2920 Connon St Alpena, MI 49707
This exceptional 3,748 square foot Alpena, MI business opportunity presents a unique investment prospect. Currently configured as a ten-bedroom nursing home, the property sits on a 0.32-acre lot at 2920 Connon Street. The building boasts ten generously sized bedrooms, a well-equipped kitchen, and two separate dining areas, providing ample space for residents or potential future uses. Two and a half bathrooms add to the convenience. Included in the sale are essential appliances: a stove, refrigerator, dishwasher, washer, and dryer. Accessibility features are in place, including a front ramp entry, a covered side entry, and four conveniently located access doors. Two outdoor sheds offer additional storage space. While the building could benefit from some minor cosmetic updates ("TLC"), it is ready for immediate occupancy, with a 30-day occupancy period following closing. The property's established history as a nursing home provides a solid foundation for continued operation or a creative repurposing. This presents a compelling opportunity for an investor seeking a turnkey business or a developer looking to capitalize on the property's potential. The asking price is $225,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
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.