323 W Wright Ave 7 Unit Apartment Building $489,000 ($69,857/Unit) Shepherd, MI 48883

323 W Wright Ave presents a historic mixed-use investment and redevelopment opportunity in downtown Shepherd, Michigan. Originally constructed in 1876 and associated with the community's early development, the property contains approximately 5,200 square feet on a 0.68-acre site. The asset is currently under renovation, creating an opportunity for investors, developers, or owner-users to complete improvements and reposition the property for a variety of income-producing uses.
Located along West Wright Avenue near Shepherd's traditional downtown area, the property benefits from local visibility and convenient access to the surrounding Central Michigan region. The existing structure has historically supported multiple residential units and offers a layout that may accommodate a range of future configurations, subject to zoning, approvals, and a purchaser's redevelopment plans. The large site provides additional flexibility for outdoor amenities, parking, or complementary site improvements.
The combination of historic character, ongoing renovation activity, and potential for multiple income streams distinguishes the property from conventional investment offerings. Buyers have the opportunity to capitalize on restoration efforts already underway while tailoring the final product to their operational or investment objectives. Whether pursued as a multifamily asset, mixed-use property, hospitality-oriented concept, or owner-occupied investment, the property offers a foundation for long-term value creation through thoughtful redevelopment and adaptive reuse.