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    1033 Barkell St Pontiac, MI 48340

    For Sale
    $450,000

    Former school, 38,976 sq ft, 4.59 acres

    Property size:
    38,976 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This 38,976 square foot, two-story former elementary school, built in 1944 and renovated in 1956, sits on a 4.59-acre lot in Pontiac, Michigan. Currently vacant, the property requires significant redevelopment. The building, constructed of brick and concrete, features a large gymnasium, performance space, locker rooms, shower rooms, a full kitchen/cafeteria, over 20 classrooms, and several smaller offices. While the building has sustained vandalism and fire damage, including broken windows, it is considered structurally sound (though no formal assessment has been conducted). The property includes 150 surface parking spaces (3.85 per 1,000 sq ft). Zoned ME (R1), it offers significant redevelopment potential. The location is highly desirable, directly across from the General Motors Propulsion Systems World Headquarters on Joslyn Avenue, near I-75, and close to other major employers including Amazon, Lee Contracting, and United Shore Mortgage. The property's original fixtures and equipment remain. The parcel ID is 64-14-16-451-012. Asking price is $450,000.

    Property Features for 1033 Barkell St

    General Information

    Property type
    Multifamily properties
    Square Feet
    38,976 SF
    Class
    C
    Lot Size
    199,940 SF

    Building Details

    Year Built/Renovated
    1944/1956
    Buildings
    1
    Stories
    2
    Units
    1

    HighLights

    • Excellent redevelopment opportunity for senior housing, multifamily, or mixed‑use commercial/medical office.
    • Former Labaron Elementary School building.
    • Prime location on Joslyn Avenue, between 1st Avenue and East Beverly Avenue.
    • 4.59‑acre site.
    • Building constructed in 1944, renovated in 1956.
    • R1 zoning.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Pontiac
    County
    Oakland
    State
    Michigan
    Longitude
    -83.277777
    Latitude
    42.6665355

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    FAQs

    What type of property is this?
    Multifamily property - Former school, 38,976 sq ft, 4.59 acres
    Where is this multifamily property located?
    The property is located at 1033 Barkell St Pontiac, MI.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Excellent redevelopment opportunity for senior housing, multifamily, or mixed-use commercial/medical office.; Former Labaron Elementary School building.; Prime location on Joslyn Avenue, between 1st Avenue and East Beverly Avenue.
    Request Owner's contact information
    1033 Barkell St Pontiac, MI 48340
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    Pontiac, MI 48340
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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
    1033 Barkell St Pontiac, MI 48340
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