251 Center Street, South Haven, MI 49090 (MLS# 15032579)

MIXED-USE REDEVELOPMENT OPPORTUNITY – Located in downtown South Haven's TIF District, this site offers 16 buildings totaling approx. 30,509 SF of street-front retail and former upper-level apartment units on 5 parcels totaling approx. 0.64 acres. Property is currently occupied by 8 tenants with flexible lease terms to allow for Buyer flexibility. Site is well located adjacent to Clementine's Restaurant and near the South Haven Yacht Club, Hotel Nichols, Idler Riverboat-Magnolia Grill, Old Harbor Inn, Black River Harbor and public beaches.

Supplements: Property may qualify for South Haven DDA financial incentives subject to Buyer verification with City. All leases are Gross, plus utilities. All lease terms run through 2019, except for Johnny's Lakeshore Jewelry, which runs through June 2021. Renewal terms to remain flexible. Real Property Taxes for 2017/2018 were approx. $43,000. Current in-place Gross Income, before expenses, is budgeted at approx. $120,000 for 2018. Additional historical financial information will be provided with executed Purchase Agreement. Sale may be subject to Court approval. Property includes 251-269 Center Street, 505 Phoenix Street and 508 Quaker Street. All information contained herein is subject to Buyer's verification. Property to be sold in "As is" "Where is" condition with all faults. Possession subject to Tenants' rights.