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242 1st St 3,411 SF 100% Leased Retail Building Copper Harbor, MI 49918 $849,000 ($248.90/SF)



Investment Highlights
- A town favorite gift and memorabilia shop that has a great history in the Harbor among locals and visitors!
- Lots of nature to enjoy and a quaint town at the start of Highway US41!
- The town of Copper Harbor attracts many visitors with the bike and recreational trails, point of access to go to Isle Royale and more!
Executive Summary
BUSINESS OPPORTUNITY IN COPPER HARBOR! A town favorite gift and memorabilia shop that has a great history in the Harbor among locals and visitors! The retail store has a nice atmosphere with tongue and groove walls and hardwood floors. There is a bathroom for the retail area. The living quarters is attached to the retail area with direct access but still has the feel of being separate with its private fenced in porch/deck and yard area. The main floor of the living quarters has open living, kitchen, dining area and also a den/living area that could be a 4th bedroom. Upstairs there are 3 bedrooms and a full bathroom. The workshop/storage building (792+/- square feet) is located in the side yard. There is some off-street parking for customers and residents. If the living quarters isn't needed for you to run the business, maybe it could be a rental (subject to buyer verification with township/county ordinances), an adiditional complimentary business, or additional retail space. Property includes a Generac generator (2021). The town of Copper Harbor attracts many visitors with the bike and recreational trails, point of access to go to Isle Royale and more! Lots of nature to enjoy and a quaint town at the start of Highway US41! NOTICE: All information believed accurate but not warranted. Buyer recommended to inspect & verify all aspects of the property & bears all risks for any inaccuracies including but not limited to estimated acreage, lot location/size, square footage, utilities (availability & costs associated). Real estate taxes are subject to change (possibly significant) & municipality reassessment after sale. Buyer should NOT assume that buyer’s tax bills will be similar to the seller’s current tax bills. Taxes are not zero. Audio/video recording devices may be present on property and entering the property shall be considered consent to be recorded. OFFERS: 72 hours response time requested on offers. Seller, at seller's sole discretion, with or without notice, reserves the right to set and/or modify offer submission & response deadlines. Heat/Cooling: Propane forced air is for the retail and main floor of living quarters. Electric Heat: 2nd story of living quarters. SHOWINGS BY APPOINTMENT ONLY: Please schedule showings to avoid distruption of business operations. Prequalified buyers only and non-disclosure agreement is required. Thank you! Also listed as MLS 50188822
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,411 SF
Building Class
C
Year Built
1977
Price
$849,000
Price Per SF
$248.90
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.26
Lot Size
0.30 AC
Opportunity Zone
Yes
Zoning
OC - Other Commercial
Parking
2 Spaces (0.59 Spaces per 1,000 SF Leased)
Frontage
114’ on 1st ST
Property Taxes
| Parcel Number | 310-52-002-016 | Improvements Assessment | $87,576 |
| Land Assessment | $44,500 | Total Assessment | $132,076 |
Property Taxes
Parcel Number
310-52-002-016
Land Assessment
$44,500
Improvements Assessment
$87,576
Total Assessment
$132,076
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242 1st St
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