117 Phelps StDecatur, MI 49045

Property Details for 117 Phelps St

Year built

1955

Lot size

0.10 AC

Property size (Sq ft)

1,720 SF

Property type

Retail space

APN

80-43-040-248-00

APU

804304024800

Description

This 1,288 square foot commercial building presents a unique opportunity for entrepreneurs seeking a prime location in Decatur, Michigan's vibrant downtown area. Situated on a 0.05-acre lot at 117 S Phelps Street, this property offers a blank canvas for your business vision. The building features large, open rooms perfect for a variety of commercial uses, complemented by smaller, private rooms in the rear, providing flexibility for different operational needs. The "as-is" sale condition allows for complete customization and renovation to suit your specific requirements. This is a chance to establish your business in a charming, established community with significant potential for growth. The property's central location offers excellent visibility and accessibility, making it an attractive option for a wide range of commercial ventures. Don't miss this chance to secure a foothold in the heart of Decatur. The asking price is $10,000. Act quickly to capitalize on this exceptional opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $383,506

  6.5%

  $354,005

  7%

  $328,719

• Comparable approach

  Method

  Valuation

  Relative Method

  $564,556

  Geo Method

  $564,556

• Alternative Use

  Use

  Valuation

  Residential

  $298,617

  Hospitality

  $273,531

  Educational

  $227,575

  Medical

  $235,401

  Retail

  $354,005

Location Insight

City

Decatur

County

Van Buren

State

Michigan

Latitude

42.1091

Longitude

-85.975

CBSA code

28020

CBSA name

KALAMAZOO-PORTAGE, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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