Downtown corner building on US 131 in the heart of Northern Michigan. 20,000+ sq ft. Endless possibilities!

Description:

Business opportunity of a lifetime! This 20,000+ square foot building is located in the heart of northern Michigan, on the corner of high traffic US-131 and M-88. An average of 9000+ cars pass through this intersection daily and this has increased 33% in the past year. This cornerstone building of Mancelona has 3 stories and the possibilities are endless for a creative entrepreneur. It is the perfect place for a much-needed bar/restaurant. There is also the possibility of retail, office and/or multiple apartments in an area with a shortage of rental housing. This building is located in an “Opportunity Zone” which offers investors a special break on taxes and capital gains. This historic gem was built in 1908, and has had multiple uses over the years. The main building was a PNC bank for the past several years, and was Antrim Bank for decades before that. An adjoining building is currently a heating and plumbing store with a nice showroom and offices. In the past, there was a restaurant downstairs, and the upstairs was a dance hall with raised stage, boarding house, home for Lion’s Club, Rotary and Liars’ Club, and much more. Original wood floors. There are many conference rooms, offices, and closets throughout. Three kitchens and five restrooms. Huge basement with incredible stone and brick foundation. Finished rooms in basement. This building is in very good condition with newer boilers, updated plumbing and electric, and more. 28 parking spots plus public parking. Mancelona is a family friendly town with award winning schools and beautiful parks. Located convenient to Gaylord, Traverse City, Petoskey, and Charlevoix. This prime building is located near snowmobile trails, lakes and rivers, golfing, skiing, hunting and Shanty Creek Ski and Golf Resort.

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