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    1335 Center St Ithaca, MI 48847

    For Sale
    $1,000,000

    Established Restaurant, High Visibility, US-127 Access

    Property size:
    3,350 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional commercial property, located at 1335 E Center St in Ithaca, Michigan, presents a unique investment opportunity. The 3,350 square foot building, constructed in 1998, is currently operating as a restaurant but offers significant redevelopment potential. Situated on a 1.97-acre lot with ample parking (51 spaces), the property boasts excellent visibility and accessibility from US-127, specifically at the Business-127 exit. The C-2 General Commercial zoning allows for a variety of uses, making it ideal for a new restaurant concept, or conversion into a single or multi-tenant retail development. The asking price is $1,000,000, translating to $298.51 per square foot. The property's APN is 52-060-304-00. This prime location in Gratiot County (zip code 48847) offers high traffic counts and strong potential for future growth. Land contract terms are available for qualified buyers. This is a rare opportunity to acquire a well-positioned commercial property with significant upside potential in a thriving Michigan community. The property's class is C.

    Property Features for 1335 Center St

    General Information

    Property type
    Restaurants
    Square Feet
    3,350 SF
    Class
    C
    Lot Size
    85,813 SF

    Building Details

    Year Built
    1998

    HighLights

    • Established restaurant with redevelopment potential for new retail concepts.
    • High visibility location at US‑127 exit onto Business‑127.
    • Land contract financing options available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Great Lakes Family ... Family Restaurant Bon's Burgers Hamburger Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ithaca
    County
    Gratiot
    State
    Michigan
    Longitude
    -84.5840768
    Latitude
    43.2920648

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    FAQs

    What type of property is this?
    Restaurant - Established Restaurant, High Visibility, US-127 Access
    Where is this restaurant located?
    The property is located at 1335 Center St Ithaca, MI.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: Established restaurant with redevelopment potential for new retail concepts.; High visibility location at US-127 exit onto Business-127.; Land contract financing options available.
    Request Owner's contact information
    1335 Center St Ithaca, MI 48847
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1335 Center St Ithaca, MI 48847
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