Downtown Bay City-Two Story Building of 30,000 SF

Retail-Commercial for Sale
Also listed as Office, Multi-Family
Catylist Listing ID: 3318628
Property Subtypes: Free-Standing Building, Mixed Use, Other
Building Size (RSF): 30,000 SF
Gross Building Area: See Agent
Gross Land Area: 0.51 Acres
Sale Price: $175,000
Unit Price: $5.83 PSF
Property Use Type: Investment, Vacant/Owner-User, Business
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 8/18/2017

Overview / Comments

This building is located on a highly visible corner of downtown Bay City across from the post office, police department and adjacent to the court system. The original 10,000 SF per floor was built in 1910 with an additional 5,000 SF per floor built in 1995. A very clean and solid structure with open floor space for a multitude of uses. This building is equipped with single and three phase electric, new rubber roof installed in 2009, 6,000 lb. freight elevator, overhead doors on the north and east side of building, on-site designated parking and street parking, alley access and much more. Approximately 3,000 SF of office space is currently built out consisting of six offices, conference room and storage areas. There is also a partial basement with a rubber membrane floor. A MUST SEE!!

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $3,295 (Annual)
Tax Value Land $105,289
Assessed Value - Total($) $105,850 (Annual)
Finance Data Year 2016
Real Estate Taxes - Annual($) $3,317 (Annual)
Tax Value Land $104,350
Assessed Value - Total($) $104,350 (Annual)
Finance Data Year 2015
Real Estate Taxes - Annual($) $10,027 (Annual)
Tax Value Land $133,500
Assessed Value - Total($) $133,500 (Annual)

Additional Details

Nearest MSA: Bay City
County: Bay
Tax ID/APN: 160-021-329-004-00
Zoning: C-3
Market Type: Medium
Retail Clientele: General, Family, Business, Other
Property Located Between: Washington and Madison
Side of Street: North
Road Type: Paved
Property Visibility: Good
Largest Nearby Street: Washington
Feet of Frontage: 200
Area Description: Commercial/retail area with post office to the south and bus station to the north. This site is situated between the Federal and District court systems. Walking distance to a variety of shops, restaurants and downtown/Saginaw River events.
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 15,000 SF
Property Condition: Good
Year Built: 1910
Year Renovated: 1995
Roof Type: Flat
Construction/Siding: Concrete
Exterior Description: See attached photos.
Total Parking Spaces: 12
Parking Type: Surface
Parking Description: There is a designated parking area on the north side of the building which accommodates 10-15 vehicles in addition to street parking on the east and south sides.
Heat Source: Ceiling Units
Air Conditioning: Engineered System
Interior Description: Clean with three stairwells and open space for many type uses or renovation.
Zoning Description: C-3 Central Business District is intended to offer a variety of commercial, office, civic, cultural, entertainment, recreational, residential and tourism-oriented uses in a compact, high density urban downtown environment. Residential development, particularly on the upper floors of retail and office buildings is encouraged in this district.
Lot Frontage: 200
Lot Depth: 110
Land Ownership: owned
Legal Description: LOTS 3 & 4 BLK 27 LOWER SAGINAW & E 1/2 VAC ALLEY ADJ THRT LOTS 5 & 6 & E 1/2 VAC ALLEY BLK 27 LOWER SAGINAW

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,754 60,872 73,063
Median Age: 33.98 40.17 40.95
Households: 5,344 25,608 30,784

Contact

Photograph of Listing Agent

Sandra J. Covaleski, CCIM

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