455 Main StLapeer, MI 48446

Property Details for 455 Main St

Year built

1900

Lot size

0.24 AC

Property size (Sq ft)

1,344 SF

Zone code

B2 GEN

Property type

Retail properties

Property subtype

Retail space

APN

L21-54-300-040-00

APU

L215430004000

Description

This exceptional commercial property, located at 455 S Main Street in Lapeer, Michigan, presents a lucrative investment opportunity. Priced at $499,900, this 1,844 square foot building sits on a 0.3-acre lot with excellent visibility. Boasting approximately 74 feet of frontage along S. Main Street and a 74x290 foot rectangular layout, the property offers ample space and high exposure. Currently housing a law firm, the flexible layout is ideal for a variety of commercial uses, including but not limited to, real estate offices, mortgage companies, or other professional services. The C Commercial District (B2 GENERAL) zoning allows for diverse commercial developments. Municipal utilities, including electricity, telephone, and natural gas, are readily available. A gravel parking lot provides convenient parking for employees and clients. The property is identified as L21-54-300-040-00 and is subject to certain easements and restrictions, unless waived by the owner. This prime location in the heart of Lapeer offers a unique chance to establish or expand a successful business. Don't miss this opportunity to own a highly visible and versatile commercial property in a thriving Michigan community.

• CAP approach

  CAP return

  Valuation

  6%

  $338,213

  6.5%

  $312,196

  7%

  $289,896

• Comparable approach

  Method

  Valuation

  Relative Method

  $316,809

  Geo Method

  $316,809

• Alternative Use

  Use

  Valuation

  Residential

  $263,349

  Hospitality

  $241,226

  Educational

  $200,698

  Medical

  $207,600

  Retail

  $312,196

Location Insight

City

Lapeer

County

Lapeer

State

Michigan

Latitude

43.046

Longitude

-83.3188

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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