119 Lake St, Oscoda, MI 48750
This exceptional commercial property presents a unique investment opportunity in Oscoda, Michigan. The former school building, situated on a 0.9-acre lot at 119 N Lake St, boasts a substantial 44,000 square feet of space, divided equally between two 22,000 square foot floors. Its prime location just off US-23 (State St) ensures high visibility and accessibility. The property's proximity to Lake Huron, less than a quarter-mile away, offers significant potential for tourism-related ventures. The asking price is $199,000. Given its size and location, this property is ideally suited for a variety of adaptive reuse projects. Potential uses could include affordable housing development, conversion into condominiums, or the creation of a hotel. The substantial square footage provides ample space for a large-scale project, while the attractive price point makes it a compelling investment. The property is zoned for commercial use and is ready for its next chapter. This is a rare opportunity to acquire a significant property in a desirable location at an attractive price. Serious inquiries are encouraged. The property is located in Iosco County, Michigan, zip code 48750.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.