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Listed by II GEMINI, LLC
$299,900
Est. payment /mo
13,632 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 13,632 sqft
Price per Sqft $21
MLS Listing ID 1946110
Year Built 1987
Lot Size 0.380 Acres
Acres 0.38
Property Sub-Type Retail
Property Description
Fully occupied downtown Ithaca commercial investment property located at 108 E. Center Street, commonly known as The Village Shoppes. This distinctive brick commercial building was built in 1987 and features excellent downtown frontage, multiple tenant spaces, attractive common areas, and a unique interior “village street” layout with storefront-style suites. The property totals approximately 13,600 square feet and is situated on a 100' x 165' lot. The building is currently 100% occupied with six tenant spaces and scheduled annual rent of approximately $65,600. Current tenants include a mix of office, retail, and service-oriented users. The property is zoned Downtown Commercial and includes a standard elevator serving all floors. Street parking and nearby municipal parking are available. Utilities are landlord paid. Financial information, rent roll, and pro-forma are available in the listing documents. Based on the seller's pro-forma, the property is being offered at an approximate 9% pro-forma cap rate. Seller financing or land contract terms may be considered. Buyer to verify all property information, square footage, leases, expenses, taxes, zoning, utility arrangements, permitted uses, and pro-forma assumptions.
Location
State MI
Interior
Heating Forced Air, Hot Water, Natural Gas
Exterior
Waterfront Description Public
Roof Type Asphalt
Garage false
Building
Foundation Block
Sewer Public Sewer
Water Public
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Kyle O'Grady
Team Leader, REALTOR® | License ID: 6501407456
Team Leader, REALTOR® License ID: 6501407456