1035 Ethel Ave - Storefront Retail/Residential FOR SALE


Hancock, MI 49930
$325,000 USD
906-482-0001
1035 Ethel Ave, Hancock, MI for Sale
$325,000 USD
Storefront Retail/Residential - FOR SALE
1/30
null | Request Cap Rate

1035 Ethel Ave
Hancock, MI 49930


HIGHLIGHTS

  • Redevelopment opportunity in West Hancock!
  • Building is situated on a corner lot and has paved parking.
  • Convenient location to the Hancock Schools, U.P.Health System – Portage, Laurn Grove Park, recreational trails and the Houghton County Arena.

OVERVIEW

Redevelopment opportunity in West Hancock! This building has over 9,000+/- square feet of potential! Previous uses have been mixed with commercial and multi-family. Building is situated on a corner lot and has paved parking. Roof age is estimated as follows: flat membrane roof 19+/- years; South 1/2 of shingled roof 11 years; North 1/2 of shingled roof 20+. Heating system: New furnace installed August 2020 for the main level store. Store water heater installed around 2020+/-. Convenient location to the Hancock Schools, U.P. Health System – Portage, Lauren Grove Park, recreational trails and the Houghton County Arena and Fairgrounds. The upper level has potential for 3-4 apartments. Heat: Main store area is forced air. Upper level is electric baseboard. Seller would entertain an offer including any personal property or other items remaining at the time of closing. Seller reserves the right to sell or remove any personal property, shelving, equipment etc. prior to closing, unless otherwise agreed upon in a written offer. Seller will be removing the murals from the exterior of the building. Seller is selling AS-IS. Restriction on use for future owners that will run with the land: No future use shall be for grocery, deli, natural foods, vitamins or supplements or other related goods that would be deemed competition to the services of The Keweenaw Cooperative, Inc. as operating in the new location at 610 Quincy St, Hancock, MI. This wording is subject to updating by Seller's attorney prior to closing and with prior notice to the Buyer. NOTICE: All information believed accurate but not warranted. Buyer recommended to inspect & verify all aspects of the property & bares all risks for any inaccuracies including but not limited to estimated acreage, lot location/size, square footage, utilities (availability & costs associated). Real estate taxes are subject to change (possibly significant) & municipality reassessment after sale. Buyer should NOT assume that buyer’s tax bills will be similar to the seller's current tax bills. Taxes are not zero. Audio/video recording devices may be present on property and entering the property shall be considered consent to be recorded. OFFERS: 72 hours response time requested on offers. Seller, at seller's sole discretion, with orwithout notice, reserves the right to set and/or modify offer submission & response deadlines.

FOR SALE DETAILS

PRICE

$325,000 USD

PRICE/SF

$34 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,291 SF

ZONING

C-1

APN/PARCEL ID

051-629-021-00

ASK ABOUT THIS PROPERTY

Kristine Jukuri WeidnerCentury 21 North Country AgencyMore Info
906-482-0001

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Kristine Jukuri WeidnerCentury 21 North Country AgencyMore Info
906-482-0001

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.