1203 Gratiot Ave Saginaw, MI 48602

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.