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Investment Highlights
- Located in the heart of Big Rapids, Michigan.
- Upgraded HVAC System, plumbing and electrical services.
- Excellent opportunity for both owner/users and investors to acquire a spacious retail space with a 50-space parking lot in Downtown Big Rapids.
Executive Summary
A 10,500 SF retail building located on North Michigan Avenue in the heart of Big Rapids, Michigan. This property presents an excellent opportunity for both owner/users and investors to acquire a spacious retail space with a 50-space parking lot in Downtown Big Rapids. The building has a rich history, having previously served as a Sears & Roebuck and a grocery store. It has been meticulously maintained, featuring a recently installed new roof. Additionally, the previous tenant upgraded the HVAC system, plumbing and electrical services. The building offers a mostly completed redesigned and built-out main street entrance, featuring ADA compliant restroom, a welcoming reception area, conference space, and multiple office & storage areas. The spacious central portion of the building includes two locker rooms with showers, ideal for employee or customer use. A separate back area of the building provides the flexibility to accommodate another business or tenant. Additionally, this property comes with a second designated lot, paved for parking and offers convenient alley access for easy ingress and egress. Current owner has freshly power washed & painted the exterior recently. Immediate possession available after closing. There is an existing gym currently operating in the back 2,000 sf of the building (this area has an additional customer restroom specific to this business). Gym equipment is being sold separately.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
High Vacancy Property
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,500 SF
Building Class
C
Year Built
1955
Price
$449,900
Price Per SF
$42.85
Tenancy
Single
Building Height
1 Story
Building FAR
0.40
Lot Size
0.60 AC
Opportunity Zone
Yes
Zoning
DB - Downtown Business
Parking
50 Spaces (4.76 Spaces per 1,000 SF Leased)
Fairly walkable
50/100
Very drivable
80/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 5417-011-353-012 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $167,000 |
Property Taxes
Parcel Number
5417-011-353-012
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$167,000
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