Building Details

Buildings 1

Tenancy Multi

Listing Agency: RE/MAX Real Estate Professionals a***@remaxlansing.com Show Phone

Listed By: Mario R Baldino · License #6501415320 Show Phone

Source: Exprealty

Added: Sep 29 Changed: Oct 3 Last Checked: Oct 5 at 9:43PM

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Investment Insights

Based on property information with market context.

This downtown storefront property has two commercial suites on the main level, with hardwood flooring and broad storefront areas. A basement provides more than 1,000 square feet of usable space and may serve as storage or a potential third suite. One suite has an established tenant; the other is available for occupancy or leasing.

The building occupies the corner of Bridge Street and Main Street in DeWitt, Michigan. Its brick exterior and street-facing storefronts address both commercial streets.

Key Highlights

• Two commercial suites on the main level, including one with an established tenant
• Basement offers more than 1,000 square feet of usable space
• Available corner suite includes over 1,700 square feet of storefront area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$46,896

Cap Rate

6.70%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$937,920 $937.9K

Cap Rate 7%

$669,943 $669.9K

Cap Rate 9%

$521,067 $521.1K

Market Conditions

NOI Build-Up for 4,200 SF

Gross rent

$83.2K $19.80/SF

− Vacancy

−$16.2K −$3.85/SF

EGI

$67.0K $15.95/SF

− OpEx

−$20.1K −$4.79/SF

NOI

$46.9K $11.17/SF

Area

Clinton County, MI

Vacancy

19.44%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$937,920

Cap Rate 7%

$669,943

Cap Rate 9%

$521,067

Alternative Uses

Best Use

Retail

$669.9K

$586.2K – $781.6K (±1% cap)

NOI $46,896 @ 7.0% cap · market cap 6.70%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$854.9K

$748.0K – $997.4K (±1% cap)

NOI $59,842 @ 7.0% cap · market cap 8.55%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Touchstone Pottery Big Box & Wholesale Store Santorini Salon Hair Salon Freshies Bakery Bakery Touchstone Distributing Big Box & Wholesale Store

Suggested Use

Top Pick Real Estate Agency Dental Office Spa & Massage Center Electrical Service Restaurant Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

240

Businesses Nearby

1k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 100%

Hungry Howie's Pizza Dining

1,456 visits/mo 0.0 miles

Demographics for 48820, MI

17,944

Population

7,002

Households

2.6

Avg Household Size

41

Median Age

45%

College-Educated

97%

High-School Grad

65.8 sq mi

ZIP Area

273

Density / Sq Mi

$106,651

Median Household Income

$60,611

Median Earnings

$1,098

Median Rent

$318,400

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Two ground-floor suites and a separate basement provide a flexible commercial layout in downtown DeWitt.

Where is this storefront property located?

The property is located at 103 S Bridge St Dewitt, MI.

What is the asking price?

The asking price for this property is $699,900.

What are key features of this property?

This property features: Two commercial suites on the main level, including one with an established tenant; Basement offers more than 1,000 square feet of usable space; Available corner suite includes over 1,700 square feet of storefront area