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$ 579,000
Est. payment | /mo
12,416 SqFt
$ 579,000
Est. payment | /mo
12,416 SqFt
Key Details
Property Type Commercial
Sub Type Business
Listing Status Active
Purchase Type For Sale
Square Footage 12,416 sqft
Price per Sqft $46
Subdivision Mi
MLS Listing ID 80070044
Year Built 1850
Annual Tax Amount $13,469
Lot Size 6,534 Sqft
Acres 0.15
Lot Dimensions 0.15
Property Sub-Type Business
Property Description
Exceptional Downtown Commercial Investment Opportunity! This well-maintained multi-story commercial building offers approximately 15,986 square feet of versatile space in a prime downtown location. The property features 12,416 square feet of currently leasable space, including 6,194 SF on the first floor and 6,222 SF on the second floor, plus an additional 3,570 SF third floor currently utilized for storage. The third floor presents an outstanding value-add opportunity and could potentially be converted into residential apartments through programs such as DRRP, MCRP, RAP, or MI Neighborhoods, creating additional income potential. Recent improvements include updated flooring (2022) and renovated restrooms (2026). An elevator provides convenient access to floors 1 & 2; the 3rd floor is accessed by stairs. The building is currently partially owner-occupied (approximately 9,000 SF) and partially tenant-occupied (approximately 3,000 SF) with established long-term tenants paying approximately $6.00/SF/year, offering significant upside potential for future rental income. Ample public parking is available along Washington Street and in the city-owned parking lot directly behind the building, providing convenient access for tenants and visitors.
Location
State MI
County Shiawassee
Area Shiawassee Twp (78013)
Zoning Commercial
Interior
Heating Forced Air
Cooling Central A/C
Exterior
Parking Features Parking Lot
Roof Type Other-See Remarks
Building
Foundation Basement
Water Public Water
Structure Type Brick
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Commercial Loan,Conventional,Purchase Money MTG
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Tamarack Realty Services