Downtown Chelsea Mixed-Use Bldg For Sale

Retail-Commercial for Sale
Catylist Listing ID: 30589092
Property Subtypes: Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other
Building Size (RSF): 8,668 SF
Gross Building Area: See Agent
Gross Land Area: 0.15 Acres
Sale Price: $1,200,000
Unit Price: $138.44 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/13/2020

Overview / Comments

Handsome downtown Chelsea investment property! Great Main Street location w/ large retail space. Currently Vogel's & Foster's Department Store (since 1910!). Hardwood floors & large storefront windows (could be two separate retail spaces).

2nd floor has 2 leased apartments and space for a third one.

Additional Details

Nearest MSA: Ann Arbor
County: Washtenaw
Submarket/Township: Washtenaw W of 23
Taxing Authority: City of Chelsea
Tax ID/APN: 06-06-12-183-031
Zoning: C5
Retail Clientele: General, Family, Business, Tourist, Convention, Other
Property Located Between: E Middle Street & Park Street
Property Visibility: Excellent
Largest Nearby Street: E Middle Street
Feet of Frontage: 45
Highway Access: I-94
Airports: Ann Arbor Airport, Willow Run & Detroit Metro
Area Description: Downtown Chelsea, walk to local shops, restaurants and entertainment.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Built: 1870
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface, Other
Parking Description: On street & public parking w/ City of Chelsea lot in rear of property.
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable
Zoning Description: Chelsea’s Central Business District is characteristic of a small, historic downtown with a mixture of uses situated in a compact, pedestrian-oriented community. Uses in the Central Business District include retail, restaurants, personal service establishments, office, and limited second-story residential. While a majority of the Central Business District uses tend to be pedestrian-oriented, there are a few sites with multiple curb cuts or front yard parking lots that create gaps in the traditional pedestrian-oriented downtown framework. Many of the structures in the Central Business District are historically significant. Examples include the Welfare Building, the train depot, and the Clock Tower Complex. These buildings possess historic architectural elements and character. The redeveloped space within the Clock Tower Complex has enhanced the Central Business District by providing new and viable commercial space in the downtown, serving as a valuable example of adaptive reuse.
Lot Frontage: 44
Lot Depth: 128
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Easements Description: provided with title commitment
Land Ownership: owned
Legal Description: BEG AT NW COR LOT 3, TH E 145.86 FT TO W LN LOT 45, TH S 20 DEG E 46.86 FT, TH W 161.7 FT TO W LN LOT 4,TH N 44 FT TO POB, PART LOTS 3 4, 9, 10, 11 & 46 BLK 3 ORIGINAL PLAT SPLIT ON 01/08/2001 FROM FC-06-12-183-015 & FC-06-12-183-014;

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,944 4,944 16,752
Median Age: 44.62 44.62 44
Households: 2,224 2,224 6,448

Contact

Photograph of Listing Agent

James H. Chaconas

Colliers International
CPIX Member
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