33 Saginaw St Pontiac, MI 48342

Property Details for 33 Saginaw St

Year built

1920

Lot size

0.06 lot acres

Property size

3,710 SF

Zone code

BI

Property type

Retail space

APN

64-14-29-433-014

APU

641429433014

Description

This 7,500 square foot creative office building in Pontiac, Michigan, presents a compelling investment opportunity. Located at 33 N Saginaw St, 48342, this property boasts a current NOI of $32,000, yielding a 6.40% cap rate, and an asking price of $500,000. However, a pro-forma NOI of $44,000 projects a significantly higher 8.80% cap rate, highlighting the substantial upside potential. The main floor currently functions as office space, providing immediate rental income or a ready-to-use workspace. A complete renovation in 2018 installed brand-new mechanical systems throughout the building, preparing the upper two floors for conversion. These floors are ready for build-out, offering the possibility of creating residential units or additional commercial space. The existing infrastructure and the potential for a private rooftop deck add to the property's appeal. This well-maintained building in a vibrant location offers a unique chance to create a profitable venture, whether through rental income or personal use. The property's strong foundation and significant potential make it an exceptional investment opportunity. This is a rare chance to acquire a property with immediate income and substantial future growth potential in a desirable location.

Location Insight

City

Pontiac

County

Oakland

State

Michigan

Longitude

-83.2927

Latitude

42.6377

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments