Property profile

119 Main St Elsie, MI 48831

OFF-MARKET
Retail space
Property ID
US43-2141689
3,080 SF 0.15 ac lot
Individually Owned 5-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional retail storefront, located at 119 E Main St in Elsie, Michigan, presents a unique investment opportunity. Priced at $30,000, this 3,080 square foot building sits on a 6,556 square foot lot. Currently vacant, the property offers significant potential for repurposing. The building's prime downtown location near the intersection of S. Ovid/Hollister and E. Main/Island streets provides excellent visibility and accessibility. The property includes two separate spaces, ideal for owner-occupancy or generating rental income. Its quaint setting in downtown Elsie offers a charming atmosphere for a variety of businesses. The building's size and layout are adaptable to various uses, including retail, storage, or even conversion into a multi-unit property. While the property requires some tender loving care (TLC), the substantial square footage offers exceptional value for the asking price. The address encompasses both 119 and 123 E Main St. This is a rare chance to acquire a substantial property in a desirable downtown location at an attractive price point. Don't miss this opportunity to establish your business or expand your investment portfolio in this charming Michigan town. The zip code is 48831.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Total area 3,080 SF
Lot 0.15 ac (6,578 SF)
Zoning code C-1
APN 061-190-001-013-01
UPID US43-2141689

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

119 Main St Elsie, MI 48831-5113
Elsie metro Census 10702 LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$100k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$115k

Owner & transaction history

since 2020
Last sale
$15,000
4 recorded transactions
2020
Price N/A
2017
$15,000
2011
$1,462
2009
$35,000

Zoning & alternative use

C-1 · Elsie, MI
Zoning description

Sec. 15-309. C-1 Downtown Commercial district. The purpose of the Downtown Commercial district is to provide for commercial uses in Elsie's established downtown development district that will strengthen the downtown's po…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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