Imlay City Multi Tenant Commercial

Office for Sale
Catylist Listing ID: 30262465
Property Subtypes: Mixed Use, Office Building
Building Size (RSF): 4,707 SF
Gross Land Area: 9,100 SF
Sale Price: $310,000
Unit Price: $65.86 PSF
Ceiling: 10 ft.
Property Use Type: Investment, Vacant/Owner-User
Building Name: Former Capac Bank Branch
Class of Space: Class B
Usable Size (USF): 4,707 SF
Sale Terms: Cash to Seller
Cap Rate: 9.0%
Average Occupancy Rate: 50
Last Updated: 4/17/2018

Overview / Comments

The building is the former Lakestone Bank branch located in the CBD of Imlay City. The building was constructed in the late 1990's and has the potential for 3 units with the former branch occupying approximately 50% of the building and a former dental office and general office in the other two units. Municipal parking is adjacent to the building and there is a drive up window/canopy. The building has a total area of 4,707 square feet with approximately 4,400 square feet of net rentable area. The building is of wood frame construction with brick veneer. Access is provided for each unit. Each unit has a separate bath and plumbing as well as HVAC units. The building is currently vacant and available for any potential users.

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Lapeer
Taxing Authority: City of Imlay City
Tax ID/APN: I19-60-900-000-10
Zoning: B-2, CENTRAL BUSINESS
Property Located Between: SEC of Almont Avenue and 4th Street
Property Visibility: Excellent
Highway Access: 4 blocks west of Van Dyke (M-53) approximately 1 mile north of I-69
Site Description: The site has a total area of approximately 9,100 square feet with curbside parking on Almont Ave. and municipal parking adjacent to the east.
Area Description: The property is located in the CBD of Imlay City with mixed commercial uses in the immediate area. Retail, service and offices are located in the CBD as well as restaurants, municipal buildings and other uses.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 4,707 SF
Year Built: 1998
Roof Type: Hip
Construction/Siding: Brick
Exterior Description: Wood frame structure with brick veneer, aluminum and glass entry doors and wood frame, thermal pane windows. The composite shingle roof is in good condition and the building has been very well maintained.
Parking Type: Surface
Parking Description: Municipal lot located to the east and curb side parking on Almont Ave.
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Interior Description: The interior is currently divided into 3 units with the main unit comprising approximately 50% of the building area and the other units being of approximately the same size. The interior is finished with drywall on studded walls, wood frame wood interior doors, floor coverings are a combination of carpet, ceramic and vinyl tile. Lighting is primarily recessed fluorescent fixtures and incandescent fixtures. The interior has been well maintained and is in move in condition.
Zoning Description: The property is zoned commercial and any retail, office, restaurant or service business is allowable.
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,597 8,641 11,392
Median Age: 33.17 37.42 38.6
Households: 1,356 3,160 4,152

Contact

Photograph of Listing Agent

Douglas Hodge

Capstone Realty Resources
CPIX Member
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