Property profile

7861 Mystic Lk Dr Lake, MI 48632

OFF-MARKET
Commercial real estate
Property ID
US43-4114488
0.46 ac lot
Entity Owned Free & Clear
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Property summary

AI-generated overview

This exceptional turnkey opportunity presents a well-established hardware and sporting goods store in downtown Lake, MI. The property, located at 7861 Mystic Lake, encompasses a substantial 4,546 square foot building situated on a 0.24-acre lot. The asking price of $425,000 includes both the real estate and the thriving business, complete with all tangible and intangible assets. This includes a fully stocked inventory and extensive equipment, such as an 80# propane hi-lo, a pipe cutting and threading machine, glass cutter, key cutter, multiple chain sharpeners, and a sophisticated computerized paint mixing system. Security is ensured with a 12-camera system featuring ADT remote monitoring. The building offers significant expansion potential with a full basement accessible via an overhead door. Future growth is further supported by a second septic and well system already in place. This long-standing business enjoys a loyal customer base, serving several surrounding communities in Central Michigan, making it an attractive investment for a buyer seeking a profitable, established enterprise with significant growth opportunities. The property's prime downtown location adds to its appeal, ensuring high visibility and convenient access for customers.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Lot 0.46 ac (20,038 SF)
APN 013-530-015-02
UPID US43-4114488

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Building Supply Hardware & Home Improvement

Location

7861 Mystic Lk Dr Lake, MI 48632-9749
Lake metro Census 500
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$270k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$270k

Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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