123 Cedar St Williamston, MI 48895

Property Details for 123 Cedar St

Year built

1925

Lot size

0.15 lot acres

Property size

1,904 SF

Property type

Flex space

APN

33-18-03-36-352-010

Description

This exceptional investment opportunity presents a unique blend of commercial and residential properties situated in the heart of downtown Williamston, Michigan. The property, located at 123-A N. Cedar Road, consists of two buildings on a 0.15-acre lot, offering a total of 1,904 square feet of space. The main building features a versatile layout suitable for a variety of uses, including retail, office, and light industrial applications. Key features include a two-bay garage, ample storage, a main reception area, two offices, and a heated maintenance area. The 12-foot ceilings provide ample headroom. The property is zoned for commercial and residential use. A separate residential building currently generates $1,100 in monthly rental income on a month-to-month lease. The commercial space commands a rental rate of $12 per square foot, plus utilities. The property boasts four parking spaces per unit. Built in 1925, this Class C property offers a strong 8.00% cap rate with a pro-forma NOI of $24,500. The asking price is $305,000. Its convenient location near Grand River Avenue and major highways (M-52 and I-96) provides excellent accessibility. The property's proximity to the Williamston Police Station adds to its desirability. This is an ideal owner-user opportunity or a lucrative investment for those seeking a high-return property in a thriving downtown area. The APN is 33-18-03-36-352-010. The lease commencement date for the commercial space is November 15, 2024.

Location Insight

City

Williamston

County

Ingham

State

Michigan

Longitude

-84.2810619

Latitude

42.6892698