16 Lawrence St Pontiac, MI 48342
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 16 Lawrence St
- Property type
- Commercial real estate
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pontiac
- County
- Oakland
- State
- Michigan
- Longitude
- -83.2913817
- Latitude
- 42.6376264
