7048 38th Rd Cadillac, MI 49601-9337

Property Details for 7048 38th Rd

Lot size

4.20 lot acres

Property type

Commercial real estate

APN

2212-35-4403

APU

2212354403

Description

This exceptional investment opportunity presents a fully occupied, six-unit retail building situated on a generous 4.2-acre lot in Cadillac, Michigan. The property, located at 7048 W 38 Rd, features 2,958 square feet of space, spread across two stories, and boasts a strong net operating income (NOI) of $77,700. Built in 1962 and extensively renovated in 2018, the building comprises six rental units: four units currently leased at $825 per month and two units leased at $750 per month. In addition to the retail space, the property includes a charming two-story, two-bedroom, 1.5-bathroom home previously leased at $1400 per month plus utilities. This home features a modern kitchen with stainless steel appliances, a spacious dining area, a luxurious primary bedroom with ensuite bathroom, convenient first-floor laundry, and an upstairs loft area serving as a second bedroom. A detached two-stall garage provides additional convenience. The property also benefits from a large, approximately 1.3-acre paved parking lot, offering ample space for tenants and customers. The expansive lot size presents significant potential for future expansion, allowing for the addition of more units, storage facilities, or other amenities. The property is zoned for commercial use and is conveniently located near various recreational attractions, including trails, ski resorts, golf courses, and water sports, making it an ideal location for short-term rental tourism. The asking price is $499,900, representing a price per square foot of $169. Detailed financial information is available upon request. The property's APN is 2212354403.