Homes for sale - 142 E CENTER Street, Ithaca, MI 48847

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SimpliHŌM - Making Real Estate Simple

support@simplihom.com +1(855) 856-9466

$ 224,900

Est. payment | -/mo

5,198 SqFt

Save

$ 224,900

Est. payment | -/mo

Save

5,198 SqFt

Key Details

Property Type Commercial

Sub Type Real Estate Only

Listing Status Active

Purchase Type For Sale

Square Footage 5,198 sqft

Price per Sqft $43

MLS Listing ID 20230091260

Originating Board Realcomp II Ltd

Year Built 1900

Lot Size 5,662 Sqft

Acres 0.13

Lot Dimensions 34x165

Property Description

142 E Center in Ithaca presents a unique investment opportunity for those seeking versatility and potential in a bustling location where approximately 7,000 cars drive by daily. This three-story building currently has 2 tenants for a combined monthly rental income of 1,025 with the potential for 3 additional tenants. The ground floor was previously used as a restaurant, boasting a seating capacity of 118, 2 bathrooms, and all equipment included for immediate operation. The restaurant was paying approximately 400/month in rent and the tenant payed all utilities on their own (water, gas, electric). The other half of the ground floor featured a 2 room office with 1 bathroom at approximately 400/month. For this unit, the owner payed the utilities and the tenant reimbursed. On one half of the 2nd level there is a 1 bed, 1 bath residential unit at approximately 625/month and the owner pays the utilities and the tenant reimburses. The other half of the 2nd floor features a tie-dye studio with 1 bath room at 400/month and the tenant pays all utilities on their own. The third and final floor was used as a photo studio at 200/month. All tenants are on month-to-month leases, allowing for adaptability and increased income potential. There is a new AC upstairs as of 2024 and a new furnace downstairs as of 2024. Taxes are estimated to be 3,500/year. Whether you're an investor or an entrepreneur, 142 E Center stands as an exciting opportunity in a prime Ithaca location! BTVAI

Location

State MI

County Gratiot

Area Ithaca

Zoning Commercial

Direction South of E Center St / East of S Pine River St

Interior

Heating Forced Air

Heat Source Natural Gas

Exterior

Utilities Available 3 Phase Power

Road Frontage Paved

Building

Foundation Basement

Sewer Public Sewer (Sewer-Sanitary)

Water Public (Municipal)

Level or Stories 3 Story

Structure Type Brick,Other

Schools

School District Ithaca

Others

Tax ID 5201013600

Ownership Short Sale - No,Private Owned

Acceptable Financing Cash, Contract, Conventional

Listing Terms Cash, Contract, Conventional

Financing Cash,Contract,Conventional

Special Listing Condition Full Service

Listed by Jeff Glover of KW Professionals

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(855) 856-9466

support@simplihom.com

142 E CENTER Street Ithaca, MI 48847