118 Corunna AveCorunna, MI 48817

Property Details for 118 Corunna Ave

Year built

1981

Lot size

0.11 AC

Property size (Sq ft)

480 SF

Zone code

RA

Property type

Auto shops

APN

026-10-011-012

APU

2610011012

Description

This 480-square-foot commercial property is ideally situated in downtown Corunna, Michigan, just one block from Shiawassee Street. The property boasts a convenient location with a large parking lot, adding significant appeal for potential tenants or business owners. The building is constructed of block and benefits from access to natural gas, municipal water, and sewer services. Internal features include an overhead garage door, a half-bath, and convenient alley access. The property sits on a 0.12-acre lot, offering ample space for various uses. The versatile nature of this space presents numerous possibilities for a variety of businesses. A lease option is available at a monthly rate of $850, with the tenant responsible for all associated expenses. This presents a unique opportunity for both ownership and tenancy, making it an attractive investment or business location in the heart of Corunna. The property's prime location and practical features make it a compelling option for entrepreneurs and investors seeking a foothold in a thriving downtown area. The combination of ample parking, convenient utilities, and versatile space makes this property a standout opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $120,790

  6.5%

  $111,499

  7%

  $103,534

• Comparable approach

  Method

  Valuation

  Relative Method

  $113,146

  Geo Method

  $113,146

• Alternative Use

  Use

  Valuation

  Residential

  $94,053

  Hospitality

  $86,152

  Educational

  $71,678

  Medical

  $74,143

  Retail

  $111,499

Location Insight

City

Corunna

County

Shiawassee

State

Michigan

Latitude

42.9821

Longitude

-84.1188

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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