427 Steer St Addison, MI 49220

Property Details for 427 Steer St

Year built

1920

Lot size

0.48 lot acres

Property size

1,116 SF

Property type

Commercial real estate

APN

WD1-131-4475-00

APU

WD1131447500

Description

This exceptional 7.2-acre property in Addison, MI, presents a remarkable investment opportunity. The site boasts approximately 875 feet of frontage on the serene Addison Mill Pond, offering picturesque views and potential for various developments. The property includes a substantial 12,235-square-foot building, formerly the Addison Bariatric Hospital, featuring a robust 500-kilowatt transformer with 3-phase power and 208 volts. This significant power capacity opens doors to a wide range of industrial or commercial uses. In addition to the main building, a secondary 1,800-square-foot structure generates a consistent monthly income of $2,000 through an existing lease. The property's expansive size and prime location make it ideal for diverse development projects, including multi-family housing, senior living facilities, self-storage units, or other commercial ventures. The tranquil setting, combined with the substantial existing infrastructure, creates a unique opportunity for significant return on investment. All square footage and income figures are estimates and should be independently verified. This is a rare chance to acquire a large, versatile property with substantial existing structures and significant development potential in a desirable location. The property is priced at $800,000.

Location Insight

City

Addison

County

Lenawee

State

Michigan

Longitude

-84.3491

Latitude

41.9911

CBSA code

10300

CBSA name

ADRIAN, MI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments