405 W Main Street, Ionia, MI 48846

New Listing
$700,000
Property Type: Commercial Sale Square Footage: 11,386 Lot Size (sq. ft.): 9,148 Status: Active
Current Price: $700,000 List Date: 4/30/2026 Last Modified: 4/30/2026

Overview

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 deli ...

Listing Details MLS# 26018942

Location Property Info

County
Ionia
Street #
405
Street Direction
W
Street Name
Main
Suffix
Street
State
MI
Zip Code
48846
Zip (4)
1553

General Property Info

New Construction
No
Lot Measurement
Acres
Lot Acres
0.21
Lot Square Footage
9148
Lot Dimensions
68x132
Year Built
1890
Road Frontage
68
Mineral Rights
No
Total # Units
7
# Fin Bldg Lvls
2
Total # Bldgs
Yes
Total SqFt
11386
Full Baths
6
Waterfront
No
School District
Ionia

Tax Info

Tax ID #
201-050-000-355-00
Taxable Value
171000
SEV
171000
For Tax Year
2025
Seller's Annual Property Tax
10485.38
Tax Year
2025
Spec Assessment & Type
none
Non-Conforming Use
No
Homestead %
0

Remarks Misc

Directions
Dexter St to Main St

Additional Details

# Freight Elevators
Yes

More Information

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

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

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

Street Type

Paved
Yes
Public
Yes

Utilities Attached

Electricity Connected
Yes
Natural Gas Connected
Yes

Sewer

Public Sewer
Yes

Water

Public Water
Yes

Uses

Professional/Office
Yes
Retail
Yes

Construction Type

Block
Yes

Exterior Material

Brick
Yes

Roofing

Composition
Yes

Heat Source

Natural Gas
Yes

Sale Conditions

None
Yes

Ownership

LLC
Yes

Heat Type

Baseboard
Yes

Air Conditioning

Central Air
Yes

Business Includes

Non-Applicable
Yes

Util Avail at St

High Speed Internet
Yes

Purchase Terms Avail

Cash
Yes
Conventional
Yes

Possession

Close Of Escrow
Yes
Subject To Tenant Rights
Yes

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
IDX
Listing Office: KW Rivertown Hoppough
Listing Agent: Cathy A Hoppough
Source MLS Verified
Last Updated: April - 30 - 2026
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of MICHRIC , and site contains live data. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.