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Property profile & analytics
OFF-MARKET
Commercial real estate

203 Main St Ishpeming, MI 49849-2018

12,726 SF 0.09 ac lot Built 1888
Entity Owned Absentee Owner Free & Clear
Property ID
US43-2356588
Property summary
AI-generated overview

This stunning 12,915 square foot Jacobsville Sandstone building, located at 203 S Main in downtown Ishpeming, Michigan, presents a unique redevelopment opportunity. The historic Anderson Block building boasts an array of original features, including exquisite woodwork, hardwood floors, intricate moldings, period doors and hardware, and a magnificent custom ceiling and staircase. A highlight is the third-floor ballroom, adding to the building's character and potential. Significant recent improvements include a new roof and a state-of-the-art fire suppression system, along with an extensive interior cleanup. To facilitate a smooth transition, pre-existing architectural plans are available for purchase, encompassing both retail and residential space options. These plans offer a solid foundation for future development. The property also includes an additional lot, providing ample parking. The building's prime downtown location and rich history make it an ideal candidate for adaptive reuse, potentially transforming the Ishpeming area. The 0.18-acre lot provides flexibility for various development scenarios. Prior grant opportunities existed for renovations, offering potential avenues for future funding. Priced at $199,500, this is a chance to acquire a piece of Ishpeming's history and shape its future. Detailed plans and further information are available upon request.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1888
Total area 12,726 SF
Lot 0.09 ac (3,884 SF)
Zoning code CBD
APN 52-51-050-040-00
UPID US43-2356588
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Historic Anderson Building Tour Operator
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history
WEST ISHPEMING SAND LLC
WEST ISHPEMING SAND LLC
Zoning & alternative use
CBD · Ishpeming, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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