407 Lake Street Roscommon - Commercial Real Estate Auction
This commercial property is being offered at online public auction. This is not a foreclosure. The price will be determined by competitive bidding. Any price listed online is merely a placeholder due to website requirement. Online bidding starts at only $50,000. Open House: Tuesday, February 6 - 2pm to 4pm. Please feel free to bring an inspector. This nearly 5,000 square foot commercial property is located on a corner lot in downtown Roscommon in an active business district. The property has an existing tenant leasing the first floor of the property. The current lease goes through the end of 2024 at a rate of about $5/sq.-ft. The upstairs could be renovated into an apartment, office space, or additional retail space. The second story has a new roof that was replaced after a recent fire. The downstairs features multiple retails and support spaces that could be broken up to accommodate multiple tenants in the future. The auction does not include the tenant's trade fixtures, personal property, or sellable goods. Roscommon is a popular tourist area near the intersection of I-75 and US-127. It is near both Higgins and Houghton Lakes. The property is located just 3 minutes off I-75 on the main route into downtown Roscommon and is just 3 blocks from the main downtown intersection. This is a prime location as a commercial investment property or for use as your "up-North" business location. There are no private showings. Please do not disturb the current tenants. Bidders are responsible for reading the complete set of Terms and Conditions for this property. A $25,000 non-refundable deposit and signing of the purchase agreement is required within 24 hours after the auction. Deposit must be in the form of a wire transfer or cashiers check. No personal checks or credit card payments will be accepted. Closing and all title work will be handled by Transnation Title Agency from their Houghton Lake office. Remote closings are permitted. Buyers Agents are not required for bidders to participate in this auction. Please contact auctioneer with any questions. Buyers agents are required to register their buyers with the auction company at least 48 hours prior to the end of the auction. Buyer agent registration must take place before the bidder contacts the auction company directly or the client registers to bid online. Buyers agents MUST attend the open houses with or on behalf of their clients. No exceptions. Buyers agents are not required to bid in this auction. Bidders are encouraged to contact auction company with questions about the auction process.
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