Two adjacent East Cherry Street commercial properties have hit the market in recent weeks.
A recent craigslist ad offered 41-51 E. Cherry St. for $1.295 million. The three-story building has three storefronts (currently all occupied), with nine apartments on the upper floors, in addition to a vacant parcel and a 17-space parking lot that also abuts Lewis Street.
A little further east, 59-61 East Cherry St. (map) is listed for $289,900, and also is occupied by one of the longest-tenured retail tenants on East Cherry Street in New Era Sportswear.
The two parcels possibly create an opportunity to buy up almost half the north side of East Cherry Street for almost $1.6 million.
There has been talk over the years about the Parking Authority creating a promenade to connect the parking deck on Lewis Street to East Cherry Street. On the east side of the New Era building also is a vacant lot, where 65 E. Cherry St. was razed years after a fire destroyed a beauty supply store.
It seems a shame that the properties that are rented are the ones for sale, rather than the ones opposite, which have been vacant for a very long time, and that display no outward sign of being marketed to tenants/businesses.
Yea they will tear down and build apartment.the corner build is pretty old and will probably have to be torn down anyway. Not worth 2 million.just the. Proper to 1.5 that’s all I would pay.