121 Phelps StDecatur, MI 49045

Property Details for 121 Phelps St

Year built

1920

Lot size

0.06 AC

Property size (Sq ft)

2,210 SF

Property type

Office buildings

APN

80-43-040-319-00

APU

804304031900

Description

This exceptional business opportunity presents a vintage building ideally situated in the heart of Decatur, Michigan. Boasting a generous 2,210 square feet of main floor space, this property offers a versatile layout perfect for a variety of commercial uses. The interior features two dedicated office areas, a restroom, and ample open space, providing flexibility for different business needs. Significant storage is also available within the main floor area, addressing a key requirement for many businesses. Adding to its practicality, the property includes a substantial 1,600+ square foot basement, offering additional storage or potential for expansion. The building sits on a conveniently sized 0.05-acre lot, providing sufficient space for operations and potentially outdoor activities. The asking price of $70,000 represents a compelling investment opportunity in a desirable location. This property is ready for a new owner to bring their vision to life and capitalize on its considerable potential. The building's vintage charm combined with its functional layout and substantial space makes it an attractive option for entrepreneurs and established businesses alike. Its central Decatur location ensures high visibility and accessibility, making it an ideal choice for those seeking a thriving commercial environment. Don't miss this chance to acquire a well-positioned and versatile commercial property.

• CAP approach

  CAP return

  Valuation

  6%

  $335,230

  6.5%

  $309,443

  7%

  $287,340

• Comparable approach

  Method

  Valuation

  Relative Method

  $287,852

  Geo Method

  $287,852

• Alternative Use

  Use

  Valuation

  Residential

  $383,710

  Hospitality

  $351,476

  Educational

  $292,424

  Medical

  $302,481

  Retail

  $454,882

Location Insight

City

Decatur

County

Van Buren

State

Michigan

Latitude

42.1083

Longitude

-85.9735

CBSA code

28020

CBSA name

KALAMAZOO-PORTAGE, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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