Listed by DIRT Realty
$5,500,000
30 N Saginaw - The Treasury
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 85,000
Net Rentable (SqFt) 77,000
Units 35
Cap Rate 7.33%
NOI $403,000
Occupancy 75%
Pro-Forma Cap Rate 10.55%
Pro-Forma NOI $580,000
Price per SqFt $65
Price Per Acre $500,000
Class A
Year Built 1921
Year Renovated 2019
Buildings 1
Stories 8
Zoning commercial
Investment Type Value Add
Historic Mixed Use 8 story building
Marketing description
Historic bank building in the center of downtown, 8 stories with 6 renovated and fully leased. First floors are The Treasury - event and wedding venue. 14 apartment units (100% occupied and wait list), rents can be increased in 2022. 2 floors of creative office, fully renovated with incredible architectural enhancements.
Priced for sale. 10 cap on current income, significant value add potential exists.
Investment highlights
- Historic bank building in the center of downtown, 8 stories with 6 renovated and fully leased.
- First floors are The Treasury - event and wedding venue. 14 apartment units (100% occupied and wait list), rents can be increased in 2022. 2 floors of creative office, fully renovated with incredible architectural enhancements.
- Opportunity Zone
- Significant Landmark Building
Priced for sale. 10 cap on current income, significant value add potential exists.
Listing Contacts
Listed by DIRT Realty
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$403,000.00
$33,583.33/mo
Valuation Metrics
0
DSCR
7.33%
Cap Rate
7.33%
ROI
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Brokerage
Title
Is there information that looks off?
