142 Center StIthaca, MI 48847

For Sale
$214,900

High-income potential, versatile space.

Overview

Added:
Feb 3
Days on market:
40
This 5,198 sq ft, three-story industrial building in Ithaca, MI, presents a compelling investment opportunity. Situated on a 0.13-acre lot with high daily traffic (approximately 7,000 cars), the property currently generates a combined monthly rental income of $1,025 from two tenants. The ground floor previously housed a fully equipped restaurant (118-seat capacity, two bathrooms) and a two-room office with a bathroom, each generating approximately $400 in monthly rent. The second floor includes a one-bedroom, one-bathroom residential unit ($625/month) and a tie-dye studio with a bathroom ($400/month). A former photo studio occupies the third floor, generating $200/month in rent. All tenants are on month-to-month leases, offering flexibility for future income growth. The property benefits from recent upgrades, including a new AC unit upstairs (2024) and a new furnace downstairs (2024). Estimated annual property taxes are $3,500. This multi-use building offers significant potential for investors and entrepreneurs alike, with the possibility of adding three additional tenants. The building's diverse layout and prime location make it an attractive proposition in a bustling area.

Property Details for 142 Center St

Property type
Industrial properties, Other industrial properties
Square Feet
5,198 SF
Year Built
1919
Lot Size (sq. ft)
5,663 SF

Location Insight

City
Ithaca
County
Gratiot
State
Michigan
Latitude
43.29138
Longitude
-84.60638
142 Center St, Ithaca, Michigan

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142 Center St
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