142 E CENTER Street, Ithaca, MI 48847 - MLS#20230091260

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Additional details

Downtown Realty

team@dtrdetroit.com +1(313) 466-7253

$ 224,900

Est. payment -/mo

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Price Dropped by $25K

142 E CENTER Street Ithaca, MI 48847

5,198 SqFt

UPDATED:

10/21/2024 03:50 PM

Key Details

Property Type Commercial

Sub Type Real Estate Only

Listing Status Active

Purchase Type For Sale

Square Footage 5,198 sqft

Price per Sqft $43

MLS Listing ID 20230091260

Originating Board Realcomp II Ltd

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

Area Ithaca

Zoning Commercial

Direction South of E Center St / East of S Pine River St

Interior

Heating Forced Air

Heat Source Natural Gas

Exterior

Utilities Available 3 Phase Power

Waterfront no

Road Frontage Paved

Building

Foundation Basement

Sewer Public Sewer (Sewer-Sanitary)

Water Public (Municipal)

Level or Stories 3 Story

Structure Type Brick,Other

Schools

School District Ithaca

Others

Tax ID 5201013600

Ownership Short Sale - No,Private Owned

Acceptable Financing Cash, Contract, Conventional

Listing Terms Cash, Contract, Conventional

Financing Cash,Contract,Conventional

Special Listing Condition Full Service

Listed by Jeff Glover of KW Professionals

Downtown Realty

Brokerage | License ID: 6505386963

+1(313) 466-7253

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