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    16 Lawrence St Pontiac, MI 48342

    Sponsored
    For Sale
    $750,000

    Fully Leased, Gut Rehabbed Building

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property in Pontiac, Michigan, presents a compelling redevelopment investment opportunity. Located at 16 E Lawrence St, 48342, this Class C building boasts a complete gut rehabilitation, resulting in a fully leased and stabilized asset with a 100% occupancy rate. The $750,000 asking price yields a 5.87% cap rate and a net operating income (NOI) of $44,000. The extensive renovations include a new roof, a completely overhauled boiler system with updated controls, a new security camera system, and blown-in insulation for enhanced energy efficiency. New front and side doors, vertical plumbing, appliances, kitchen cabinets, and restrooms have been installed throughout. Refined hardwood floors add to the property's appeal. The building's diverse tenant mix comprises two ground-floor retail spaces and four residential units upstairs, creating a balanced income stream and mitigating risk. This turnkey investment offers immediate cash flow and strong, dependable returns. The property includes a complimentary penthouse unit. Matterport 3D models are available for virtual tours. This is a rare opportunity to acquire a meticulously renovated, fully occupied mixed-use building in a prime Pontiac location.

    Property Features for 16 Lawrence St

    General Information

    Property type
    Multifamily properties
    Class
    C

    HighLights

    • Fully leased, Class C mixed‑use building in Pontiac, MI, at 16 E Lawrence St, 48342.
    • $750,000 asking price with a 5.87% cap rate and $44,000 NOI.
    • Recently renovated with new roof, boiler system, security cameras, insulation, doors, plumbing, appliances, cabinets, and restrooms; refined hardwood floors.
    • Turnkey investment with a balanced income stream from two retail spaces and four residential units, plus a penthouse unit; 100% occupancy.
    • Matterport 3D models available for virtual tours.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Pontiac
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2913817
    Latitude
    42.6376264

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    FAQs

    What type of property is this?
    Multifamily property - Fully Leased, Gut Rehabbed Building
    Where is this multifamily property located?
    The property is located at 16 Lawrence St Pontiac, MI.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: Fully leased, Class C mixed-use building in Pontiac, MI, at 16 E Lawrence St, 48342.; $750,000 asking price with a 5.87% cap rate and $44,000 NOI.; Recently renovated with new roof, boiler system, security cameras, insulation, doors, plumbing, appliances, cabinets, and restrooms; refined hardwood floors.
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    Pontiac, MI 48342
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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
    16 Lawrence St Pontiac, MI 48342
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