6449 M 65Lachine, MI 49753

  • Commercial real estate
  • 1.62 AC
For Sale
$395,000 View listing

Property Details for 6449 M 65

Lot size
1.62 AC
Property type
Commercial real estate
APN
023-020-000-279-00
APU
2302000027900

Description

This exceptional 3,000 square foot industrial property, situated on a spacious 1.62-acre lot in Lachine, Michigan, presents a unique investment opportunity. The property includes a fully renovated bar and restaurant, complete with a Class C liquor license, offering immediate income potential. The Alpena County location provides convenient access to a thriving community. Seller financing is available, with terms negotiable to suit your needs. A significant advantage is the inclusion of an attached residence, allowing for owner-occupancy or the potential for additional rental income. The meticulous maintenance and high-quality renovations ensure a seamless operational experience, minimizing upfront costs and maximizing efficiency. No expense was spared in creating a turn-key operation ready for immediate success. The property's combination of commercial and residential space provides flexibility and diverse income streams, making it an attractive option for both seasoned investors and first-time buyers. The property is located in the Alpena area, offering a desirable lifestyle and strong potential for growth. This is a rare opportunity to acquire a well-maintained, income-generating property with significant upside potential. The attached residence adds to the overall value and convenience, making this a truly exceptional investment. Serious inquiries are encouraged.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $13,690,900
    6.5%
    $12,637,800
    7%
    $11,735,100
  • Comparable approach

    Method
    Valuation
    Relative Method
    $6,600,840
    Geo Method
    $6,600,840
  • Alternative Use

    Use
    Valuation
    Industrial / Distribution
    $24,551,400
    Retail / Commercial
    $12,654,300
    Mixed-Use / Specialty
    $12,660,000
    Hospitality / Lodging
    $9,354,440
    Office
    $12,637,800
    Institutional / Educational
    $13,179,500
    Residential Income
    $15,420,000
    Multifamily
    $18,212,200
    Automotive / Energy
    $11,296,700
    Parking / Income-Based Land
    $3,848,140
    Restaurant / Food Service
    $6,693,060
    Healthcare / Senior Housing
    $12,930,500

Location Insight

City
Lachine
County
Alpena
State
Michigan
Latitude
44.9811
Longitude
-83.7485
CBSA code
10980
CBSA name
ALPENA, MI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$2,813
-
-
$88,800
-
-
-
$177,600

FAQs

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