2 Main StThree Rivers, MI 49093

  • Commercial real estate
  • 3,048 SF
For Sale
$160,000 View listing

Property Details for 2 Main St

Year built
1850
Lot size
0.04 AC
Property size (Sq ft)
3,048 SF
Zone code
B-3
Property type
Commercial real estate
APN
051-199-002-00
APU
5119900200

Description

This exceptional commercial property, located at 2 N Main Street in the heart of historic downtown Three Rivers, Michigan, presents a unique investment opportunity. Priced at $160,000, this beautifully restored three-unit building offers immediate rental income and high visibility. The property boasts a prime corner location on a main thoroughfare, ensuring excellent exposure for any business. The ground floor features a spacious 1100 square foot storefront space, complete with an accessible restroom, new laminate flooring, preserved original woodwork, fresh paint, and updated lighting. This area is ideal for a variety of commercial uses, offering an owner-occupancy option or the potential for leasing to a tenant. Above the storefront, the building includes two one-bedroom, one-bathroom apartments, each with a long-term rental history, providing a consistent stream of passive income. Detailed information on recent updates and features is available in supplemental documents. This property represents a rare chance to acquire a meticulously maintained, historically significant building in a thriving downtown area, combining the benefits of commercial space with the security of rental income. The 0.04-acre lot provides ample space for the building and potential future development. Don't miss this chance to own a piece of Three Rivers history and secure a strong investment. The property is located in St. Joseph County, Michigan, zip code 49093.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $656,175
    Hospitality
    $601,052
    Educational
    $500,069
    Medical
    $517,267
    Retail
    $777,884

Location Insight

City
Three Rivers
County
St. Joseph
State
Michigan
Latitude
41.944
Longitude
-85.6331
CBSA code
44780
CBSA name
STURGIS, MI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$1,317
$3,600
$55,900
$59,500
-
$7,200
$111,800
$119,000

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