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Property profile & analytics
OFF-MARKET
Investment properties

2920 Connon St Alpena, MI 49707

3,748 SF 0.32 ac lot Built 1933
Property ID
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Investment properties
Year built 1933
Total area 3,748 SF
Lot 0.32 ac (13,939 SF)
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
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Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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