sits on a 0.56-acre lot and is classified as Class D. Currently vacant, the property offers a pro-forma NOI of $36,720 and a pro-forma cap rate of 36.72%, representing significant upside potential for the investor. The asking price is $100,000, translating to $27.23 per square foot. The property's three units provide flexibility for a variety of uses, including restaurants, salons, or retail stores. This is an ideal opportunity for an owner-user or investor seeking a strong return on investment in a desirable location. The property's APN is 020-12-010-001-00. The property is currently vacant and offers a blank canvas for a new owner to create a thriving retail space.

• CAP approach

  CAP return

  Valuation

  6%

  $924,045

  6.5%

  $852,965

  7%

  $792,039

• Comparable approach

  Method

  Valuation

  Relative Method

  $865,567

  Geo Method

  $865,567

• Alternative Use

  Use

  Valuation

  Residential

  $719,508

  Hospitality

  $659,065

  Educational

  $548,334

  Medical

  $567,192

  Retail

  $852,965

Location Insight

City

Durand

County

Shiawassee

State

Michigan

Latitude

42.9107

Longitude

-83.9822

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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