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214 N Mitchell Street, Cadillac, MI – $410,000

  • $410k Price
  • 15,000 Sqft
  • .33 Acres
  • $410k Price
  • 15,000 Sqft
  • .33 Acres

214 N Mitchell Street

INVESTORS, get in on the growth of Downtown Cadillac with this income producing property! The 15,000 square foot building, which is two separate properties, already have leases in place for two of the major sections, and then seven hotel rooms that generate a nice cash flow. The one building underwent major renovations in the late 1980's, and has been continually updated along the way. In 2016 the center portion underwent a major renovation and is home to Table 212, a wine bar. The main building is home to a long standing restaurant and upscale bar, Hermann's European Inn and Restaurant, the restaurant runs the wine bar and butcher shop as well. Upstairs is host to the seven hotel rooms, a maintenance room, and then 2900 square feet of office space which is also rented.Currently the property has approximately a 15% CAP rate. There is a lot of building and income options here for the serious investor!

Essential Information

  • MLS® #20003766
  • Price$410,000
  • Bathrooms0.00
  • Full Baths12
  • Square Footage15,000
  • Acres0.33
  • Year Built1905
  • TypeCommercial
  • Sub-TypeRetail/Commercial
  • StyleUnknown
  • StatusActive

Community Information

  • Address214 N Mitchell Street
  • AreaZ10
  • SubdivisionCadillac City
  • CityCadillac
  • CountyWexford
  • StateMI
  • Zip Code49601

Amenities

  • FeaturesBarrierFree Features

Utilities

Electric, Telephone, Natural Gas

Interior

  • HeatingBaseboard, Forced Air
  • CoolingCentral
  • # of Fireplaces2
  • # of Stories3

Exterior

  • ExteriorBrick/Stone
  • Lot Description100 x 144
  • RoofRubber
  • ConstructionBlock

School Information

  • DistrictCadillac
  • Elementary100 x 144
  • MiddleLong Legal on File

Listing Details

  • Listing AgentGreg Bosscher
  • Listing OfficeFive Star Real Estate Cadillac
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Copyright 2020 MichRIC, LLC. All rights reserved. Information Deemed Reliable But Not Guaranteed

Listing information last updated on April 7th, 2020 at 2:00pm CDT.