Historic Building Downtown Fremont

Retail-Commercial for Sale
Catylist Listing ID: 30705887
Property Subtypes: Restaurant, Street Retail
Building Size (RSF): 33,684 SF
Gross Building Area: See Agent
Gross Land Area: 10,208 SF
Sale Price: $850,000
Unit Price: $25.23 PSF
Property Use Type: Investment, Vacant/Owner-User
Building Name: May Brothers Building
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/15/2021

Overview / Comments

Locals might remember this building as the local five and dime, Kresge's. Re-established in 2014 as the May Brothers Building, this 3-story building plus basement is located on a highly visible intersection, in a desirable location in the Historic District of Downtown Fremont. The site comprises two perpendicular buildings that have been combined into one for over 33,000 square feet including the basement! Built in 1881 and originally operated as a warehouse, this building was built to last with joists 12” on center and 26” thick brick walls on the first floor.

The property underwent extensive renovations in 2014 when the current owner purchased the property.

The first floor is home to the Milady Coffeehouse, a spacious community gathering hot spot, and the cornerstone of downtown. Designed to be a blend of modern and historic, the successful coffeehouse is a large but cozy and inviting space to grab a latte or light lunch. High original tin ceilings, hardwood floors, a 12 x 20 stage with lighting and sound system, state of the art sound booth and new kitchen equipment make this a turnkey operation for the next owners.

The second floor is currently under construction, with plans for 16 individual office spaces that still maintain much of their original charm and character from the 1920’s. A conference room, four unisex bathrooms and kitchen are outlined. Towering exposed beams and large windows will help create a demand for these unique office spaces for small businesses, an incubator or other use.

The third floor is wide open with exposed brick walls and is ready for you to work with the architect of your choice to create apartments, a venue or office space, the possibilities are endless.

The May Brothers Building boasts new windows in 2010, a brand new elevator servicing all 3 floors, and new sewer and water service to the building. The first floor has all new electrical, mechanical, and sprinklers. Ample parking is conveniently located directly behind the building with a parking garage nearby.

The next owner of the May Brothers Building will have a wide offering of opportunities and the unique ability to define how this iconic property will serve the community for years to come. Don’t miss your chance to own a beautiful historic building in an increasingly vibrant downtown. Agent has equity. Contact Nancy Ellis at 402-253-1948 to schedule your showing today!

Attachments & Media

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $3,958 (Annual)

Additional Details

Nearest MSA: Fremont
County: Dodge
Tax ID/APN: 270002940
Zoning: DOWNTOWN COMMERCIAL
Retail Clientele: General, Business
Property Located Between: Corner of 6th & Park
Property Visibility: Good
Largest Nearby Street: 6th Street
Area Description: Historic Downtown Fremont
Total Number of Buildings: 1
Number of Stories: 4
Typical SF / Floor: 7,602 SF
Property Condition: Good
Year Built: 1881
Year Renovated: 2014
Construction/Siding: Brick
Parking Description: Downtown street parking
Passenger Elevators: 1
Sprinklers: Wet
Zoning Description: Downtown Commercial
Water Service: Municipal
Sewer Type: Municipal
Legal Description: OT W44'N100' LOT 4, S32' LOTS 3 & 4 BLK 143 & TL 220 & 221

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,449 27,575 28,797
Median Age: 36.31 39.24 39.73
Households: 5,502 11,286 11,795

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