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

251 Center Street, South Haven, MI 49090

$1,300,000

Property Type: Commercial Sale Square Footage: 30,509 Lot Size (sq. ft.): 27,791 Status: Sold

Current Price: $1,300,000 List Date: 7/18/2018 Last Modified: 10/28/2021

Overview

Description

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- ... (Read more)

Listing Details MLS# 15032579

Location Property Info

County: Van Buren
Street #: 251
Street Name: Center
Suffix: Street
State: MI
Zip Code: 49090

General Property Info

New Construction: No
Lot Measurement: Acres
Lot Acres: 0.64
Lot Square Footage: 27791
Lot Dimensions: Irregular
Year Built: 1900
Road Frontage: Yes
Total # Units: Yes
# Fin Bldg Lvls: 2
Total # Bldgs: 16
Total SqFt: 30509
Total Net SqFt: 30509
Property Use Type: Investment
Waterfront: No
School District: South Haven

Tax Info

Tax ID #: 805377000400
Taxable Value: 670324
SEV: 755700
For Tax Year: 2018
Seller's Annual Property Tax: 42796
Tax Year: 2017
Spec Assessment & Type: None known
Non-Conforming Use: No
Zoning: CBD
Homestead %: 0

Remarks Misc

Directions: East side of Center Street between Quaker Street & Phoenix Street

Status Change Info

Under Contract Date: 2018-12-21
Sold Date: 2019-05-01
Sold Price/SqFt: 42.61

More Information

Location & Property Info

Cross Streets: Quaker Street & Phoenix Street
Property Sub-Type: Retail
Area: Southwestern Michigan - S
Municipality: South Haven City

Office/Contract Info

Auction or For Sale: For Sale
List Price/SqFt: 49
Prop Avail for Lease?: No

Remarks & Misc

Legal: See Attached

Street Type

Paved: Yes
Public: Yes

Utilities Attached

Cable Connected: Yes
Electricity Connected: Yes
Natural Gas Connected: Yes
Phone Connected: Yes

Sewer

Public Sewer: Yes

Water

Public Water: Yes

Uses

Bar/Tavern/Lounge: Yes
Institutional: Yes
Professional Service: Yes
Professional/Office: Yes
Recreation: Yes
Restaurant: Yes
Retail: Yes
Other: Yes

Construction Type

Frame/Wood: Yes

Heat Source

Natural Gas: Yes

Sale Conditions

None: Yes

Below Grade

Basement: Yes
Partial: Yes

Heat Type

Forced Air: Yes

Air Conditioning

Central Air: Yes

Business Includes

Non-Applicable: Yes

Util Avail at St

Cable Available: Yes
Electricity Available: Yes
Natural Gas Available: Yes
Phone Available: Yes

Send to Econ Dev Org

MEDC: Yes
SWMI First, Region 5: Yes

Purchase Terms Avail

Cash: Yes
Conventional: Yes

Possession

Close Of Escrow: Yes

Property Features

Uses: Bar/Tavern/Lounge; Institutional; Professional Service; Professional/Office; Recreation; Restaurant; Retail; Other Business Includes: Non-Applicable Construction Type: Frame/Wood Below Grade: Basement; Partial Sewer: Public Sewer Water: Public Water Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected Util Avail at St: Cable Available; Electricity Available; Natural Gas Available; Phone Available Heat Source: Natural Gas Heat Type: Forced Air Air Conditioning: Central Air Street Type: Paved; Public Purchase Terms Avail: Cash; Conventional Sale Conditions: None Send to Econ Dev Org: MEDC; SWMI First, Region 5 Possession: Close Of Escrow

Listing Office: Bradley Company

Listing Agent: Jodi K Milks

Last Updated: October - 28 - 2021

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