200-206 E Division St - Storefront Retail/Residential FOR SALE


Ishpeming, MI 49849
$499,900 USD
906-360-0796
200-206 E Division St, Ishpeming, MI for Sale
$499,900 USD
Storefront Retail/Residential - FOR SALE
1/16
null | Request Cap Rate

200-206 E Division St
Ishpeming, MI 49849


OVERVIEW

Great investment opportunity in this large commercial/residential building in Downtown Ishpeming! This building features 3 store fronts currently occupied by the beloved Rare Earth Goods, Apiary Life Studio, and Bats Amore Used Books. There are secondary entrances in the front of the building and the back with staircases that lead to a common area space that includes 4 spacious 1 bedroom, 1 bathroom rental units. As well as 2 "dorm style" spaces (remodel potential for a fifth larger apartment out of these!) that share a private bathroom in the common area hallway. Further down the hallway you'll find a tenant-accessible wooden balcony for outdoor enjoyment steps outside of one's unit. The one-bedroom units have front entries with hallway closets, formal dining, living room, bedroom , full bathroom, and a kitchen. Some units have new appliances such as new fridge and oven. Further updates that were completed were a new high efficiency boiler, required developmental construction to the basement, previous owner replaced the windows and roof top solar panels were installed and help contribute over half of the buildings electricity needs. While there is no on-site parking, there is plenty of street parking and nearby city lots available for the winter parking for the tenants. All units besides the "dorm style" rooms are currently occupied.

FOR SALE DETAILS

PRICE

$499,900 USD

PRICE/SF

$53 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

1940

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,532 SF

ZONING

Commercial

APN/PARCEL ID

52-51-556-155-00

ASK ABOUT THIS PROPERTY

Dawn FlorioRe/Max 1st RealtyMore Info
906-360-0796

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Dawn FlorioRe/Max 1st RealtyMore Info
906-360-0796

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