Village of Calumet - Multifamily building located on M203/Pine Street with 2 units on the main level and 2 units upstairs. The sandstone exterior is beautiful and last tuckpointed about 3+/- years ago, some original woodwork and character! Located near the corner of 5th and Pine Street it is in close proximity to the downtown Calumet activity including the Farmer's Market area and shopping. Just a short drive to the Swedetown Trails and Lion's Park at Calumet Lake. The main floor has one unit with 1 to 2 bedrooms, kitchen, living room, bathroom and laundry (446 Pine: leased through 12/17/2028). The other main floor unit has 1 bedroom, living room, kitchen, bathroom and laundry (448 Pine: leased through 12/17/2028). At the back of the main floor units there is a storage area. One upper unit has 2 bedrooms, kitchen, living room, bathroom. The other upper unit has 1 bedroom, kitchen, living room and bathroom. The upper units are contractor ready and need to be remodeled prior to occupancy. Sale is contingent upon the municipality land division approval and separation of utilities from 444 Pine St. (Note: Property has its own gas meter as of 5/2024. Separation of water meters in in process.) 444 Pine Street (home and garages) are NOT available for purchase. Property has been surveyed. NOTICE: All information believed accurate but not warranted. Buyer recommended to inspect all aspects of the property, verify all information & bears all risks for any inaccuracies. Tax information is subject to change (possibly significant) and property will be reassessed by the municipality after sale is completed. Taxes are not zero and are part of a parent parcel. All measurements (acres, lot size, square footage etc) are estimated. Buyer to verify utilities, including availability & costs associated. Sellers may have audio/video recording devices present on property and buyers and agents consent to being recorded by entering property. OFFERS: Seller requests 72 hours response time on offers. Seller, at seller's sole discretion, with or without notice, reserves the right to set and/or modify deadlines for receipt of and sellerâ??s response to offers. Leases: Leases for both units are through December 17th, 2028 with rent amount not being adjusted more than 5% per calendar year and a possible increase for extraordinary increase in taxes, utilities and insurance only with a minimum of 30 dayâ??s notice to tenants. Financing: Likely need a commercial or construction loan until updates completed or cash. ATTENTION DEVELOPERS - There may be possible MEDC or MSHDA grants and other financial tools available for developers looking to rehabilitate or redevelop the property. (Note: Grants and tools do not apply to curing basic deferred maintenance.) Contact the Keweenaw Economic Development Alliance for possible options, https://kedabiz.com/.
Searching for the next investor developer to carry on what the seller has started in restoring this historic, Nelson-Schroeder Block building! Intriguing 3 story mixed used, commercial & residential, building located in downtown Calumet, Michigan - within the boundaries of the Keweenaw National Historical Park, and the near the center of the Calumet Village downtown Historic District. Classical revival features include prismatic glass storefront transom windows, a large cornice, bulls-eye windows at the attic level, round arched sandstone and recessed entries. On the interior there are some original Italian tile fireplaces, original woodwork, large windows for beautiful natural light. An accessible & attractive 2 story skylight sheds light into the core of the two upper floors. The structure is 11,790+/- sf, not including basement. The current configuration of the building is consistent with its past, 2 commercial storefronts & potential for 4+ apartments (Estimate of approx 12 BRs depending on how building is remodeled) on the upper floors. The current owner has cleaned out & taken steps to preserve the building for you to continue this historic restoration! The basement is large at 3900+/- ft. sq. with high ceilings, concrete floor & exterior entrance. Your opportunity to add to the revitalization of the Village of Calumet. Parking for occupants is located on 58x118 lot across the road on 7th Street. A great community with a farmers market, home of Pasty Fest, close to recreational trails and more! Ceiling tiles not currently installed are negotiable. Since originally listed, seller has done further improvements including some floor leveling, drywall, priming, roof drain repair & purchased half of a lot to make the parking lot 58x118 total. Both commercial units are ready for your business specific build-out to start your business or rental income. Approx floor plan available. Last occupancy 2005+/-. Rubber roof apprx 10+/- yrs old.Building lot: Aprx 0.09 acre & vacant/parking lot Aprx 0.15 acre. All info believed accurate but not warranted. Buyer recommended to inspect property, verify all information & bears all risks for any inaccuracies. Tax information is subject to change. All measurements (acres, lot size, square footage etc) are estimated. Sellers may have audio/video recording devices present on property. By entering or being on property, Buyer & Buyerâ??s agent consent to being recorded. Also listed MLS 50121684 Commercial Calumet Historic District (HDC) affects property. Seller may be removing some of the tin from an area in the building where not exposed prior to closing.
Calumet is located in Michigan. Calumet, Michigan has a population of 768. Calumet is less family-centric than the surrounding county with 29.81% of the households containing married families with children. The county average for households married with children is 30.83%.
The median household income in Calumet, Michigan is $19,028. The median household income for the surrounding county is $48,623 compared to the national median of $69,021. The median age of people living in Calumet is 35.8 years.
The average high temperature in July is 75.6 degrees, with an average low temperature in January of 6.6 degrees. The average rainfall is approximately 31.4 inches per year, with 207.6 inches of snow per year.
