542 W Front Street

Description

Revised (4/25/2023) to reflect that Seller alternatively would lease property at $20 SF on a NNN basis. Seller is willing to entertain a land contract with 25%-30% down, for 3-5 years, at a below-market interest rate dependent on the overall offer. Great opportunity to purchase a fabulous building at a great corner on West Front Street. This listing is for real estate only. Present location has the history of being a liquor store for approximately six decades -- and was the first in the area to offer lottery (locals remember when lines would form on big jackpot days). The listing includes the parcel at 542 West Front Street, which includes the existing building, as well as a separate designated 118 N Maple. The second lot can be used for excess parking or can be (with City consent) combined with the primary parcel in expanding the footprint of the existing building (or building a new structure). The current owner has had preliminary discussions with the City about demolishing the existing structure and replacing it with a mixed commercial/residential 4-story building. Property is zoned C-2. Seller is willing to entertain a land contract with 25%-30% down, for 3-5 years, at a below interest rate dependent on the overall offer. Seller is a licensed real estate agent in the State of Michigan.