142 E Center St, Ithaca city, Michigan

About 142 E Center St

142 E Center in Ithaca presents a unique investment opportunity for those seeking versatility and potential in a bustling location where approximately 7,000 cars drive by daily. This three-story building currently has 3 tenants for a combined monthly rental income of 1,350 with the potential for 2 additional tenants. The ground floor was previously used as a restaurant, boasting a seating capacity of 118, 2 bathrooms, and all equipment included for immediate operation. The restaurant was paying approximately 400/month in rent and the tenant paid all utilities on their own (water, gas, electric). The other half of the ground floor features a 2 room office with 1 bathroom at approximately 325/month. For this unit, the owner paid the utilities and the tenant reimbursed. On one half of the 2nd level there is a 1 bed, 1 bath residential unit at approximately 625/month and the owner pays the utilities and the tenant reimburses. The furnace in this unit was recently rebuilt. The other half of the 2nd floor features a tie-dye studio with 1 bath room at 400/month and the tenant pays all utilities on their own. The third and final floor was used as a photo studio at 200/month. All tenants are on month-to-month leases, allowing for adaptability and increased income potential. There is a new AC upstairs as of 2024 and a new furnace downstairs as of 2024. Taxes are estimated to be 3,500/year. Whether you're an investor or an entrepreneur, 142 E Center stands as an exciting opportunity in a prime Ithaca location! BTVAI

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