314 S Summit St

Description

Welcome to an extraordinary opportunity in the heart of Arkansas City's downtown area! This impressive building is bursting with potential and offers limitless possibilities for its future use. With its spacious upper level spanning over 3900 sqft, the potential for creating four separate apartment spaces is truly exciting. The building's original charm has been preserved, with intact hardwood floors and tin ceilings eagerly awaiting restoration to their former splendor. Notably, significant upgrades have already been completed, including the replacement of windows, plumbing, electrical systems, and the addition of hardwire fire sprinklers. These essential modernizations provide a solid foundation for the next phase - the delightful task of designing and reimagining this remarkable space. The lower level of the building boasts two store fronts, opening up exciting avenues for multiple income streams from this single property. For savvy entrepreneurs or investors, this presents an enticing opportunity to capitalize on the property's excellent location and maximize returns. What's more, this property is eligible for the neighborhood revitalization tax abatement program - a true added bonus! This program offers an impressive 75% rebate for a period of 7 years, commencing upon the project's permit completion. This remarkable tax incentive further enhances the allure and financial benefits of this investment. Now is the perfect time to seize this amazing chance to revive and rejuvenate this downtown gem. Embark on an exciting journey of transforming this building into a thriving hub of activity and opportunity. Call the listing agent today!