1110 Eldon Baker Dr Flint, MI 48507-1923

Property Details for 1110 Eldon Baker Dr

Year built

1982

Lot size

6.83 lot acres

Property type

Commercial real estate

APN

41-20-476-059

APU

4120476059

Description

This exceptional Flint, MI investment property offers 67,500 square feet across three buildings on an 8.5-acre lot, boasting 40 units, 410 parking spaces, and a strong pro-forma cap rate of 15.76%. Built in 1982 and renovated in 2022, the Class A property features a mix of apartments and office space, currently at 50% occupancy, generating a pro-forma NOI of $312,000. The property is zoned for mixed use and enjoys prime frontage on two major roads, offering excellent visibility and accessibility. Its strategic location, a mile south of I-69 and eight miles from Bishop International Airport, presents significant potential for growth and value appreciation. The asking price is $1,980,000 ($29.33/sq ft), with a potential leaseback option adding further investment appeal. This value-add opportunity allows for expansion, alteration, and improvement, catering to various investment strategies, from short-term gains to long-term returns. The property's size, location, and diverse offerings make it an ideal investment for those seeking a strong return and significant upside potential in a growing market. The APN is 41-20-476-059.