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Property profile & analytics
OFF-MARKET
Commercial real estate

256 Grand Riv Rd Laingsburg, MI 48848-8600

Built 1890
Individually Owned 7-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US43-2044407
Property summary
AI-generated overview

This exceptional investment opportunity presents a fully leased, mixed-use property situated in the charming downtown area of Laingsburg, Michigan. The property encompasses a 0.07-acre lot and includes two distinct income-generating units. The first unit is a spacious three-bedroom apartment, approximately 1700 square feet, boasting recent updates including a remodeled bathroom (2015) and new carpeting (2018). This apartment commands a monthly rent of $900. The second unit, currently occupied by Spirit Expressions Dance, offers approximately 1900 square feet of commercial space and generates a monthly rent of $725. The building has been meticulously maintained and updated by the long-term owners, evident in the pride of ownership reflected throughout. Significant improvements include a new furnace and AC unit (September 2019), a roof replacement (March 2021), and rear siding replacement (2014). The property is being sold as a package with the adjacent property at 260 E Grand River Road due to a shared commercial tenant on the first floor. This turnkey investment offers a strong return on investment with long-term tenants in place, making it an ideal addition to any portfolio. Note that square footage is approximate.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1890
APN 022-40-010-003-00
UPID US43-2044407
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Raymond James Financial Services Financial Advisor
  • Spirit Expressions Studio Training Center
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Lan Tee Dev · 7 yrs held
Lan Tee Dev
since 2018
2 recorded transactions
2018
Price N/A
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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