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Listed by Coldwell Banker Schmidt-Glen A
$575,000
Est. payment /mo
1,375 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Income
Listing Status Active
Purchase Type For Sale
Square Footage 1,375 sqft
Price per Sqft $418
MLS Listing ID 1952190
Year Built 1960
Lot Size 0.390 Acres
Acres 0.39
Property Sub-Type Income
Property Description
Here's an opportunity to own a piece of Glen Arbor and the home of the 49636 Post Office. A 1375 sqft building on a 0.4 acre parcel in the heart of town, directly across from Arts Tavern and just a block from the beach. A new septic tank and pump chamber were installed in 2022 and privacy and decorative fencing and tree cleanup were completed around the same time. The lease rates work out to about the same return as current 10-year treasury bond yields, (and arguably the same low-risk profile) but with the upside of long-term appreciation of the land. The current lease with USPS runs through November 2027 and a new lease has been negotiated but not signed, so the future owner has an opportunity to finalize their own terms.
Location
State MI
Interior
Heating Forced Air, Propane
Exterior
Waterfront Description Shared Well
Roof Type Membrane
Total Parking Spaces 12
Garage false
Building
Foundation Slab
Sewer Pump Back, Shared Septic
Water Shared Well
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