Decatur Mixed Retail/Apartments

Retail-Commercial for Sale
Catylist Listing ID: 30081669
Property Subtypes: Free-Standing Building, Mixed Use
Building Size (RSF): 6,400 SF
Gross Land Area: 0.50 Acres
Sale Price: $129,000
Unit Price: $20.16 PSF
Property Use Type: Investment
Usable Size (USF): 6,400 SF
Sale Terms: Cash to Seller
Cap Rate: 9.4%
Average Occupancy Rate: 100
Last Updated: 8/14/2018

Overview / Comments

Seller will consider all offers. There are 3 apartment on the upper level of the building, and 3 retail/commercial units on the street level with 26 parking spaces. The apartments have been updated and all of the units are currently leased. Note that Unit #1 was previously a Restaurant. The retail units have basements for storage.

Additional Details

Nearest MSA: Kalamazoo-Portage
County: Van Buren
Taxing Authority: Village of Decatur
Tax ID/APN: 804304029411
Retail Clientele: Business
Property Visibility: Excellent
Largest Nearby Street: M-51
Highway Access: I-94
Area Description: Located in Downtown Decatur
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 3,200 SF
Property Condition: Good
Year Built: 1995
Roof Type: Gable
Construction/Siding: Vinyl Siding
Total Parking Spaces: 26
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Radiant
Air Conditioning: Package Unit
Zoning Description: Commercial
Lot Frontage: 140'
Lot Depth: 165'
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,528 7,596
Median Age: 39.94 41.18
Households: 1,748 2,906
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