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Archived almost 5 years ago

$279,000

4.0 rooms 4+ ba 19000 sqft

548 Shattuck Rd., Saginaw, MI 48604

Commercial Commercial Occupied Off MLS

Current Rent **

$6,000

Projected Rent **

N/A

Estimated Cap Rate *

Pro Only

Estimated Cash on Cash ROI *

Pro Only

Large Commercial Mixed-Use Apartment / Office / Warehouse Buildings! 15+ Units!

A professionally managed, approx. 19,000 sq. ft. property between two buildings on 1.8 acres!
Building 1: Warehouse/Light Industrial (9k+ sq. ft.)
4 total units. Machine shop, landscaper, garage, etc. (very long term tenants)
Building 2: Mixed-use (apartments + office space) – 9k+ sq. ft.
8 apartments (six 2bdrm, two 1bdrm), and over 4,000 sq. ft. of office space. 50+ parking spots.

Newly renovated apartment units, freshly sealed parking lot, fixed sewer pipes, and still upgrading property. Significant value add opportunity in updating/leasing office space as it currently has an older look. I'm selling due to relocating & getting out of real estate to pursue my other business.
Gross monthly rent: $6,000+/mo with major potential to lease 3,500 sq. ft. more of office space. Gross rent has gotten over $7-8k/mo for a few months, and has potential to hit $10k/mo if the office spaces are updated and leased out.
I will need to see proof of funds prior to sharing any financial details, and will need a signed purchase agreement prior to showing the building. Serious investors only, no wholesalers, deal brokers, etc. Cash only, no land contracts, no seller financing.

Location:

548 Shattuck Rd., Saginaw, MI 48604

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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.

** Current rent and projected rent are provided by the lister.

† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.

‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.