405 W Main Street, Ionia City, MI 48846
Ionia County
Key Facts
Description
Positioned in the heart of historic downtown Ionia, the iconic Stevenson Building is a rare opportunity to own a fully leased, income-producing mixed-use property on the city's charming red brick Main Street. This standout property blends timeless character with strong cash flow and future upside.The second floor features five apartments, all currently leased, providing consistent residential income. At street level, two prime retail spaces enjoy excellent visibility and steady foot traffic in one of Ionia's most desirable commercial corridors.Recent improvements include a new roof, offering peace of mind for the next owner. But what sets this property apart is the untapped potential. The third floor presents an incredible value-add opportunity with the possibility to create four loft-style apartments, capitalizing on the growing demand for downtown living.Whether you are expanding your portfolio or stepping into a signature investment property, the Stevenson Building delivers.
Property Information
Property Type
Business Opportunity
Sub-Type
Business
Year Built
1890
Living Area
11,386 sq ft
Lot Size
0.21 acres
Lot Dimensions
68x132
Ownership
LLC
Days on Market
67
MLS® Listing#
65026018942
Property Features
Cooling
Heating
Construction
Roof
Utilities
Sewer
Water Source
Financial Details
Annual Taxes
$10,485
Tax year 2025
Assessed Value
$171,000
Parcel Number
20105000035500
Directions
Dexter St to Main St
Affordability Calculator
$140,000
Estimated monthly payment
$3,726/mo
Principal $560,000 · Est. interest $781,250 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Ionia City, MI
- $237,012
- Median Listing Price
- 58
- Median Days on Market
- 1,500
- Median Sq Ft
- $135
- Median Price / Sq Ft
- 13,348
- Active Listings
- This home’s price is 195% above the area median.
- Its price per sq ft is 55% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Ionia City, MI.
Location
Points of Interest in Ionia City, MI
Showing the Ionia City area map.
Nearby Schools
SS Peter & Paul Elementary School
Elementary · 0.2 mi away
Emerson School
Elementary · 0.3 mi away
Ionia Middle School
Secondary · 0.4 mi away
Ionia Seventh Day Adventist School
School · 0.8 mi away
Jefferson Elementary School
Elementary · 0.9 mi away
St John Lutheran Church, Ionia Mi
School · 0.9 mi away
Douglas R Welch High School
Secondary · 1.4 mi away
Ionia Maximum Correctional Facility
Secondary · 1.4 mi away
Richard A Handlon Correctional
Secondary · 1.6 mi away
Ionia Public School
School · 2.0 mi away
Ionia High School
Secondary · 2.0 mi away
Ionia County Career Center
Secondary · 2.2 mi away
Heartlands Institute of Technology
School · 2.2 mi away
Freedom Acres School
Elementary · 2.2 mi away
Ionia County Intermediate School District
School · 2.2 mi away
Rather Elementary School
Elementary · 2.4 mi away
North Levalley Elementary School
Elementary · 2.5 mi away
Haynor School
Elementary · 2.9 mi away
Boyce Elementary School
Elementary · 4.0 mi away
Coon School
Elementary · 6.4 mi away
Commute Calculator
Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 29 E Cross Street, Ypsilanti City, MI | $490,000 | — | 5 | 2,760 |
| 1819 W Willow Street, Lansing City, MI | $490,000 | — | 4 | 12,440 |
| 22273 Abington Drive, Farmington Hills City, MI | $490,000 | 3 | 3 | 2,197 |
| 18906 Dix Road, Melvindale City, MI | $490,000 | — | — | 1,600 |
| 25550 Grandview Lane 39, Novi City, MI | $491,500 | 3 | 4 | 2,121 |
| 8754 Agnes Street, Detroit City, MI | $492,000 | 3 | 3 | 1,523 |
Moving Cost Estimate
EXIT Agents in Ionia City
Listing Courtesy: KW Rivertown Hoppough - 6165234300
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