902 E Ashman Street Active Save Request In-Person Tour Request Virtual Tour
Midland,MI 48642
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 8,006 sqft
Price per Sqft $124
Subdivision Mi
MLS Listing ID 50181665
Annual Tax Amount $15,516
Tax Year 2024
Lot Size 0.630 Acres
Acres 0.63
Lot Dimensions Irregular
Property Sub-Type Commercial/Industrial
Property Description
OWN THE BLOCK ON ASHMAN! An exceptional investment opportunity in Midland, Michigan! This high-performing mixed-use complex features a diverse and stable income stream across 14 residential units, 4 commercial spaces and two additional detached single family homes all situated on a strategically located parcel in the heart of the City near downtown, schools and shopping. The entire portfolio has professional property management in place with many of the units recently renovated and near full occupancy. The current pro forma net operating income exceeds $91,000+ per year which represents a purchase price cap rate of approx 9.16%. The seller is willing to hold a second position mortgage for the right buyer. This property presents a rarely available income-producing asset in Midland. Buyer may tour any vacant units prior to offer acceptance, and may then tour the entire building during a due diligence period.
Location
State MI
County Midland
Area Midland (56020)
Zoning Commercial,Residential
Exterior
Parking Features 11-20 Spaces
Building
Water Public Water
Others
Ownership Private
Financing Cash,Conventional