Former Antique Store, Retail, office or other.

Retail-Commercial for Sale
Catylist Listing ID: 30754205
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Street Retail
Building Size (RSF): 7,191 SF
Gross Building Area: See Agent
Sale Price: $350,000
Unit Price: $48.67 PSF
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 9/13/2021

Overview / Comments

Great opportunity in downtown Otsego, a Michigan Mainstreet community. 7,000+ sq. ft. offers many different opportunities for a new owner, the most recent use was as an antique store but with great exposure on M-89/Allegan St and good foot traffic the possibilities are endless. The property at one time had three different store fronts and it is possible that could be reconfigured to split the property into multiple uses. There is a front and rear entrance with free parking on both with a large municipal parking lot in the rear of the building. The neighbor units are a busy restaurant, a local hardware store and more. The building features a partial basement and a new roof which is a huge expense not to worry about in future.

Additional Details

Nearest MSA: Holland
County: Allegan
Tax ID/APN: 5410001400
Zoning: COMMERCIAL
Retail Clientele: General, Family, Business, Traveler
Property Located Between: N. Farmer and Kalamazoo St.
Largest Nearby Street: Farmer St.
Highway Access: Allegan St. is also called M-89, property is just over one mile from US 131
Area Description: Otsego is a Michigan Mainstreet Community with a strong presence and support.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 7,191 SF
Property Condition: Good
Year Built: 1920
Roof Type: Flat
Construction/Siding: Brick, Wood Siding
Total Parking Spaces: 50
Parking Type: Surface
Parking Description: Free street parking in front, municipal parking lot in rear
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Interior Description: Interior has several combo heating/ac units, hardwood floors in part of building and a partial basement. The building used to be 3 separate units and possible to split again.
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,748 14,468 19,560
Median Age: 35.21 38.51 39.66
Households: 690 5,705 7,672

Contact

Photograph of Listing Agent

Ryan Rider

Berkshire Hathaway
CARWM Member
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