2602 Imlay City RdLapeer, MI 48446

Property Details for 2602 Imlay City Rd

Year built

1984

Lot size

0.48 AC

Property size (Sq ft)

3,088 SF

Zone code

C-1

Property type

Grocery and convenience stores

APN

012-001-036-00

APU

1200103600

Description

This exceptional investment opportunity presents a thriving, established liquor store in Lapeer, MI, encompassing both the business and the real estate. The 3,088 square foot building sits on a 0.48-acre lot and includes a valuable Specially Designated Distributor (SDD) license. The business boasts impressive financial performance, averaging $68,000 in monthly gross revenue. A significant portion of this revenue stems from a profitable small kitchen operation, generating approximately $12,000 monthly from hot food sales. Further contributing to profitability are lottery commissions, totaling $38,000 in 2023, and substantial spirit sales, exceeding $110,000 in inventory ordered during the same year. The property also features a large 28-door walk-in cooler, essential for inventory management. This turnkey operation benefits from a lack of competition within a 2.5-mile radius. The seller is open to selling the business and SDD license separately, while leasing the real estate. This presents a unique opportunity for an owner-operator to capitalize on the existing success and further enhance profitability through strategic improvements, such as expanding delivery services, enhancing the hot food menu, increasing inventory levels, and expanding the vape and smoking accessory selection. The asking price for the entire package is $749,999.

• CAP approach

  CAP return

  Valuation

  6%

  $777,084

  6.5%

  $717,308

  7%

  $666,072

• Comparable approach

  Method

  Valuation

  Relative Method

  $727,906

  Geo Method

  $727,906

• Alternative Use

  Use

  Valuation

  Residential

  $605,076

  Hospitality

  $554,246

  Educational

  $461,127

  Medical

  $476,985

  Retail

  $717,308

Location Insight

City

Lapeer

County

Lapeer

State

Michigan

Latitude

43.0454

Longitude

-83.2416

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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