MLS Public Remarks Excellent income property for sale in Portage. Perfect location and the exposure is unbelievable. Over 12,000 cars drive by this building everyday. There are four rental units in the building. There are three upstairs apartments and one main level area currently being used as a popular restaurant. The building has never had any vacancies. This is a family owned building that has been very well maintained and updated over the years. The current owners purchased the building in 1998. They take pride in ownership. You will see when you walk through. Call today to set up a private showing with the owner. The annual rent for all four units is $48,000. This is an investors dream property.
Location City
Other Marketing Area
Mailing City Portage
C/T/V City
Unit #
Directions From Highway 51, North On Dewitt To The Corner Of Dewitt And Cook. (highway 51 & 33)
Real estate for sale Yes
Business for sale No
For lease only No
Ann. Rent/SqFt $0
Total Units/Bldg 4
Building Gross SqFt 11,454
Net Leasable SqFt 11,454
Year Built 1873
Source for Year Built Slr
Approx Bldg Dimen 46x83
Street Frontage 130
Parking Fees/Mo. $0
Onsite Parking Street
# of Stories 2
Ceiling Height Min 14
Ceiling Height Max 14
Number of Loading Docks 0
Zoning Commercial
Est. Total Acres 0.7
Source Of Est Acres PubR
Lot Dimensions 3,049
Owner
Tradename The Corner Pocket Bar
Land Assessment $7,000
Assessment Year 2019
Net Taxes $5,123
Tax Year 2019
Improvements $190,300
Total Assessment $197,300
Income/Expenses Year $0
Gross Operating Income $0
Annual Operating Exp $0
Net Operating Income $0
Unit |
Lease Type |
Lease Exp. Date |
Renewal Option |
Base Annual Rent |
Annual Rent/SqFt |
Other Fees/SqFt |
Gross SqFt |
1 |
Yearly |
Yearly |
Yes |
$1,000 |
$0 |
$0 |
1,000 |
2 |
Monthly |
Monthly |
Yes |
$750 |
$0 |
$0 |
800 |
3 |
Yearly |
Yearly |
Yes |
$700 |
$0 |
$0 |
800 |
Items Included The fourth rental unit is the restaurant area (3,818) The rent for the restaurant is $1,550 monthly. The owner has indicated that the unit is currently being under rented. Other buildings in Portage that are approximately the same size rent for 2-4 times the $1,550 number.
Items Excluded All personal property
Heating/Cooling Central air, Wall Furnace
Water/Waste Municipal sewer, Municipal water
Basement Full, Poured concrete foundatn
Fuel Natural gas
Seating Capacity 51-75 persons
Type Apartment building, Restaurant/Supper Club
Exterior Treatment
Building Parking Onsite
Roofing All flat, Metal, Rubber/membrane
Terms/Option
Miscellaneous
Documents on File Fixtures & equipment, Inventory list, Lease(s), P & L statement, Property Condition Report
Location Business district, Corner, Near Major Highway
Tenant Pays N/A
Present Use Apartment building, Restaurant/Supper Club
Licenses Beer, Food, Liquor, Wine
Lease Type Renewal options
Occupied by
Sale Includes Business name, Customer list, Equipment, Furniture, Inventory, Lease(s), Signs
Features Display window, Inside storage, Private Restrooms, Residential unit(s), Security lighting, Security system, Shared Restrooms, Signage available
Above Information Deemed Reliable, But Not Guaranteed
Listing Courtesy of High End Homes, Llc