Former Bank Building - Montague, MI

Retail-Commercial for Sale
Catylist Listing ID: 30073462
Property Subtypes: Free-Standing Building, Retail-Pad, Street Retail, Other
Building Size (RSF): 3,776 SF
Gross Land Area: 1.50 Acres
Sale Price: $350,000
Unit Price: $92.69 PSF
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: Former Bank Building - Montague, MI
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/6/2017

Overview / Comments

Drive-up lane and lighted doorstep parking
High profile corner location (SW corner of Dowling and Water Streets) with two points of ingress/egress
Prominent signage potential
1.5-acre site zoned C-1, downtown core commercial district

Use restrictions: Certain financial institutions, payday loan companies, and adult/sexually oriented businesses.

Additional Details

Nearest MSA: Muskegon
County: Muskegon
Taxing Authority: City of Montague
Tax ID/APN: 21-162-000-0003-00
Zoning: C-1 (COMMERCIAL)
Retail Clientele: General, Business, Recreation
Property Located Between: Only bank location in Montague (closest bank in Whitehall)
Property Visibility: Excellent
Largest Nearby Street: US-31 / Dowling Street
Site Description: 2 miles west of US-31
Area Description: South edge of Montague’s CBD, in a commercial area featuring a grocery store (Montague Foods) and roughly a dozen commercial buildings, just off the marina. The site is roughly 2 miles West of US-31 and provides access to Ludington to the north and Muskegon and I-96 to the south.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 1970
Roof Type: Flat
Construction/Siding: Concrete
Exterior Description: Concrete block with brick veneer exterior walls. Flat roof system with a membrane cover supported by steel joists and metal decking. The middle portion of the building has a pitched roof system with copper cover. Includes 644 sq. ft. canopy with single-tube pneumatic tube system. The property is an irregular rectangular with 321’ frontage along the west side of Dowling Street and 168’ frontage along the south side of Water Street. The topography is level and clear. Professional landscaping, asphalt parking lot and drives, pole-mounted site lighting, concrete sidewalks, and 644 SF canopy with single-tube pneumatic tube system.
Parking Type: Structure
Parking Description: Lighted doorstep parking
Interior Description: Open layout with a lobby, drive-thru window,employee breakroom/conference room, mechanical room, a conference room, storage room, teller line, restroom and a vault with safety deposit boxes. Concrete slab foundation. Floor covering is tile, carpet, vinyl tile and exposed concrete. Interior walls are stud partitions with drywall. Ceilings are suspended acoustical tiles in office, bathroom and conference room; vaulted with tongue-in-groove in lobby; and exposed in storage and mechanical rooms. Fluorescent or hanging light fixtures. One 2-piece restroom.. 10-gallon water heater.
Zoning Description: General Commercial
Lot Frontage: 321' along west Dowling and 168' along south Water Street

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 884 7,992 14,098
Median Age: 36.66 42.53 41.9
Households: 368 3,271 5,587


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