$889,900
512 N Lincoln Street Bay City, MI 48708
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$889,900
Est. payment /mo
28,640 SqFt
Active
512 N Lincoln Street Bay City, MI 48708
UPDATED:
04/21/2024 05:16 PM
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 28,640 sqft
Price per Sqft $31
MLS Listing ID 50138460
Year Built 1890
Annual Tax Amount $10,307
Tax Year 2023
Lot Size 1.730 Acres
Acres 1.73
Lot Dimensions Irregular
Property Description
Owning a piece of history like the original Bay City Academy is an incredible opportunity! The combination of historical charm and modern amenities make it a versatile investment. With 23 rental units and 5 office spaces, there's already a solid income stream in place, and the potential to convert additional rooms into income-generating spaces adds even more value. The building's 1890s architecture, with its original oak trim and mirror staircases, adds a unique character that's hard to find in newer constructions. The vaulted ceilings and archways further enhance its appeal, creating a sense of grandeur and elegance. It's fascinating to hear about the original chapel, repurposed as office space, and the secret staircase used by the priest. These historical touches add to the building's allure and provide a glimpse into its rich past. With recent updates like the refurbished boilers (2024) and new roof (Dec 2023), along with regular maintenance of the Otis elevator, it's clear that the property has been well-cared for and is ready for its next chapter. Investing in such a property not only provides a solid financial opportunity but also allows the owner to become a part of local history, preserving and maintaining a piece of Bay City's heritage for generations to come.
Location
State MI
County Bay
Area Bay City (09016)
Zoning Commercial
Interior
Heating Hot Water
Exterior
Garage 21+ Spaces, Off Site, Parking Lot
Waterfront No
Roof Type Shingles
Building
Foundation Basement
Water Public Water
Others
Ownership Private
Energy Description LP/Propane Gas,Natural Gas
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Berkshire Hathaway HomeServices, Bay City
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