202 Broad StChesaning, MI 48616

Property Details for 202 Broad St

Year built

1900

Lot size

0.10 AC

Property size (Sq ft)

8,075 SF

Zone code

B-1

Property type

Other commercial real estate

APN

13-09-3-16-0124-000

APU

13093160124000

Description

This exceptional mixed-use property in Chesaning, Michigan, presents a lucrative investment opportunity. Located at 202 W Broad St, 48616, this 10,069 square foot building boasts a strong income stream from multiple revenue sources. The property includes a well-established liquor store with a valuable Saginaw County liquor license (estimated value $250,000) currently owner-operated, a laundromat (also owner-operated), and two apartments. The pharmacy tenant currently pays $1,500 per month in rent, while each apartment generates $450 monthly (below market value). The liquor store and laundromat spaces offer significant upside potential, with estimated rental income of $2,500 and $1,000 per month respectively. The property is currently 80% occupied, offering immediate cash flow and the potential for increased profitability through lease adjustments and full occupancy. The asking price is $890,000, representing an attractive cap rate of 9%. This is a rare opportunity to acquire a multi-faceted commercial property with significant growth potential in a desirable location. The property's diverse income streams and strong cash flow make it an ideal investment for both seasoned and new investors.

Location Insight

City

Chesaning

County

Saginaw

State

Michigan

Latitude

43.1855

Longitude

-84.1163

CBSA code

40980

CBSA name

SAGINAW-SAGINAW TOWNSHIP NORTH, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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