For Sale
405 W Main Street, Ionia, MI 48846
$700,000
MLS # 26018942 (Michigan Regional Information Center (MichRIC))
6 bathsBuilt 18900.21 acres
1 / 53
Listing 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 five 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.
Source: SparkMLS
About this home
This 6-bath home built in 1890 sits in Ionia in Ionia.
Asking $700,000.
Annual property taxes run approximately $10,485 ($874/month). Tax figure is from the MLS listing record; verify with the county treasurer for the most current amount.
Electric service is provided by Consumers Energy Company.
Listing Property Details
Property TypeCommercial Sale
Property SubtypeBusiness Opportunity
Bathrooms6
Lot Size0.21 acres
Year Built1890
Location
CityIonia
MunicipalityIonia City
Zip Code48846
CountyIonia
School DistrictIonia
Construction & Systems
ConstructionBrick
HeatingBaseboard
UtilitiesNatural Gas Connected, Electricity Connected
InteriorBroadband
Sale & Financing
Listed4/29/2026
Terms AcceptedConventional, Cash
Source: SparkMLS
Tax Information
Annual Tax$10,485
Tax Year2025
Assessed Value$171,000
Parcel #201-050-000-355-00
Source: SparkMLS
Legal Description
CITY OF IONIA ORIGINAL TOWN LOT 43 AND E 2FT OF LOT 42
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Eligible — 0% Down Payment Available
Verify eligibility at USDAListed by Cathy A Hoppough
KW Rivertown Hoppough
Frequently Asked Questions about 405 W Main Street, Ionia, MI 48846
Which school district serves 405 W Main Street, Ionia, MI 48846?
Per MLS# 26018942, 405 W Main Street, Ionia, MI 48846 is in the Ionia boundaries. School district assignments are determined by property location and may differ from the mailing city. Contact Ionia directly to confirm enrollment eligibility.
Can I use FHA or VA financing for this property?
Per MLS# 26018942, this listing accepts Conventional, Cash financing. Financing acceptance is subject to change — confirm with the listing agent.
What are the property taxes at 405 W Main Street, Ionia, MI 48846?
Per public tax records, annual property taxes for this property are $10,485 (2025). Michigan property taxes are based on a property's taxable value multiplied by the local millage rate. Primary residences qualify for a homestead exemption that lowers the rate.
Can I use a USDA Rural Development loan for this property?
Per USDA Rural Development boundary data, 405 W Main Street, Ionia, MI 48846 is in an eligible area. USDA RD loans offer 0% down payment for qualified buyers. Verify current eligibility at the USDA eligibility site, as boundaries are updated periodically.
Is 405 W Main Street, Ionia, MI 48846 in a flood zone?
Per FEMA flood maps, this property is designated as Zone X, a minimal-risk flood area. Flood insurance is not typically required in this zone but may still be advisable. FEMA flood maps are updated periodically — verify the current designation at msc.fema.gov.
What utilities serve 405 W Main Street, Ionia, MI 48846?
Per Michigan Public Service Commission service territory data: Electric: Consumers Energy Company. Gas: Consumers Energy Company. Confirm service details directly with providers.
What is the crime rate in this area?
For crime and public safety data, we recommend inquiring directly with the Ionia City police department or the Ionia County sheriff's office.
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Monthly payment$4,540
Principal & interest$4,540
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Utilities
Consumers Energy Company
Investor-Owned
Consumers Energy Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
405 W Main Street, Ionia, MI 48846
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Municipality
Ionia
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