80820 Main StMemphis, MI 48041

Property Details for 80820 Main St

Year built

1900

Lot size

0.06 AC

Property size (Sq ft)

1,242 SF

Zone code

RETAIL < 5K S

Property type

Retail properties

Property subtype

Retail space

APN

04-03-02-201-008

APU

40302201008

Description

This 1,242 square foot industrial storefront is located at 80820 Main Street in the heart of downtown Memphis, Michigan, on busy M19. The all-brick building boasts a newer roof, furnace, and air conditioning system, ensuring efficient and comfortable operation. A newer commercial hood fan is already installed, presenting a significant advantage for food-related businesses. The property offers numerous investment or business possibilities, with ample space for a variety of ventures. There is currently no direct competition in Memphis for businesses such as pizzerias, coffee shops, breakfast diners, or other eateries. The building includes a partial basement, providing additional storage or workspace, and features two bathrooms for convenience. Access is provided via both front and rear entrances. The 0.06-acre lot offers convenient access and visibility. The property is available for purchase at $120,000 and is also available for lease at $1,500 per month with land contract terms. This is a rare opportunity to establish a business in a thriving downtown location with minimal competition. The combination of a well-maintained building and a prime location makes this an exceptional investment prospect.

• CAP approach

  CAP return

  Valuation

  6%

  $379,727

  6.5%

  $350,517

  7%

  $325,480

• Comparable approach

  Method

  Valuation

  Relative Method

  $292,765

  Geo Method

  $292,765

• Alternative Use

  Use

  Valuation

  Residential

  $295,675

  Hospitality

  $270,836

  Educational

  $225,333

  Medical

  $233,082

  Retail

  $350,517

Location Insight

City

Memphis

County

Macomb

State

Michigan

Latitude

42.8959

Longitude

-82.7687

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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