Building Details

Tenancy Multi

Listing Agency: Coldwell Banker Professionals k***@gmail.com Show Phone

Listed By: Robert Kean · License #6506045064

Source: Blueowlprop

Added: May 8 Changed: Aug 29 Last Checked: Aug 25 at 9:43AM

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Investment Insights

Based on property information with market context.

This 1900-built mixed-use property combines a front commercial unit with two residential apartments. The commercial space is leased to the US Post Office under a five-year lease, while the two-bedroom upper and lower apartments are leased month to month. Both apartments are described as well maintained, and residents share a laundry area with washer and dryer hookups.

Property improvements include a new roof on the rear apartment and garage, an upgraded main electrical panel, a new well pump and piping, double windows in the lower apartment, a refrigerator in the upper apartment, brickwork tuck pointing, a 50-gallon water heater, updated restroom fixtures, commercial-grade flooring in the post office, a 30-foot commercial flagpole, and a modern closed-system gas boiler. An attached garage provides storage for lawn equipment, while the rear yard includes a storage shed and views across farm fields.

Key Highlights

• Front commercial unit leased to the US Post Office under a five‑year lease
• Two 2‑bedroom apartments leased month to month
• 1900‑built mixed‑use property with residential and commercial components

Property Analytics

Property Profile

Current Use

United States Postal ... Post Office

Suggested Use

Top Pick Restaurant Bar & Pub

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

100%

Occupancy

Multi-tenant

Tenancy

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

11

Businesses Nearby

Explore this area Business Placement

Demographics for 48454, MI

1,263

Population

515

Households

2.5

Avg Household Size

47

Median Age

16%

College-Educated

89%

High-School Grad

30.2 sq mi

ZIP Area

42

Density / Sq Mi

$62,300

Median Household Income

$47,250

Median Earnings

$694

Median Rent

$177,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Front commercial space is paired with two maintained two-bedroom apartments and shared laundry facilities.

Where is this mixed-use property located?

The property is located at 1296 Main Street Melvin, MI.

What is the asking price?

The asking price for this property is $244,900.

What are key features of this property?

This property features: Front commercial unit leased to the US Post Office under a five‑year lease; Two 2‑bedroom apartments leased month to month; 1900‑built mixed‑use property with residential and commercial components