121 Main StOvid, MI 48866

Property Details for 121 Main St

Year built

1870

Lot size

0.05 AC

Property size (Sq ft)

1,720 SF

Zone code

B-1

Property type

Retail properties

Property subtype

Turn key restaurants

APN

580-000-018-014-00

APU

58000001801400

Description

This exceptional investment opportunity presents a fully operational restaurant located at 121 S Main Street, Unit 121, Ovid, MI. The 3,440 square foot property sits on a 0.05-acre lot and is priced affordably at $110,000. The restaurant itself boasts recent upgrades, including new flooring and tables, ensuring a modern and inviting atmosphere for patrons. Adding significant value to this offering are two income-generating apartments located on the upper floor. These apartments are currently rented, providing a consistent stream of supplemental revenue beyond the restaurant's operations. This unique combination of a thriving restaurant business and established rental units presents a compelling investment prospect for those seeking a diversified income portfolio. The property's location in Ovid, MI, offers access to a local customer base while the updated interior ensures immediate operational readiness. The restaurant is fully equipped and ready for a new owner to step in and continue its success. The rental units are also in good condition and currently occupied, minimizing vacancy concerns. This is a rare opportunity to acquire a turnkey business with built-in rental income in a desirable small-town setting. Serious inquiries are encouraged to explore this promising investment further. Financial statements and further details are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $432,832

  6.5%

  $399,537

  7%

  $370,998

• Comparable approach

  Method

  Valuation

  Relative Method

  $405,440

  Geo Method

  $405,440

• Alternative Use

  Use

  Valuation

  Residential

  $337,024

  Hospitality

  $308,712

  Educational

  $256,845

  Medical

  $265,678

  Retail

  $399,537

Location Insight

City

Ovid

County

Clinton

State

Michigan

Latitude

43.0048

Longitude

-84.3713

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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