110 Main St Eaton Rapids, MI 48827-1068

This exceptional mixed-use investment opportunity in Eaton Rapids, Michigan, presents a compelling combination of retail and residential income streams. The property, located at 110 S Main St, encompasses 18,069 square feet on a 0.13-acre lot and includes a Family Dollar store and a two-unit apartment building. The Family Dollar store, a corporate-guaranteed tenant, has occupied the space since December 20, 1993, under a lease expiring December 31, 2023. While the lease has expired, the property benefits from a strong history of tenancy and a current 100% occupancy rate across all three units. The apartment building provides additional rental income, diversifying the investment. The property boasts a strong 8.50% cap rate and a net operating income (NOI) of $36,869. Built in 1905, the two-story building sits on commercially zoned land. The asking price is $433,756, translating to $24.01 per square foot. The lease includes a five-year option with a 10% rent bump in each option. This property offers significant potential for long-term growth and stability due to its prime location, strong tenant history, and diversified income streams. The current below-market rent paid by Family Dollar presents an opportunity for future rental increases. This is a rare opportunity to acquire a well-established, high-performing mixed-use property in a desirable Michigan location.