405 4Th StBlanchard, MI 49310

Property Details for 405 4Th St

Lot size

3.44 AC

Property type

Commercial real estate

APN

12-050-32-041-00

APU

120503204100

Description

This exceptional 33,000 square foot property located at 405 S. Fourth Street in Blanchard, Michigan, presents a unique redevelopment opportunity. Situated on a generous 4.6-acre lot, this former elementary school, closed in 2008, offers endless possibilities for adaptive reuse. The building's substantial size and versatile layout provide ample space for a variety of projects. Potential uses could include a community center, technical school, nursing facility, assisted living facility, museum, library, daycare center, or self-storage facility. The gymnasium, while showing its age, remains largely functional, featuring bleachers, basketball hoops, and a scoreboard. Some areas, including former offices and a lounge, previously had air conditioning. Prospective buyers should be aware that a mold evaluation has been previously conducted, and evidence of mold is present within the building. Any and all necessary inspections and evaluations are the responsibility of the purchaser, subject to the seller's consent. The property is priced affordably at $50,000, making it an attractive investment for developers seeking a substantial footprint in a desirable location. The property's address is 405 4th St, Blanchard, MI 49310. This is a rare chance to acquire a significant property with immense potential in Isabella County.

• CAP approach

  CAP return

  Valuation

  6%

  $26,291,800

  6.5%

  $24,269,400

  7%

  $22,535,800

• Comparable approach

  Method

  Valuation

  Relative Method

  $19,517,400

  Geo Method

  $19,517,400

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $47,143,700

  Retail / Commercial

  $24,299,800

  Mixed-Use / Specialty

  $24,311,400

  Hospitality / Lodging

  $17,964,500

  Office

  $24,269,400

  Institutional / Educational

  $25,309,200

  Residential Income

  $29,611,800

  Multifamily

  $34,969,900

  Automotive / Energy

  $21,693,600

  Parking / Income-Based Land

  $7,389,090

  Restaurant / Food Service

  $12,854,300

  Healthcare / Senior Housing

  $24,830,100

Location Insight

City

Blanchard

County

Isabella

State

Michigan

Latitude

43.5174

Longitude

-85.0767

CBSA code

34380

CBSA name

MOUNT PLEASANT, MI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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