107 W Delaware - Freestanding FOR SALE


Decatur, MI 49045
$650,000 USD
616-437-1147
107 W Delaware, Decatur, MI for Sale
$650,000 USD
Freestanding - FOR SALE
1/18
null | 14.42% Cap Rate

NEW


107 W Delaware
Decatur, MI 49045


HIGHLIGHTS

  • Turn key rental
  • Long term retail tenant
  • Ample parking

OVERVIEW

This well-located mixed-use property in the heart of downtown Decatur offers a rare combination of stable commercial income and strong residential upside.? The entire building above grade is 6,680 sq ft with a full finished basement.? The main floor and basement is fully leased to Sun Provisions, a long-term tenant operating under an absolute net lease, providing predictable, hands-off income for the owner.? The commercial space anchors the building and offers excellent visibility and foot traffic in the downtown corridor.? Above, the second floor features three residential units—two one-bedroom apartments and one spacious two-bedroom unit.? All residential units are currently vacant and rent-ready, offering an immediate value-add opportunity.? Residential market rents are estimated at approximately $3,500 per month or more, along with the retail rent at $4,875 allowing a new owner to quickly increase cash flow upon lease-up for a total of $8,375 per month or $100,500 annually.? This property is ideal for investors seeking: ?A blend of stable long-term commercial income and residential upside A low-maintenance asset with a NNN commercial tenant Strong return potential through residential leasing ?A foothold in a growing small-town market with consistent demand Whether you’re looking to stabilize and hold, or optimize income through strategic leasing, 107 W Delaware St presents a compelling opportunity with multiple revenue streams and built-in upside.?

FOR SALE DETAILS

PRICE

$650,000 USD

PRICE/SF

$102 USD /SF

CAP RATE

14.42%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

None

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1992

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

Commercial

APN/PARCEL ID

80-43-040-294-11

ASK ABOUT THIS PROPERTY

Brice BossardetUrban Space of Grand Rapids, LLCMore Info
616-437-1147

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Brice BossardetUrban Space of Grand Rapids, LLCMore Info
616-437-1147

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.