$ 224,900
142 E CENTER Street Ithaca, MI 48847
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 224,900
Est. payment /mo
Price Dropped by $25K
142 E CENTER Street Ithaca, MI 48847
5,198 SqFt
UPDATED:
10/21/2024 03:51 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 5,198 sqft
Price per Sqft $43
Municipality Ithaca
Subdivision Ithaca
MLS Listing ID 20230091260
Originating Board Realcomp
Year Built 1900
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
Zoning Commercial
Direction South of E Center St / East of S Pine River St
Rooms
Basement Basement
Interior
Heating Forced Air
Exterior
Waterfront No
View Y/N No
Building
Foundation Brick/Mortar
Sewer Public
Water Public
Structure Type Other,Brick
Others
Tax ID 5201013600
Listed by KW Professionals
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