Property summary
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
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
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…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Value estimation
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from $99/month
Cap rate
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from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
CBD · Ishpeming, MI15.0 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…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
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…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CBD in Ishpeming, MI.
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