51 Chilson RdHowell, MI 48843

Property Details for 51 Chilson Rd

Year built

1940

Lot size

0.63 AC

Property size (Sq ft)

3,744 SF

Zone code

GCD

Property type

Commercial real estate

APN

11-06-200-026

APU

1106200026

Description

This Howell, MI industrial property, located at 51 CHILSON, offers a unique investment opportunity. The 3,744 square foot building sits on a 0.63-acre lot and boasts a prime location with high visibility due to its main intersection placement and proximity to downtown Howell, experiencing 24,000 cars daily on Grand River Avenue. Currently occupied by a thriving business, the property features an attractive log exterior with newly sealed siding and a recently completed, striped asphalt parking lot. The interior is equally impressive, showcasing a stunning design with a stone fireplace and hardwood flooring. Over 2000 square feet are dedicated to office space. A separate, fully independent warehouse space is also available, featuring an 8-foot overhead door, its own entry and utilities, a bathroom, and additional storage in the full basement. This exceptional property is being sold in conjunction with another property located at 2426 E Grand River Ave (MLS #20240072834), a 1,800 square foot building listed at $399,000. Both properties must be purchased together to complete the sale. This presents a compelling opportunity for investors seeking a combined portfolio with significant income potential.

• CAP approach

  CAP return

  Valuation

  6%

  $726,385

  6.5%

  $670,509

  7%

  $622,615

• Comparable approach

  Method

  Valuation

  Relative Method

  $350,214

  Geo Method

  $350,214

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,302,600

  Retail / Commercial

  $671,387

  Mixed-Use / Specialty

  $671,690

  Hospitality / Lodging

  $496,309

  Office

  $670,509

  Institutional / Educational

  $699,251

  Residential Income

  $818,124

  Multifamily

  $966,263

  Automotive / Energy

  $599,358

  Parking / Income-Based Land

  $204,167

  Restaurant / Food Service

  $355,107

  Healthcare / Senior Housing

  $686,041

Location Insight

City

Howell

County

Livingston

State

Michigan

Latitude

42.5976

Longitude

-83.9058

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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