142 E CENTER Street Active Save Request In-Person Tour Request Virtual Tour
Ithaca,MI 48847 1457
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 5,198 sqft
Price per Sqft $43
Subdivision Mi
MLS Listing ID 60267107
Lot Size 5,662 Sqft
Acres 0.13
Lot Dimensions 34x165
Property Description
142 E Center in Ithaca presents a unique investment opportunity for those seeking versatility and potential in a bustling location where approximately 7,000 cars drive by daily. This three-story building currently has 2 tenants for a combined monthly rental income of 1,025 with the potential for 3 additional tenants. The ground floor was previously used as a restaurant, boasting a seating capacity of 118, 2 bathrooms, and all equipment included for immediate operation. The restaurant was paying approximately 400/month in rent and the tenant payed all utilities on their own (water, gas, electric). The other half of the ground floor featured a 2 room office with 1 bathroom at approximately 400/month. For this unit, the owner payed the utilities and the tenant reimbursed. On one half of the 2nd level there is a 1 bed, 1 bath residential unit at approximately 625/month and the owner pays the utilities and the tenant reimburses. The other half of the 2nd floor features a tie-dye studio with 1 bath room at 400/month and the tenant pays all utilities on their own. The third and final floor was used as a photo studio at 200/month. All tenants are on month-to-month leases, allowing for adaptability and increased income potential. There is a new AC upstairs as of 2024 and a new furnace downstairs as of 2024. Taxes are estimated to be 3,500/year. Whether you're an investor or an entrepreneur, 142 E Center stands as an exciting opportunity in a prime Ithaca location! BTVAI
Location
State MI
County Gratiot
Area Ithaca (29023)
Zoning Commercial
Interior
Heating Forced Air
Building
Foundation Basement
Water Public Water
Structure Type Brick,Other
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional