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User-Ready Flexible Commercial Opportunity 2508 US 23 S 2,787 SF Vacant Retail Building Online Auction Sale Alpena, MI 49707
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Investment Highlights
- 2508 US 23 S presents a freestanding retail storefront/office building spanning 2,787 square feet on a 1.1-acre parcel zoned Commercial.
- Delivered vacant to the market, presenting immediate upside for a user to move in and begin operating a business that is community-driven.
- Michigan boasts a low 6% corporate income tax, a diverse talent pool, and convenient proximity to major markets, an ideal investment landscape.
- Direct frontage and easy access along US Highway 23 S enable more than 11,100 daily passing vehicle exposure, plus two curb cuts are in place.
- Per Michigan's Economic Development, the state is very business-friendly with a competitive tax structure, robust economy, and development incentive
- Whether accommodating an office or a restaurant user, the space features one office, storage, 20+ paved parking spaces, city utilities, and A/C.
Executive Summary
Retained exclusively by ownership, Cresa presents 2508 US 23 S, a 2,787-square-foot freestanding commercial building, prominently fronting US Highway 23 S.
2508 US 23 S was a former automotive retail shop and features large glass storefront display windows. The building is equipped to support prominent building signage. It sits between an ARCO gas station with a convenience store and car wash, a local hairdresser, and numerous local, internet-resistant establishments further along the Highway.
Alpena, Michigan, is a nature-based community on the shores of Lake Huron, one of the Great Lakes. Alpena is the largest commercial hub in northeast Michigan, with the Alpena Regional Medical Center being the largest employer. Alpena’s riverside downtown district, known as the heart of the community, is also the city’s hub for shopping and dining. Restaurants, cafes, locally owned stores, galleries, and other home-grown businesses serve the community year-round.
National brands creating commercial synergy in the Riverside Downtown District include The Home Depot, Meijer, Starbucks, Walmart Supercenter, UPS Customer Center, Dunham’s Sports, and Dollar General. The subject’s 10-mile demographics confirm a growing population of 22,056 residents, with annual spending power exceeding $256.5 million. Food and beverages, transportation and maintenance, and entertainment and hobbies represent the three largest spending categories, aligning with the commercial synergy and the subject’s build-out and capabilities.
Property tours are by appointment only. Please contact the listing broker to schedule.
2508 US 23 S was a former automotive retail shop and features large glass storefront display windows. The building is equipped to support prominent building signage. It sits between an ARCO gas station with a convenience store and car wash, a local hairdresser, and numerous local, internet-resistant establishments further along the Highway.
Alpena, Michigan, is a nature-based community on the shores of Lake Huron, one of the Great Lakes. Alpena is the largest commercial hub in northeast Michigan, with the Alpena Regional Medical Center being the largest employer. Alpena’s riverside downtown district, known as the heart of the community, is also the city’s hub for shopping and dining. Restaurants, cafes, locally owned stores, galleries, and other home-grown businesses serve the community year-round.
National brands creating commercial synergy in the Riverside Downtown District include The Home Depot, Meijer, Starbucks, Walmart Supercenter, UPS Customer Center, Dunham’s Sports, and Dollar General. The subject’s 10-mile demographics confirm a growing population of 22,056 residents, with annual spending power exceeding $256.5 million. Food and beverages, transportation and maintenance, and entertainment and hobbies represent the three largest spending categories, aligning with the commercial synergy and the subject’s build-out and capabilities.
Property tours are by appointment only. Please contact the listing broker to schedule.
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- Purchase Agreement
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
2,787 SF
Building Class
C
Year Built
1970
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.10 AC
Parcel Number
012-009-000-858-00
Zoning
C - Commercial
Parking
27 Spaces (9.69 Spaces per 1,000 SF Leased)
Frontage
76’ on US Highway 23 S
Amenities
- Air Conditioning
Somewhat walkable
30/100
Exceptionally drivable
100/100
Not bikeable
10/100
Demographics
Demographics
1 mile
3 mile
5 mile
2025 Population
1,104
11,711
16,492
2020 Population
1,136
12,500
17,454
2030 Population
1,096
11,520
16,257
2025-2030 Projected Population Growth
-0.7%
-1.6%
-1.4%
Daytime Employees
965
10,400
13,463
Total Businesses
96
1,190
1,489
Average Household Income
$65,471
$63,434
$64,234
Median Household Income
$46,666
$48,393
$48,543
Total Consumer Spending
$12.7M
$127.9M
$182.6M
Median Age
54.6
46.3
46.7
2025 Households
519
5,348
7,496
Percent College Degree or Above
14%
10%
10%
Average Home Value
$213,211
$159,907
$171,004
$ values in USD
Sale Advisors
Sale Advisors
Skyler Peppo, Advisor
Skyler works with national retailers to optimize their real estate portfolios through strategic management, with experience across dispositions, restructuring, and market expansion.
Marcus Cook, Managing Principal
Marcus Cook is a recognized expert in the commercial real estate industry, with a strong focus on retail properties as well as portfolio management within the industrial and flex sector. With over two decades of experience, Marcus is known for delivering customized real estate solutions that maximize value for retail brands, investors, and developers. He has also played a pivotal role in startup retail brand expansion, global portfolio management, and guiding existing and emerging businesses through strategic site selection and leasing solutions to scale their operations effectively.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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Auction Contact
Marlo Lashley
Contact
Auctioneer License:
Ten-X, LLC Arlene Richardson RE Brkr 6505431586
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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User-Ready Flexible Commercial Opportunity | 2508 US 23 S
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