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    68074 Main St Richmond, MI 48062

    Sponsored
    For Sale
    $269,999

    Historic building, strong rental income, immediate return.

    Property size:
    4,144 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional 4,144 square foot industrial property located at 68074 S Main, Richmond, MI, presents a unique investment opportunity. Currently leased to a thriving antique market and furniture retailer on a long-term agreement, this property guarantees immediate and consistent rental income. The building, situated on a 0.28-acre lot, boasts a rich history, having previously served as a successful music studio. The main level is beautifully appointed with multiple rooms, currently subleased to various antique vendors. The upper level offers significant untapped potential for expansion or additional rental income. A large, dry basement is currently used for cold storage by a neighboring business, generating supplemental revenue. The property includes a private parking lot, adding to its convenience and appeal. Offered at $269,999, this well-maintained building represents a chance to acquire a landmark property with a proven track record of success in a vibrant community. Its established tenancy and diverse income streams make it an attractive investment for discerning buyers seeking a stable and profitable venture. The property's history and current use combine to create a unique and compelling investment opportunity. Don't miss this chance to own a piece of Richmond's commercial history.

    Property Features for 68074 Main St

    General Information

    Property type
    Industrial properties
    Square Feet
    4,144 SF
    Lot Size
    12,197 SF

    Building Details

    Year Built
    1905
    Property Profile Location Intelligence

    Current Use by Public Records

    Industrial properties

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Macomb
    State
    Michigan
    Longitude
    -82.74937
    Latitude
    42.80292

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    FAQs

    What type of property is this?
    Industrial property - Historic building, strong rental income, immediate return.
    Where is this industrial property located?
    The property is located at 68074 Main St Richmond, MI.
    What is the asking price?
    The asking price for this property is $269,999.
    (586) 949-8300
    Request Owner's contact information
    68074 Main St Richmond, MI 48062
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    Richmond, MI 48062
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    68074 Main St Richmond, MI 48062
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