314 Main St Durand, MI 48429-1707
- Strip malls
- 3,672 SF
- 0.56 lot acres
Jan 23, 2025
Current Use by Public Records
- Strip malls
Property Details for 314 Main St
- Year built
- 1979
- Lot size
- 0.56 lot acres
- Property size
- 3,672 SF
- Zone code
- R-2
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 020-12-010-001
- APU
- 2012010001
Description
This vacant three-unit mini-plaza, totaling 3,672 square feet, presents a compelling value-add investment opportunity in Durand, Michigan. Located at 314 E Main St, this property boasts excellent street frontage and ample parking, situated conveniently east of downtown Durand, across from residential neighborhoods and near Durand Union Station. Built in 1979, the single-story building sits on a 0.56-acre lot and is classified as Class D. Currently vacant, the property offers a pro-forma NOI of $36,720 and a pro-forma cap rate of 36.72%, representing significant upside potential for the investor. The asking price is $100,000, translating to $27.23 per square foot. The property's three units provide flexibility for a variety of uses, including restaurants, salons, or retail stores. This is an ideal opportunity for an owner-user or investor seeking a strong return on investment in a desirable location. The property's APN is 020-12-010-001-00. The property is currently vacant and offers a blank canvas for a new owner to create a thriving retail space.
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
- Durand
- County
- Shiawassee
- State
- Michigan
- Longitude
- -83.9822
- Latitude
- 42.9107
- CBSA code
- 29620
- CBSA name
- LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA
