2250 Greenwood RdPrescott, MI 48756

Property Details for 2250 Greenwood Rd

Lot size

0.34 AC

Property size (Sq ft)

2,752 SF

Property type

Commercial real estate

APN

010-026-103-00

APU

1002610300

Description

This exceptional 2,752 square foot industrial property, located at 2250 E Greenwood in Prescott, Michigan, presents a unique investment opportunity. Priced at $75,000, the building boasts ample parking, a significant advantage for businesses requiring convenient vehicle access. Its strategic location directly across from Skidway Lake offers appealing aesthetics and potential for branding opportunities. The building's history as a bar and restaurant suggests a versatile layout adaptable to a variety of commercial uses. The substantial square footage provides ample space for operations, storage, or a combination thereof. The 0.34-acre lot provides additional space for expansion or outdoor activities. The property's existing infrastructure offers a cost-effective entry point for businesses seeking a ready-to-occupy space, eliminating the need for extensive renovations or construction. This property is ideal for entrepreneurs seeking a well-located, spacious building with significant parking at an attractive price point. The combination of size, location, and price makes this an exceptional opportunity in the Prescott, Michigan market. Serious inquiries are encouraged to explore the potential of this versatile industrial space.

• CAP approach

  CAP return

  Valuation

  6%

  $533,924

  6.5%

  $492,853

  7%

  $457,649

• Comparable approach

  Method

  Valuation

  Relative Method

  $257,422

  Geo Method

  $257,422

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $957,464

  Retail / Commercial

  $493,498

  Mixed-Use / Specialty

  $493,721

  Hospitality / Lodging

  $364,808

  Office

  $492,853

  Institutional / Educational

  $513,980

  Residential Income

  $601,356

  Multifamily

  $710,245

  Automotive / Energy

  $440,554

  Parking / Income-Based Land

  $150,071

  Restaurant / Food Service

  $261,019

  Healthcare / Senior Housing

  $504,269

Location Insight

City

Prescott

County

Ogemaw

State

Michigan

Latitude

44.1832

Longitude

-84.0348

Property Tax & Assessments

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