142 E CENTER ST Active Save Request In-Person Tour Request Virtual Tour
Ithaca,MI 48847
Key Details
Property Type Commercial
Sub Type RealEstateOnly
Listing Status Active
Purchase Type For Sale
Square Footage 5,198 sqft
Price per Sqft $38
MLS Listing ID 20230091260
Year Built 1900
Property Sub-Type RealEstateOnly
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 3 tenants for a combined monthly rental income of 1,350 with the potential for 2 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 paid all utilities on their own (water, gas, electric). The other half of the ground floor features a 2 room office with 1 bathroom at approximately 325/month. For this unit, the owner paid 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 furnace in this unit was recently rebuilt. 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 Area29072Ithaca
Interior
Heating ForcedAir, NaturalGas
Cooling CentralAir
Exterior
View Y/N No
Building
Foundation Basement, BrickMortar
Sewer PublicSewer
Water Public
Schools
School District Ithaca
Others
Acceptable Financing Cash, Contract, Conventional
Listing Terms Cash, Contract, Conventional
Special Listing Condition ShortSaleNo, Standard