Mixed-Use Investment with
204 E Grand River Ave Fowlerville, MI 48836
204 E Grand River Ave, Fowlerville, MI, 48836
$225,000
Pending
For Sale
$225,000
Pending
Two remodeled storefronts plus a two-bedroom apartment provide multiple leased income streams in one property.
Property Size1,900 SF
Days on Market49
Property Features for 204 E Grand River Ave
General Information
- Standard status
- Pending
- Size
- 1,900 SF
- Property subtype
- Commercial
Listing agency
Harmon Real Estate LLC
(517) 223-9193
Listed by
Paul J Harmon · License #6501275047
(517) 223-9193
Source
Elliman
Added: Jun 3 Updated: Jul 10 at 1:49PM Checked: Jul 20 at 4:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Harmon Real Estate LLC
Investment Insights
Based on property information with market context.
This mixed-use investment property includes two commercial storefront units and one two-bedroom residential apartment. The two storefront spaces each offer just over 600 square feet and feature large, front-facing windows for storefront exposure. The residential unit is approximately 850 square feet and provides a spacious two-bedroom layout. The commercial spaces were extensively remodeled in 2020. Tenants are responsible for their own utilities, while the owner currently provides water and sewer service.
Located just one block off the Grand River/Main Street corridor, the building is positioned for visibility in a high-traffic retail and service area. The property is described as being near downtown amenities, major traffic routes, and local businesses, supported by the site’s walk and bike accessibility metrics.
For buyers seeking a turnkey setup, all units are currently leased with established tenants in place. The combination of storefront and residential income can appeal to investors looking for a multi-unit structure within a single ownership, with a clear utility responsibility split between tenants and the owner.
Located just one block off the Grand River/Main Street corridor, the building is positioned for visibility in a high-traffic retail and service area. The property is described as being near downtown amenities, major traffic routes, and local businesses, supported by the site’s walk and bike accessibility metrics.
For buyers seeking a turnkey setup, all units are currently leased with established tenants in place. The combination of storefront and residential income can appeal to investors looking for a multi-unit structure within a single ownership, with a clear utility responsibility split between tenants and the owner.
Key Highlights
- Mixed‑use property with three income‑producing, currently leased units
- Two commercial storefronts, each a little over 600 SF, with large front‑facing windows
- Residential unit: spacious 2‑bedroom apartment at approximately 850 SF
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.2k | $18.00 |
| − Vacancy | −$6.1k | −$3.22 |
| EGI | $28.1k | $14.78 |
| − OpEx | −$8.4k | −$4.43 |
| NOI | $19.7k | $10.34 |
1,900 SF · lease $18.00/SF/yr · vacancy 17.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$280.8K
$245.7K – $327.6K
NOI $19,655 @ 7.0% cap · market cap 8.74%
Second Best
Apartment 5plus
$227.3K
$198.9K – $265.2K
NOI $15,913 @ 7.0% cap · market cap 7.07%
Theoretical Best
Healthcare Medical
$302.6K
$264.8K – $353.1K
NOI $21,185 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Walker Linda C
Law Firm
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FAQs
What type of property is this?
Mixed-use property - Two remodeled storefronts plus a two-bedroom apartment provide multiple leased income streams in one property.
Where is this mixed-use property located?
The property is located at 204 E Grand River Ave Fowlerville, MI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Mixed‑use property with three income‑producing, currently leased units; Two commercial storefronts, each a little over 600 SF, with large front‑facing windows; Residential unit: spacious 2‑bedroom apartment at approximately 850 SF
