Property profile

106 Canda St Ishpeming, MI 49849

OFF-MARKET
Commercial real estate
Property ID
US43-2442350
2,942 SF 0.12 ac lot Built 2021
Individually Owned 16-yr Hold Free & Clear
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Property summary

AI-generated overview

This 7,292 square foot industrial building, situated on a 0.12-acre lot in Ishpeming, Michigan, presents a unique investment opportunity. Currently configured as a self-storage facility on the main floor, it boasts durable terrazzo flooring and two convenient loading docks for efficient operations. Security is enhanced by a recently updated camera system, and access is controlled via a door code system on the front entrance. The roof is a newer rubber roof, ensuring long-term durability and reduced maintenance costs. The upper level, a former community hall, offers expansive high ceilings and open space, presenting a multitude of redevelopment possibilities. This area, which includes a kitchen, has been unused for several decades and could be transformed into a rental space, apartments, or any other suitable use. The building's versatility makes it ideal for a variety of commercial ventures. Furthermore, this property may be eligible for grants, making it an even more attractive investment for prospective buyers. This is a chance to acquire a substantial property with significant upside potential and create a thriving business. The building is ready for its next chapter, waiting for an investor to realize its full potential.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 2021
Total area 2,942 SF
Lot 0.12 ac (5,079 SF)
Zoning code CBD
APN 52-51-102-003-00
UPID US43-2442350

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

106 Canda St Ishpeming, MI 49849-1919
Ishpeming metro Census 1900 MARQUETTE, MI MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
by Request
Blend (final) Blend
$235k

Owner & transaction history

since 2009
1 recorded transaction
2009
Price N/A

Zoning & alternative use

CBD · Ishpeming, MI
Zoning description

15.0 SECTION 15.0: (CBD) CENTRAL BUSINESS DISTRICT 15.1 Intent: To establish and provide flexible regulations that apply to businesses serving a local or regional market and located in the core area of the City, where in…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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