1203 Gratiot Ave Saginaw, MI 48602
- Retail space
- 2,058 SF
- 0.28 lot acres
Current Use by Public Records
- Retail space
Property Details for 1203 Gratiot Ave
- Year built
- 1884
- Lot size
- 0.28 lot acres
- Property size
- 2,058 SF
- Property type
- Retail space
- Property subtype
- Storefront properties
- APN
- 18051700000
Description
This mixed-use property at 1203 Gratiot Ave, Saginaw, MI 48602, offers a compelling investment opportunity. The 2,058 square foot building, constructed in 1884 and renovated in 2015, sits on a 0.28-acre lot (APN 18051700000) and is zoned for commercial use. Currently operating at 100% occupancy with a gross lease, the property features a storefront and a two-bedroom apartment. The storefront, currently a hair and nail salon, offers adaptable space for various businesses. The upstairs apartment boasts hardwood floors, a full bathroom, living room, and an oversized balcony overlooking a private wooded area. The basement includes washer/dryer access. The building also features two furnaces, wheelchair access, and an ADA-compliant ramp. The property's strong financial performance is reflected in its asking price of $89,900 ($43.68/sq ft) and a 7.00% cap rate. The current lease has 3 years remaining. This property presents a rare blend of commercial and residential income streams in a desirable Saginaw location. Its versatility, strong cash flow, and prime location make it an ideal investment for both owner-occupants and investors seeking a stable, income-producing asset.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Saginaw
- County
- Saginaw
- State
- Michigan
- Longitude
- -83.9782086
- Latitude
- 43.4148068
