304 S Main St Mount Pleasant, MI 48858
- Commercial real estate
- 9 SF
Current Use by Public Records
- Commercial real estate
Property Details for 304 S Main St
- Property size
- 9 SF
- Property type
- Commercial real estate
- APN
- 17-000-00493-00; 17-000-00494-00
Description
This exceptional multifamily investment opportunity consists of a nine-unit apartment building situated in the heart of downtown Mount Pleasant, Michigan. The property comprises two buildings, each four stories high, totaling 9,000 square feet and currently boasting 100% occupancy. Located at 304 S Main St and 109 W Illinois St, the property benefits from prime corner lots, offering significant redevelopment potential given its strategic location. The buildings are conveniently situated within walking distance of Central Michigan University, ensuring consistent demand and strong rental income. The property features a Class C designation and is zoned CD-4 General Urban. The current Net Operating Income (NOI) stands at $54,872.82, translating to an attractive price per unit of $88,333.33. The asking price for this fully occupied, high-demand property is $795,000. The property's strong historical occupancy and proximity to Central Michigan University make it an ideal investment for those seeking a stable and potentially appreciating asset in a vibrant college town. The APN numbers are 17-000-00493-00 and 17-000-00494-00. This is a rare opportunity to acquire a well-performing multifamily property with significant upside potential in a desirable location.
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
- Mount Pleasant
- County
- Isabella
- State
- Michigan
- Longitude
- -84.7770231
- Latitude
- 43.6023888
