45 N Main Street

Retail-Commercial for Sale
Catylist Listing ID: 30724221
Property Subtypes: Mixed Use, Restaurant
Building Size (RSF): 4,872 SF
Gross Building Area: See Agent
Gross Land Area: 0.06 Acres
Sale Price: $360,000
Unit Price: $73.89 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/10/2021

Overview / Comments

Charming turnkey restaurant for sale in Downtown Three Rivers! The first floor of the building was fully renovated in 2019 and features well designed restaurant space with a historic feel. The building was originally constructed in the civil war era and features a restored original tin ceiling, ornate tin wall, exposed brick, new windows, new exterior fa├žade, new ADA restrooms, and the original (refinished) hardwood floors. Part of the kitchen is located in the basement of the space, which is in very usable and clean condition. The second floor features two (2) renovated apartments (grossing $1,300 a month combined). There is a one-bedroom, one bath apartment and a two bedroom, one bath apartment. Both apartments have laundry hook-ups. Listing price is turnkey for another restaurant operator. Price includes the real estate, FF&E, and redevelopment liquor license. Third floor offers potential for a future third apartment. Free city parking on-street and behind the building with new ramp installed last year.

Additional Details

Nearest MSA: Sturgis
County: Saint Joseph
Taxing Authority: City of Three Rivers
Tax ID/APN: 051 156 007 00
Zoning: B-3
Property Visibility: Excellent
Feet of Frontage: 25
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 3
Property Condition: Excellent
Year Built: 1895
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Zoning Description: B-3
Lot Frontage: 25
Lot Depth: 100
Water Service: Municipal
Sewer Type: Municipal
Legal Description: LOT 5 EXC N 6 IN OF W 75 FT BLK 49 3/4 PORTAGE ADD CITY OF THREE RIVERS ANDREWS PLAT. (DESC OF EASE; NORTHEASTERLY 50 FT+/- OF THE ABOVE DESC.)

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,447 12,962 15,792
Median Age: 32.73 36.27 37.03
Households: 1,359 5,067 6,136

Contact

Photograph of Listing Agent

Kara Schroer

NAI Wisinski of West Michigan
CARWM Member
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