$700,000
Ionia, MI 48846
MLS# 26018942
11386 sqft
1 / 53
Property 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 three 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.
Details
Maps
Location & Property Info
Cross Streets: Steele St
Property Sub-Type: Business Opportunity
Municipality: Ionia City
Ownership Type: Private Owned
Office/Contract Info
Auction or For Sale: For Sale
List Price/SqFt: 61.48
Prop Avail for Lease?: No
Current Bldg Use: retail and residential units
General Property Info
New Construction: No
Lot Dimensions: 68x132
Road Frontage: 68
Mineral Rights: No
Waterfront: No
Total # Units: 7
Total # Bldgs: 1
# Fin Bldg Lvls: 2
Total SqFt: 11386
School District: Ionia
Lot Measurement: Acres
Lot Acres: 0.21
Lot Square Footage: 9148
Year Built: 1890
Full Baths: 6
Tax Info
Taxable Value: 171000
SEV: 171000
For Tax Year: 2025
Seller's Annual Property Tax: 10485.38
Tax Year: 2025
Homestead %: 0
Spec Assessment & Type: none
Non-Conforming Use: No
Tax ID #: 201-050-000-355-00
Remarks & Misc
Public Remarks: 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 three 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.
Legal: CITY OF IONIA ORIGINAL TOWN LOT 43 AND E 2FT OF LOT 42
Additional Details
# Freight Elevators: 1
Street Type
Paved: 1
Public: 1
Utilities Attached
Electricity Connected: 1
Natural Gas Connected: 1
Sewer
Public Sewer: 1
Water
Public Water: 1
Uses
Professional/Office: 1
Retail: 1
Construction Type
Block: 1
Exterior Material
Brick: 1
Roofing
Composition: 1
Heat Source
Natural Gas: 1
Sale Conditions
None: 1
Ownership
LLC: 1
Heat Type
Baseboard: 1
Air Conditioning
Central Air: 1
Business Includes
Non-Applicable: 1
Util Avail at St
High Speed Internet: 1
Purchase Terms Avail
Cash: 1
Conventional: 1
Unit 1
Unit Description: Gym
Rent $/Month: 1500
Unit 2
Unit Description: apartment
Rent $/Month: 900
Unit 3
Unit Description: apt
Rent $/Month: 800
Unit 4
Unit Description: apartment
Rent $/Month: 800
Unit 5
Unit Description: apartment
Rent $/Month: 800
Unit 6
Unit Description: apartmnet
Rent $/Month: 800
Unit 7
Unit Description: apartment
Rent $/Month: 800
Possession
Close Of Escrow: 1
Subject To Tenant Rights: 1
Location Property Info
County: Ionia
Street #: 405
Street Direction: W
Street Name: Main
Suffix: Street
State: MI
Zip Code: 48846
Zip (4): 1553
OfficeContract Info
Status: Active
Current Price: $700,000
List Price: $700,000
Listing Date: 2026-04-30
Remarks Misc
Directions: Dexter St to Main St
Property Features
Uses: Professional/Office; Retail
Ownership: LLC
Business Includes: Non-Applicable
Construction Type: Block
Exterior Material: Brick
Roofing: Composition
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Electricity Connected; Natural Gas Connected
Util Avail at St: High Speed Internet
Heat Source: Natural Gas
Heat Type: Baseboard
Air Conditioning: Central Air
Street Type: Paved; Public
Purchase Terms Avail: Cash; Conventional
Sale Conditions: None
Possession: Close Of Escrow; Subject To Tenant Rights
Listing Office: KW Rivertown Hoppough
Listing Agent: Cathy A Hoppough
Last Updated: April - 30 - 2026
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