12
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$254,900
Est. payment /mo
4,000 SqFt
Active
35 Wells Street Croswell, MI 48422
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 4,000 sqft
Price per Sqft $63
MLS Listing ID 20251051546
Annual Tax Amount $1,609
Lot Size 0.370 Acres
Acres 0.37
Lot Dimensions 98x180
Source Realcomp
Property Description
High-Yield Single-Tenant Investment OpportunityThis is a single-tenant commercial investment property offered for sale. The approximately 4,000-square-foot building is secured by a new three-year lease generating $3,000 per month in gross rental income.The lease provides an attractive, low-management expense structure. The landlord is responsible only for property taxes and building insurance, while the tenant pays all utilities and handles lawn maintenance and snow removal. Based on current reported expenses, the property generates an estimated net operating income of $30,637 and an estimated 12.01% capitalization rate.The solid block building offers a flexible commercial layout suitable for retail, office, light industrial, processing, storage, workshop, showroom, or warehouse uses. Existing improvements include three built-out rooms, an approximately 40-by-35-foot open area, three 200-amp electrical panels, two five-ton mini-split HVAC units, and one standard five-ton air-conditioning unit. Existing equipment is included in the sale.This offering provides investors with immediate cash flow, a strong going-in return, limited landlord operating responsibilities, and a versatile commercial asset with future reuse potential.
Location
State MI
County Sanilac
Zoning Commercial
Direction E of Howard, N off Wells St
Exterior
View Y/N No
Building
Foundation Slab
Water Public
Structure Type Brick,Metal Siding
Schools
School District Croswell Lexington
Others
Tax ID 31031000203200
Listed by Realty Executives Home Towne