203 Main St Ishpeming, MI 49849-2018
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.
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Historic Anderson Building Tour Operator
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
CBD · Ishpeming, MIIshpeming. Always verify with local authorities before improvements.
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.