Description
''BUILDING ONLY SALE'' Prime Commercial Building on the main street of Saugatuck (Butler Street). This is a historic building in the heaviest foot traffic area of the historic district of Downtown Saugatuck. The tenant, ''Momentum'', is a clothing chain with this store being their highest volume store. 241 Butler Street has a large backyard with a ''private'' easement off of Hoffman Street for access to the back. This is also very rare in the downtown historic district.The current ''net rental income'' is approximately $57,600 annually, giving the investor a 8.4% annual yield, not including annual appreciation. There is no land available to build competing commercial buildings in downtown Saugatuck, which make this building steady in appreciation year after year.
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0BEDS
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0.07ACRES
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1BATHS
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01/2 BATHS
Description
''BUILDING ONLY SALE'' Prime Commercial Building on the main street of Saugatuck (Butler Street). This is a historic building in the heaviest foot traffic area of the historic district of Downtown Saugatuck. The tenant, ''Momentum'', is a clothing chain with this store being their highest volume store. 241 Butler Street has a large backyard with a ''private'' easement off of Hoffman Street for access to the back. This is also very rare in the downtown historic district.The current ''net rental income'' is approximately $57,600 annually, giving the investor a 8.4% annual yield, not including annual appreciation. There is no land available to build competing commercial buildings in downtown Saugatuck, which make this building steady in appreciation year after year.
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