415 Jerome StMidland, MI 48640

Property Details for 415 Jerome St

Year built

1937

Lot size

0.17 AC

Property size (Sq ft)

1,176 SF

Zone code

CC

Property type

Office buildings

APN

14-16-60-604

APU

141660604

Description

This exceptional 1,176 square foot industrial property presents a unique development opportunity in the thriving city of Midland, Michigan. Situated on a 0.6-acre lot, this strategically located site boasts significant frontage on Jerome (M-20), Indian (Bus 10), and Buttles streets, ensuring high visibility and accessibility. Average daily traffic counts range from 10,000 to 18,000 vehicles, depending on the specific intersection, providing unparalleled exposure for any future development. The property currently generates income via a small office space leased on a month-to-month basis, offering a potential revenue stream while development plans are finalized. This versatile property is zoned for mixed use, opening up a wide range of possibilities for redevelopment. Its prime location and high traffic volume make it an ideal investment for developers seeking a high-impact project in a dynamic market. The existing office building provides immediate income potential, allowing for a phased approach to development. This is a rare chance to acquire a highly visible and strategically located property in the heart of Midland, ready for its next chapter. The property's mixed-use zoning allows for a variety of development options, catering to a diverse range of potential uses. Don't miss this opportunity to capitalize on the potential of this exceptional location.

• CAP approach

  CAP return

  Valuation

  6%

  $201,317

  6.5%

  $185,831

  7%

  $172,557

• Comparable approach

  Method

  Valuation

  Relative Method

  $110,003

  Geo Method

  $110,003

• Alternative Use

  Use

  Valuation

  Residential

  $230,431

  Hospitality

  $211,073

  Educational

  $175,610

  Medical

  $181,650

  Retail

  $273,172

Location Insight

City

Midland

County

Midland

State

Michigan

Latitude

43.6175

Longitude

-84.2451

CBSA code

33220

CBSA name

MIDLAND, MI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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