491 Main StLapeer, MI 48446

Property Details for 491 Main St

Year built

1964

Lot size

0.45 AC

Property size (Sq ft)

5,778 SF

Zone code

B2 GEN

Property type

Retail space

APN

L21-54-100-040-00

APU

L215410004000

Description

This exceptional 5,778 square foot retail property, located at 491 S Main St, Lapeer, MI, presents a fantastic opportunity for a discerning business. Currently offering 2,500 square feet of vacant space, this single-tenant building sits on a 0.9-acre lot and boasts a newly renovated exterior facade, providing immediate curb appeal. Its prime location directly behind a T-Mobile store ensures high visibility and foot traffic. The property is zoned Commercial/Retail (APN: L215410004000) and offers excellent signage opportunities, including monument and building signage. The building's total square footage is 5,778 square feet, providing ample space for a variety of retail uses. The cross street is Demille, further enhancing its accessibility and visibility. This property is ideal for a business seeking a prominent location with strong potential for growth in a thriving commercial area. The updated exterior and convenient location make this a truly exceptional opportunity. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $1,454,012

  6.5%

  $1,342,165

  7%

  $1,246,296

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,361,995

  Geo Method

  $1,361,995

• Alternative Use

  Use

  Valuation

  Residential

  $1,132,166

  Hospitality

  $1,037,058

  Educational

  $862,820

  Medical

  $892,494

  Retail

  $1,342,165

Location Insight

City

Lapeer

County

Lapeer

State

Michigan

Latitude

43.0457

Longitude

-83.3189

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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