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27 photos
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$199,900
Est. payment /mo
5,198 SqFt
UPDATED:
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
Senior Community false
Acceptable Financing Cash, Contract, Conventional
Listing Terms Cash, Contract, Conventional
Special Listing Condition ShortSaleNo, Standard
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©2025 Realcomp II Ltd. Shareholders
Listed by Jeff Glover of KW Professionals
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