24
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$299,900
13,632 SqFt
Active
108 E Center ST Ithaca, MI 48847
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Rent
Square Footage 13,632 sqft
Subdivision Ithaca
MLS Listing ID 79080069210
Year Built 1987
Lot Size 0.380 Acres
Acres 0.38
Property Description
Fully occupied downtown Ithaca commercial investment property located at 108 E. Center Street, commonly known as The Village Shoppes. This distinctive brick commercial building was built in 1987 and features excellent downtown frontage, multiple tenant spaces, attractive common areas, and a unique interior “village street†layout with storefront-style suites. The property totals approximately 13,600 square feet and is situated on a 100’ x 165’ lot. The building is currently 100% occupied with six tenant spaces and scheduled annual rent of approximately $65,600. Current tenants include a mix of office, retail, and service-oriented users. The property is zoned Downtown Commercial and includes a standard elevator serving all floors. Street parking and nearby municipal parking are available. Utilities are landlord paid. Financial information, rent roll, and pro-forma are available in the listing documents. Based on the seller’s pro-forma, the property is being offered at an approximate 9% pro-forma cap rate. Seller financing or land contract terms may be considered. Buyer to verify all property information, square footage, leases, expenses, taxes, zoning, utility arrangements, permitted uses, and pro-forma assumptions.
Location
State MI
County Gratiot
Area Area29072Ithaca
Interior
Heating Forced Air, Hot Water, Natural Gas
Fireplace No
Exterior
Utilities Available NaturalGasConnected
View Y/N No
Roof Type Asphalt
Building
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Ithaca
Others
Special Listing Condition CorporateRelocation
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Listed by Ryan Smith of II GEMINI, LLC
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