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Property profile & analytics
OFF-MARKET
Retail space

68476 Main St Richmond, MI 48062-1297

5,531 SF 0.36 ac lot Built 1940
Individually Owned 13-yr Hold Free & Clear
Property ID
US43-1314240
Property summary
AI-generated overview

This exceptional 5,531 square foot retail property, located at 68476 Main St, Richmond, MI 48062, presents a unique investment opportunity. Built in 1940, this building sits on a 0.47-acre lot and boasts 180 feet of road frontage, ensuring high visibility and accessibility. The property features a full basement, a two-car garage, a quaint carriage house, and ample parking for 15+ vehicles. Currently zoned B2 Commercial, the property offers a wide array of potential uses, including but not limited to a bed and breakfast, assisted living facility, daycare, restaurant, attorney's office, or tavern. The spacious layout includes a large second floor, ideal for mixed-use development, such as combining commercial space on the first floor with residential quarters above. The asking price is $210,000, translating to $38 per square foot. The land value alone is also assessed at $38 per square foot. This property presents a chance to revitalize a classic building in a desirable location, offering significant potential for return on investment. The Macomb County location and the property's versatile zoning make this a truly compelling opportunity for a savvy investor. The APN is 0601152001.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1940
Total area 5,531 SF
Lot 0.36 ac (15,856 SF)
Zoning code B-2
APN 07-06-01-152-001
UPID US43-1314240
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
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Owner & transaction history
JOHN MARKEL
JOHN MARKEL
Zoning & alternative use
B-2 · Richmond, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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