901 Razorback Dr - Storefront FOR SALE


Houghton, MI 49931
$3,950,000 USD
906-482-0001
901 Razorback Dr, Houghton, MI for Sale
$3,950,000 USD
Storefront - FOR SALE
1/44
null | Request Cap Rate

901 Razorback Dr
Houghton, MI 49931


HIGHLIGHTS

  • High visibility at the intersection of Sharon Avenue and Razorback Drive.
  • New HVAC units, silicone roofing system, and maintained asphalt.
  • 12 units with diverse tenants, including one with a drive-thru.

OVERVIEW

CITY OF HOUGHTON - INVESTMENT OPPORTUNITY! This 12 unit plaza is located in a premiere high traffic area with great exposure. Owner has consistent occupancy history and several longer term leases. Updates to the building include all units rooftop HVAC units(2022-2024), silicone roofing system with 12 year warranty (installed 2024), asphalt maintenance (2024) and exterior painting (2023).Onsite parking provides easy access for businesses occupying the units. One end unit includes drive-thru and has historically been rented to a financial institution. Current tenants are a mix of financial, retail, food service and general business services. Access to the property is via Sharon Avenue and Razorback Drive. Nearby businesses include UP Health System fitness center and clinic, various restaurants and shopping. Good traffic flow from West Houghton along Sharon Avenue to East Houghton and Michigan Technological University. Also, located in the traffic pattern leading to larger retail. Existing leases to transfer to buyer. Lot size:39x247x303x314x125x14x31x59x162x140+/-. NOTICE: All information believed accurate but not warranted. Buyer recommended to inspect & verify all aspects of the property & bears all risks for any inaccuracies including but not limited to estimated acreage, lot size, square footage, utilities (availability & costs associated). Real estate taxes are subject to change (possibly significant), property will be reassessed by the municipality after sale is completed & buyer should NOT assume that buyer’s tax bills will be similar to the seller’s current tax bills. OFFERS: 72 hours response time requested on offers. Seller, at seller's sole discretion, with or without notice, reserves the right to set and/or modify offer submission & response deadlines. Traffic Data State of Michigan: https://arcg.is/1Lm9z00 Photos: Interior photos are sample of units during a time when they were unoccupied. Non-Disclosure Agreement and Prequalification/Proof of Funds required for showings and review of financials and lease information.

FOR SALE DETAILS

PRICE

$3,950,000 USD

PRICE/SF

$165 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Bank, Restaurant, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1995

SPRINKLERS

-

PARKING SPACES

99

LAND DETAILS

LAND ACRES

2.44 AC

LAND SF

106,286 SF

ZONING

C1

APN/PARCEL ID

052-185-002-70

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.