117 N Mitchell Street, Cadillac City, MI 49601
KRAMER BUILDING · Wexford County
Key Facts
Description
The Historic Kramer Building \ Downtown Cadillac, MI Income-producing property in the heart of Cadillac’s vibrant downtown! The iconic Kramer Building combines historic charm with modern updates, offering over 12,000 SF of leasable area across three stories. A cornerstone of the city’s central business district, this property features a mix of high-quality, long-term tenants and has been meticulously maintained inside and out. Recent upgrades include electrical, flooring, paint, and mechanical improvements, all while preserving the building’s architectural integrity. Many suites feature exposed brick walls, tall ceilings, and large windows that fill the spaces with natural light and provide views of Lake Cadillac. Each suite is individually metered for gas and electric and equipped with its own heating and cooling system. The building is ADA-compliant, offering a modern elevator system that provides full accessibility to all three floorsâ€"an uncommon and valuable feature in a historic downtown property. The elevator serves both front and rear entries, ensuring that all tenants, clients, and visitors can easily navigate the building, whether accessing ground-level retail or upper-level professional offices. This amenity not only meets accessibility standards but also enhances the overall convenience, marketability, and long-term value of the asset. Property amenities include on-street parking at the front door and direct access to a large public parking lot at the rear, providing exceptional convenience and visibility for tenants and patrons alike. Walkable to Lake Cadillac, the City Park, restaurants, retail, and professional services, this property sits at the center of the Downtown Development Authority (DDA) districtâ€"an area known for its year-round community activity and business growth. A rare opportunity to own a landmark income property that blends modern functionality with historic distinction.
Property Information
Property Type
Business Opportunity
Sub-Type
Business
Year Built
1905
Living Area
12,135 sq ft
Lot Size
0.14 acres
Lot Dimensions
50'x125'
Days on Market
5
MLS® Listing#
78080062777
Property Features
Interior
Cooling
Heating
Parking
Construction
Utilities
Sewer
Water Source
Financial Details
Parcel Number
100860002700
Affordability Calculator
$195,000
Estimated monthly payment
$5,189/mo
Principal $780,000 · Est. interest $1,088,169 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Cadillac City, MI
- $234,712
- Median Listing Price
- 62
- Median Days on Market
- 1,485
- Median Sq Ft
- $136
- Median Price / Sq Ft
- 13,472
- Active Listings
- This home’s price is 315% above the area median.
- Its price per sq ft is 41% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Cadillac City, MI.
Location
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Points of Interest in Cadillac City, MI
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Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 4398 & 4400 W Manhattan, Traverse City, MI | $684,900 | — | 4 | 3,588 |
| 4398 & 4400 W Manhattan, Traverse City, MI | $684,900 | 6 | 4 | 3,436 |
| 1057 Magnolia Drive, Traverse City, MI | $684,900 | 4 | 4 | 2,932 |
| 1440 Woodbridge Lane, Wixom City, MI | $685,000 | 3 | 4 | 3,590 |
| 114 E Griffin Street, Traverse City, MI | $685,000 | — | 2 | 4,789 |
| 1906 Old Orchard Court, Ann Arbor City, MI | $685,000 | 3 | 4 | 4,020 |
Moving Cost Estimate
EXIT Agents in Cadillac City
Listing Courtesy: Coldwell Banker Schmidt-Cadillac - 2317751737
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