Historic Mixed-Use Property | Retail/Airbnbs 323 W Wright Ave 4,000 SF 100% Leased Retail Building Shepherd, MI 48883 $489,000 ($122.25/SF)

Rare Historic Mixed-Use Opportunity Main Street Location – This well maintained historic building offers excellent income potential in one of Central Michigan’s most desirable areas. Currently configured as a successful mixed-use property with cash flow from both commercial and short-term rental uses. Current Configuration: Main floor: Operating retail/wellness shop
Upper floors: Two fully functional and furnished Airbnb rental units
Flexible History:
Previously used as four separate apartment rentals, providing multiple options to convert back to traditional multifamily, student housing, or expanded commercial space. Prime Location Advantages: Adjacent to a family-friendly park
Directly across from popular restaurants and thriving businesses
Within 10 minutes of Central Michigan University (CMU)
Less than 10 minutes from Soaring Eagle Casino & Resort
Convenient access to Alma College
Close to US127, easy on and off access
Site Features: Large dedicated paved parking lot
Additional expansive open lot on the west side (perfect for extra parking, events, or future expansion)
This property benefits from multiple demand drivers including university students, casino tourism, local residents, and visitors. The combination of historic charm, versatile layout, abundant parking, and high-visibility location makes it a standout investment or owner-user opportunity in Mount Pleasant. Ideal for investors seeking immediate returns through the existing retail tenant and Airbnbs, or for those looking to maximize returns through reconfiguration. Contact the owner today for more information or to schedule a private showing. Listed on local MLS with an agent as well.