Fully Renovated Corner Commercial
W 111 W Genesee Street Unit SourceFi Lapeer, MI 48446
W 111 W Genesee Street Unit SourceFi, Lapeer, MI, 48446
$549,900
For Sale
$549,900
Turnkey, fully renovated building with updated electrical, HVAC, plumbing, flooring, lighting, and fixtures.
Property Size4,700 SF
Price / SF$117
Days on Market167
Property Features for W 111 W Genesee Street Unit SourceFi
General Information
- Standard status
- Active
- Size
- 4,700 SF
- Property subtype
- Industrial
Listing Agency
NextHome Aegis Properties
(248) 378-4079
Listed by
Craig Kallen
(248) 378-4079
Source
Xome
Added: Feb 3 Checked: Jul 19 at 2:01 am
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 NextHome Aegis Properties
Investment Insights
Based on property information with market context.
Fully renovated commercial building offering a move-in-ready interior with updated electrical, HVAC, plumbing, flooring, lighting, and fixtures throughout. The property is configured as a single commercial building totaling 4,700 SF and is described as flexible for a range of specialty uses.
Located on a prominent corner in downtown Lapeer with nearby public and street parking. The remarks indicate close access to I-69 and M-24 and major regional corridors.
The property is presented with flexible commercial zoning intended to support a broad range of uses, with the seller also referencing retail, office, medical, wellness, tech, and specialty-use businesses as applicable options.
Located on a prominent corner in downtown Lapeer with nearby public and street parking. The remarks indicate close access to I-69 and M-24 and major regional corridors.
The property is presented with flexible commercial zoning intended to support a broad range of uses, with the seller also referencing retail, office, medical, wellness, tech, and specialty-use businesses as applicable options.
Key Highlights
- Fully renovated 4,700 SF commercial building with updates completed in 2019
- Renovations include updated electrical, HVAC, plumbing, flooring, lighting, and fixtures throughout
- Prominent corner location in downtown Lapeer with nearby public and street parking
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 | $56.4k | $12.00 |
| − Vacancy | −$10.1k | −$2.15 |
| EGI | $46.3k | $9.85 |
| − OpEx | −$13.9k | −$2.96 |
| NOI | $32.4k | $6.90 |
4,700 SF · lease $12.00/SF/yr · vacancy 17.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$463.0K
$405.2K – $540.2K
NOI $32,413 @ 7.0% cap · market cap 5.89%
Second Best
Office B
$231.1K
$202.3K – $269.7K
NOI $16,180 @ 7.0% cap · market cap 2.94%
Theoretical Best
Healthcare Medical
$769.7K
$673.5K – $898.0K
NOI $53,877 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
FAQs
What type of property is this?
Storefront property - Turnkey, fully renovated building with updated electrical, HVAC, plumbing, flooring, lighting, and fixtures.
Where is this storefront property located?
The property is located at W 111 W Genesee Street Unit SourceFi Lapeer, MI.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Fully renovated 4,700 SF commercial building with updates completed in 2019; Renovations include updated electrical, HVAC, plumbing, flooring, lighting, and fixtures throughout; Prominent corner location in downtown Lapeer with nearby public and street parking
