303 Grand River AveHowell, MI 48843

Property Details for 303 Grand River Ave

Year built

1900

Lot size

0.29 AC

Property size (Sq ft)

8,963 SF

Zone code

CBD

Property type

Commercial real estate

APN

17-36-307-038

APU

1736307038

Description

This exceptional 8,963 square foot industrial property, situated in the heart of downtown Howell, Michigan, presents a unique investment opportunity. Located at 303 E Grand River, the 0.29-acre lot offers significant potential for redevelopment. Currently configured as industrial space, the property is ideally suited for conversion into various commercial uses, such as retail outlets. The existing building provides ample space for immediate occupancy, while approved site plans allow for the construction of a new four-story structure. This ambitious plan includes first-floor commercial space and two upper floors designated for apartments or condominiums, offering a mixed-use development possibility. Street parking is readily available and approved for most commercial uses. The property is available for both sale at $855,000 and lease, making it an attractive option for a wide range of businesses seeking a prime location in a thriving downtown area. Showings are by appointment only. This property offers a rare blend of existing functionality and significant future development potential in a highly desirable location. The approved site plan provides a clear pathway for expansion and diversification, making this an exceptional opportunity for investors and businesses alike. Don't miss this chance to secure a prominent presence in the vibrant Howell community.

• CAP approach

  CAP return

  Valuation

  6%

  $1,738,940

  6.5%

  $1,605,170

  7%

  $1,490,520

• Comparable approach

  Method

  Valuation

  Relative Method

  $838,399

  Geo Method

  $838,399

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,118,370

  Retail / Commercial

  $1,607,280

  Mixed-Use / Specialty

  $1,608,000

  Hospitality / Lodging

  $1,188,150

  Office

  $1,605,170

  Institutional / Educational

  $1,673,980

  Residential Income

  $1,958,560

  Multifamily

  $2,313,200

  Automotive / Energy

  $1,434,840

  Parking / Income-Based Land

  $488,768

  Restaurant / Food Service

  $850,113

  Healthcare / Senior Housing

  $1,642,360

Location Insight

City

Howell

County

Livingston

State

Michigan

Latitude

42.6061

Longitude

-83.928

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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