The Paterson Building

Office for Sale
Catylist Listing ID: 30163343
Property Subtypes: Office Building, Other
Building Size (RSF): 30,000 SF
Gross Building Area: See Agent
Gross Land Area: 0.24 Acres
Sale Price: $850,000
Unit Price: $28.33 PSF
Ceiling: 8 ft.
Property Use Type: Investment
Building Name: The Paterson Building
Class of Space: Class C
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/19/2017

Overview / Comments

The Paterson Building is a beautiful example of preserved history in downtown Flint with its Art Deco style and gorgeous masonry. Originally constructed in 1931, the building has been very well maintained and is currently 85% occupied. The Paterson Building is a mix of first floor retail spaces and second & third floor offices, largely occupied by lawyers and business professionals. Lower level parking garage offers additional income with parking attendant overseeing 45 spaces. This building offers a rare opportunity to own a historically prominent building in the heart of downtown Flint with immediate rental income. Call for more information or to schedule a showing.

Additional Details

Nearest MSA: Flint
County: Genesee
Tax ID/APN: 41-18-117-011
Property Located Between: Corner of Saginaw & Third
Property Visibility: Excellent
Area Description: In the heart of Flint by many restaurants and shops.
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 10,000 SF
Year Built: 1931
Year Renovated: 1970
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Beautiful art deco exterior, brick with masonry & terracotta accents
Parking Type: Underground
Parking Description: 45 spaces in underground parking garage. Parking garage has sprinkler system
Total Parking Spaces: 45
Passenger Elevators: 1
Freight Elevators: 1
Heat Type: Hot Water
Heat Source: Central
Air Conditioning: Package Unit, Window Unit
Interior Description: Well maintained building, was updated with marble wainscoting in the 70s. Main floor has decorative stair railing at entry, art deco feeling.
Lot Frontage: 155
Lot Depth: 74
Water Service: Municipal
Sewer Type: Municipal
Legal Description: VILLAGE OF FLINT RIVER LOT 9 AND THE S 4 FT OF E 90 FT OF LOT 7, BLK 3.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,020 106,233 182,356
Median Age: 35.64 34.48 36.15
Households: 3,242 42,576 72,842

Contact

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