323 W Wright Ave - Storefront Retail/Residential FOR SALE


Shepherd, MI 48883
$489,000 USD
989-567-2027
323 W Wright Ave, Shepherd, MI for Sale
$489,000 USD
Storefront Retail/Residential - FOR SALE
1/7
null | Request Cap Rate

323 W Wright Ave
Shepherd, MI 48883


HIGHLIGHTS

  • Historic mixed-use building with strong income potential
  • Great visibility and accessibility
  • Prior use as 4 residential apartment units
  • Two successful short-term Airbnb rentals

OVERVIEW

Rare Historic Mixed-Use Opportunity Main Street Location – This well maintained historic building offers excellent income potential in one of Central Michigan’s most desirable areas. Currently configured as a successful mixed-use property with cash flow from both commercial and short-term rental uses. Current Configuration: Main floor: Operating retail/wellness shop Upper floors: Two fully functional and furnished Airbnb rental units Flexible History: Previously used as four separate apartment rentals, providing multiple options to convert back to traditional multifamily, student housing, or expanded commercial space. Prime Location Advantages: Adjacent to a family-friendly park Directly across from popular restaurants and thriving businesses Within 10 minutes of Central Michigan University (CMU) Less than 10 minutes from Soaring Eagle Casino & Resort Convenient access to Alma College Close to US127, easy on and off access Site Features: Large dedicated paved parking lot Additional expansive open lot on the west side (perfect for extra parking, events, or future expansion) This property benefits from multiple demand drivers including university students, casino tourism, local residents, and visitors. The combination of historic charm, versatile layout, abundant parking, and high-visibility location makes it a standout investment or owner-user opportunity in Mount Pleasant. Ideal for investors seeking immediate returns through the existing retail tenant and Airbnbs, or for those looking to maximize returns through reconfiguration. Contact the owner today for more information or to schedule a private showing. Listed on local MLS with an agent as well.

FOR SALE DETAILS

PRICE

$489,000 USD

PRICE/SF

$122 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Historic Mixed-Use Property | Retail/Airbnbs

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1889

SPRINKLERS

-

PARKING SPACES

45

LAND DETAILS

LAND ACRES

0.6 AC

LAND SF

26,138 SF

ZONING

C-1/RI

APN/PARCEL ID

31-050-00-049-00

ASK ABOUT THIS PROPERTY

Kara FegerKelli Home PropertiesMore Info
989-567-2027

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Kara FegerKelli Home PropertiesMore Info
989-567-2027

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