142 Center StIthaca, MI 48847

This exceptional three-story commercial building at 142 E Center St, Ithaca, MI 48847, presents a compelling investment opportunity. The 5,198 square foot property, built in 1900, sits on a 0.13-acre lot and is zoned for commercial use (APN: 5201013600). The ground floor houses a thriving restaurant with 118 seats, two bathrooms, and all equipment included, currently generating approximately $400 per month in rent. The tenant is responsible for all utilities. Also on the ground floor is a two-room office space with one bathroom, renting for approximately $400 per month. The owner pays utilities, with reimbursement from the tenant. The second floor comprises a one-bedroom, one-bathroom residential unit (approximately $600/month rent, utilities paid by owner with tenant reimbursement) and a tie-dye studio with one bathroom (approximately $400/month rent, tenant pays utilities). A photo studio occupies the entire third floor, generating approximately $200 per month in rent. All tenants are on month-to-month leases, offering flexibility and potential for increased rental income. The combined monthly rental income from all four tenants is $2,000. Estimated annual property taxes are $3,500. This high-traffic location sees approximately 7,000 cars daily, making it an ideal investment for both entrepreneurs and investors seeking a versatile property with significant income potential. The asking price is $249,900 ($48 per square foot).