202 Broad St Chesaning, MI 48616-1205

Property Details for 202 Broad St

Year built

1900

Lot size

0.10 lot acres

Property size

8,075 SF

Zone code

B-1

Property type

Commercial real estate

APN

13-09-3-16-0124-000

APU

13093160124000

Description

This exceptional mixed-use property in Chesaning, Michigan, presents a lucrative investment opportunity. Located at 202 W Broad St, 48616, this 10,069 square foot building boasts a strong income stream from multiple revenue sources. The property includes a well-established liquor store with a valuable Saginaw County liquor license (estimated value $250,000) currently owner-operated, a laundromat (also owner-operated), and two apartments. The pharmacy tenant currently pays $1,500 per month in rent, while each apartment generates $450 monthly (below market value). The liquor store and laundromat spaces offer significant upside potential, with estimated rental income of $2,500 and $1,000 per month respectively. The property is currently 80% occupied, offering immediate cash flow and the potential for increased profitability through lease adjustments and full occupancy. The asking price is $890,000, representing an attractive cap rate of 9%. This is a rare opportunity to acquire a multi-faceted commercial property with significant growth potential in a desirable location. The property's diverse income streams and strong cash flow make it an ideal investment for both seasoned and new investors.