1406 Biddle St Wyandotte, MI 48192
- Industrial properties
- 7,948 SF
- 0.40 lot acres
Current Use by Public Records
- Industrial properties
Property Details for 1406 Biddle St
- Year built
- 1920
- Lot size
- 0.40 lot acres
- Property size
- 7,948 SF
- Property type
- Industrial properties
Description
This exceptional mixed-use property in Wyandotte, MI, presents a compelling investment opportunity. The 7,948 square foot building sits on a 0.4-acre lot and features five distinct units, offering a blend of commercial and residential income streams. The ground floor comprises three commercial suites, ideal for medical or professional offices. Suite 1 boasts two bathrooms, five patient rooms with sinks, a break room, and two private offices. Suite 2 includes four patient rooms, one bathroom, one office, and a spacious reception area. Suite 3 offers four large offices, a reception area, a bathroom, and a conference room. Three additional office spaces are located in the lower level. Upstairs, two one-bedroom apartments (1,717 sq ft total) provide residential income. Currently, two commercial units are available for lease, one at $1,600 per month and the other at $185 per month. Three units are currently occupied: one commercial unit at $1,300 per month, and two residential units at $950 and $1,000 per month respectively. Month-to-month leases allow for flexibility post-closing. The building, less than 20 years old, offers significant upside potential with a projected 10-15% capitalization rate. Its central Wyandotte location ensures strong tenant demand and easy access to amenities. This property represents a rare chance to acquire a well-established, high-return investment in a thriving community.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wyandotte
- County
- Wayne
- State
- Michigan
- Longitude
- -83.1509
- Latitude
- 42.2192
