Historic Downtown Adrian Building

Retail-Commercial for Sale
Catylist Listing ID: 30671856
Property Subtypes: Street Retail, Other
Building Size (RSF): 13,000 SF
Gross Building Area: See Agent
Gross Land Area: 0.16 Acres
Sale Price: $240,000
Unit Price: $18.46 PSF
Property Use Type: Vacant/Owner-User
Usable Size (USF): 13,000 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/11/2021

Overview / Comments

Historic downtown Adrian building that was updated in 2004 and 2011. The updates include electrical service, plumbing (ADA compliant restrooms), HVAC systems, facade restoration and structural improvements. There are 2 heating systems, one for the north half of the building and one for the south half of the building, which would aid if you wanted to divide the building into two storefronts. This building has been well maintained and has had extensive renovations over the years. Open floor plan allows for easy renovation for future use.

Property highlights - 3 levels and basement with a unique interior design. The first floor interior is 7,150 sq. ft. The second floor is 2,600 sq. ft. and the third floor 3,250 sq. ft. Great parking with both street and municipal parking lot off the rear entrance to the building and an overhead door for deliveries.

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $7,862 (Annual)
Assessed Value - Total($) $81,700 (Annual)
Finance Data Year 2019
Real Estate Taxes - Annual($) $5,037 (Annual)
Assessed Value - Total($) $78,500 (Annual)

Additional Details

Nearest MSA: Adrian
County: Lenawee
Taxing Authority: City of Adrian
Tax ID/APN: XA0-100-0267-00
Retail Clientele: General, Family, Business, Tourist, Other
Property Visibility: Good
Feet of Frontage: 67
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 7,000 SF
Property Condition: Good
Year Renovated: 2011
Parking Type: Surface
Parking Description: Street and municipal lot off the rear entrance to the building
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable, DSL, Satellite
Zoning Description: Central Business
Lot Frontage: 67
Lot Depth: 105
Water Service: Municipal
Sewer Type: Municipal
Legal Description: PART OF LOT 44 ORG PLAT BEG 105.5 FT N FROM NE COR CHURCH & MAIN STS TH ELY 105 FT 1 IN TO ALLEY TH NLY TO A PT WITHIN 1 FT OF N LN SD LOT TH WLY 105 FT 1 IN IN THE SLY TO POB

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,693 27,261 40,189
Median Age: 34.75 35.52 37.52
Households: 4,541 9,309 14,211

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